Retailers, consumers and prices
You know how it is when you take a trip to Target: You're going to buy just that ONE THING that you need, and you're going to keep it cheap. As you leave the store, you wonder how you dropped hundreds of dollars on things that you didn't realize you needed until you walked into the store.
Target is hoping to spawn a similar phenomenon on its website, where it has begun offering a magazine newsstand. Rather than starting from scratch, it has signed on Zinio, a digital publishing company that offers magazines and books from more than 350 publishers.
Zinio will sell electronic versions of magazines on a page on Target's website, either as single editions of current and older issues, or as annual subscriptions - usually at a discount. People can read them in a Web browser version or through an application that Zinio offers for download. This is similar to what they've done on other websites, like the one operated by Barnes & Noble.
Yes, you can already look at online versions of magazines, Zinio Chief Executive Richard Maggiotto said in an interview. This is different, however, he said: "It's a high-fidelity, robust magazine." In other words, these titles, ranging from Elle to Woman's Day to Seventeen, are meant to look -- if not feel -- like the print magazines they are replacing. Zinio and Target will share the revenue they get from each sale.
The coffee chain, which in the middle of a corporate turnaround, hopes that Via will help it grab a big piece the $21 billion instant coffee market from established players like Nestle’s Nescafe and Kraft Foods Inc’s Sanka.
JC Penney stores in the United States and Puerto Rico are going exclusive with Liz Claiborne Inc’s namesake brand and celebrity designer Isaac Mizrahi will sell his upscale Liz Claiborne New York line only on QVC, a TV shopping network.
The moves from Liz Claiborne were seen by some as a downward shift to mass-market retail channels and came as department store orders for Liz Claiborne’s products have fallen during what has become the longest recession since the Great Depression.
Discover’s U.S. Spending Monitor for September rose for the second straight month, climbing 2 points to 89 (based out of 100). Thirty-three percent of respondents said they felt economic conditions were improving, a Monitor high and a 2-point rise from August.
The forecast, perhaps the most bullish yet, comes after a dismal 2008 holiday season that by some accounts was the worst in about 40 years.
J.C. Penney discounts are going mobile as the department store takes aim at younger, tech-savvy shoppers.
Just in time for the crucial holiday shopping season, the company is testing a discount program from Cellfire that will allow Penney’s Houston-area shoppers to use their cell phones to download coupons that can be presented at checkout for savings.
Check out who’s in charge at Aeropostale.
No, seriously, who is in charge?
The company announced today that Julian Geiger was leaving the teen apparel retailer. (The press release was apparently written under the auspices of the Lawyers Full Employment Act.)
But instead of appointing one leader, Aeropostale went with co-CEOs. President and Chief Merchandising Officer Mindy Meads and Chief Operating Officer Thomas Johnson were named to share the top spot.
The news release does not detail how Meads and Johnson will divide the CEO duties.
What we do know is that the history of corporate America is punctuated with co-CEO arrangements that have gone awry.
When Kraft was spun out from Altria in 2001, Roger Deromedi and Betsy Holden were named co-CEOs. The relationship ended with Holden being demoted in late 2003, and eventually leaving the company. Kraft continued to struggle with lackluster innovation and seemingly ever-present restructuring, and Deromedi was out by 2006.
John Reed and Sanford Weill ran Citigroup together for a while before falling out. Reed even left the corporate world for a time.
A deep executive bench is always a plus, but in the end, one person at the top seems to be the final answer.
Also in the basket:
Rite Aid cuts view after latest loss; shares skid
H&M August sales disappoint as shoppers hunt for bargains
Buffett sings praises of a Chinese suit (WSJ)
Andy Puzder, chief executive of Carl’s Jr and Hardee’s parent CKE Restaurants, is not a man to mince words and on Thursday he shared his views on “socialist type” state governments in California and Oregon.
Many of the company’s Carl’s Jr restaurants are located in the Golden State, and Puzder has plans to lessen that exposure over time.
“As such, we’re targeting a large percentage of our growth in Texas. It is deemed to be more business friendly,” Puzder told analysts on a conference call.
“Oregon has a higher minimum wage and a similar regulatory structure as California and also has a similar socialist type government at the state level so business there actually can be as bad or worse than California,” he said.
“Texas is doing really well,” he added.
In its battle to end the myth of the $4 Starbucks coffee — the world’s biggest cafe chain is offering tips on how to save money in its cafes, which are lowering prices on some beverages as they battle market newcomer McDonald’s.
Starbucks Chief Financial Officer Troy Alstead earlier this week had some good news for its fans in places like Baton Rouge, Louisiana, Mobile, Alabama, and El Segundo, California.
Alstead said Starbucks removed 30 stores from its hit list of store closures, saying that each of the saved stores had improved profitability to a point where it made sense to keep them open.