News

By David King, fulcrm.com

For many retailers, the “best customer” search has been an ineffective venture where the results haven’t warranted the time or expense, despite a host of different efforts. But this tantalizing target keeps pulling dollars out of budgets, dollars that could be spent on creating a more realistic and profitable approach to customers -- one that considers customers’ shifting behaviors and value.

New York City -- Looking for a hit list of the hottest new stores around the globe? Check out the 10 contenders below. The list comes from the folks behind the cutting-edge, London-based retail consultancy echochamber.com.

Forever 21, Times Square, New York City: This vast, 90,000-sq.ft. store has a sense of quality that is astonishing given its low price-points. The best feature is the exterior: an amazing interactive digital billboard features giant-sized virtual models who take Polaroid pictures of the crowd below.

Columbus, Ohio -- Big Lots on Friday posted a lower-than expected quarterly profit, and the company cut its outlook for the crucial holiday quarter, in the face of strong competition and aggressive promotions from rivals.

The chain said profit for the quarter ended Oct. 30 fell 42% to $17.7 million, from $30.3 million a year earlier, when the company's earnings included a 10-cents-a-share benefit from real estate transactions. Net sales in the latest quarter rose 2% to $1.06 billion as same-store sales rose 0.7%.