News

Paris -- The focus of c-suite and senior executive attention has shifted from economic uncertainty to data, technology and the supply chain, according to the Global Top of Mind Survey from KPMG International and the Consumer Goods Forum. Over half (54%) of respondents cited digital strategy for mobile/digital platforms as top of mind for their business during the next 12 months.

Los Angeles – New York-based investment firm Standard General, which owns a roughly 44% stake in troubled apparel retailer American Apparel Inc, is reportedly preparing recovery plans that both include and do not include controversial former CEO and founder Dov Charney. According to Reuters, Standard General is leaving the decision of whether to allow Charney to return to the company up to the American Apparel board, following a third-party investigation by FTI Consulting.

Cleveland – Higher pretax income and gross profit helped push net income at The Sherwin-Williams Company up 13% in the second quarter of fiscal 2014 to $291 million, from $257 million in the year-ago period.

Net sales rose 12% to $3.04 billion from $2.7 billion, primarily due to higher paint sales volume in the paint stores group and acquisitions.

San Mateo, Calif. - NetSuite Inc. a provider of cloud-based financials, ERP and omnichannel commerce software suites is acquiring London-based Venda, a provider of e-commerce solutions for an undisclosed amount. NetSuite says its acquisition of Venda builds on the momentum of NetSuite SuiteCommerce globally and supports NetSuite’s business expansion into the European market.

Washington, D.C. - Families this summer will spend slightly more on back-to-school items than they did in 2013. According to NRF’s 2014 Back-to-School Survey conducted by Prosper Insights & Analytics, the average family with children in grades K-12 will spend $669.28 on apparel, shoes, supplies and electronics, up 5% from $634.78 in 2013.

Montreal - In-store mobile device integration and e-commerce solutions, as well as inventory management and predictive analytics software, are the biggest technology priorities for independent brick-and-mortar retailers. According to the first annual Retail Tech Forecast of 640 independent retailers from commerce platform provider LightSpeed, the percentage of retailers deploying tablets, smartphones and other mobile devices for checking out shoppers (currently 17%) is expected to increase a whopping 170% in the coming years.  

Loblaw’s board of directors has named executive chairman Galen G. Weston as president, effective immediately. Thomas O'Neill, lead independent director, confirmed the appointment as part of a series of management changes at the company.

As executive chairman, Weston is responsible for setting the strategic direction of the company and leading the board. In assuming the role of president, Weston will also be responsible for the execution of the company's strategy, leadership of the management team and its overall business performance.

eBay enabled record levels of e-commerce and transaction volume via its PayPal subsidiary during the second quarter ended June 30.

The global commerce platform and payments leader said revenue for the period increased 13% to $4.4 billion as the volume of e-commerce activity it facilitated (a metric eBay calls Enabled Commerce Volume or ECV) increased 26% to $62 billion. Net income increased 6% to $676 million, or 53 cents a share, compared to net income of $640 million, or 49 cents a share.

Rising commodity costs and expense pressures prompted Hershey to announce an 8% increase in wholesale prices as it looks to maintain profitability in 2014 and beyond.

Williams-Sonoma has appointed Ronald R. Young SVP, global, as part of its strategy to grow the brand outside the United States.

“Global expansion is one of our most important initiatives, and I’m pleased to have Ron Young, with his more than 30 years of experience in global markets, leading our continued growth,” said president and CEO Laura Alber. “Ron’s deep understanding of the global retail landscape, and his financial discipline are the ideal combination of skills and experience to lead our global strategy.”