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Summit Notebook

Exclusive outtakes from industry leaders

Archive for the ‘Consumer and Retail’ Category

June 18th, 2008

Audio - Bad Times? Good Times.

Posted by: Patrick Fitzgibbons

schaye1.jpgJim Schaye comes across as a perfectly nice fellow, but if you happen to work for a retailer and you see him walking up and down your aisles, checking out your stuff … well, think about dusting off that resume.

Schaye is chief executive of Hudson Capital Partners, and he works with struggling or restructuring retailers if they have to start selling off stores and/or getting rid of inventory.

So, if retailer “A” is declaring bankruptcy or some other similar event and they start selling off their stuff, Schaye and his team will bid to take over all the assets and sell them. They’ll sell it all — merchandise, real estate, even the shelves that the stuff is on will be sold.

Suffice to say, Schaye and his team have been busy these days — and they expect more business very, very soon. In this clip, he talks about one potential issue that is starting to come up — a glut of certain types of real estate which has fallen out of favor among those companies that might be buyers.

Schaye was speaking at this year’s Reuters Consumer and Retail Summit, which runs through Thursday in New York and London.

June 18th, 2008

Audio - Coupon clipping out: Coupon clicking in

Posted by: Patrick Fitzgibbons

team_dusing.jpgThe days of going through the Sunday papers and clipping all the double coupons you can find might be coming to an end.

While there are those few people out there (and we know some of them!), who actually enjoy a good session of clipping, Brent Dusing, co-founder and chief executive of Cellfire Inc, likes to see his coupons on his cell phone.

Cellfire, the first mobile application that allows people to use coupons and discounts from their favorite stores and restaurants, has been around for almost three years and has crafted a number of deals with national retailers like McDonald’s, Hardee’s, Hollywood Video, Enterprise Rent-a-Car, Arby’s and Ben & Jerry’s and a batch of local retailers, too (in Seattle alone there’s Mama Lucia’s, Dante’s or the Seattle Art Museum).

How does it all work? Walking or driving down the street, you get a message from Cellfire that says the retailer in your zip code has a special deal — so swing by and spend that cash.

Dusing — who seems appallingly young to have come up with such a cool idea — said at the annual Reuters Consumer and Retail Summit that business is doing well and they are adding retailers at a good clip.

Dusing was one of the featured guests at this year’s summit, held in London and New York. Next week, Reuters Global Real Estate Summit will be held in North America, Europe and Asia.

June 17th, 2008

Audio - Retail just like the old days … the REALLY old days!

Posted by: Patrick Fitzgibbons

storch1.jpgToys “R” Us Chief Executive Jerry Storch has expansion on his mind.

Storch, one of the featured guests at this year’s annual Reuters Consumer and Retail Summit, said on Tuesday he was trying to improve the mix and locations of its stores.

Adding new locations is a tricky proposition for any company, especially one that is so dependant on consumers having spare cash to buy discretionary goods like toys and games.

But Storch said he’s harkening back to ancient times — like the Romans or the Greeks … a LONG time ago — when shoppers congregated in one main area to buy all their wares, and has no problem seeing Toys “R” Us as playing a part in those concepts — he doesn’t even really seem to mind too much if he is located near a competitor.

The CEO also said that one of the keys to their success is that their stores are in the right locations. So, while adding new stores is definitely part of his plan, relocating underperforming stores is also on the docket.

Storch spoke to Reuters reporters and editors in our New York headquarters and the summit continues through Thursday in New York and London.

June 16th, 2008

Reuters Summit-Broadening its horizons

Posted by: Patrick Fitzgibbons

Perry Ellis International Inc is looking at getting a good bit more “international” — as befitting its full name.

Speaking at the annual Reuters Consumer and Retail Summit – held this year in New York and London — executives at the clothier said the company was exploring its options in China and India as part of a larger growth strategy.

Paul Rosengard, group president of premium brands and Francisco Hoffmann, vice president of strategic initiatives and investor relations, were two of the featured speakers on the first day of the summit, which runs through Thursday. 

“We are looking at a lot of deals, whether they are license deals or joint ventures, opening retail stores,” said Rosengard. “There aren’t department stores in China for example, they don’t have the malls.”

The company also said it was looking at trimming the amount of private brands — to 10 percent of total sales within three to five years from the projected 15 percent this year.

June 16th, 2008

Retailers facing an inflationary world

Posted by: Patrick Fitzgibbons

card1.jpgThe costs of raw materials and of just getting things from manufacturer to store shelves continue to rise and Wesley Card, chief executive of Jones Apparel Group said on Monday that those costs will likely continue to be an issue for companies like his and will also be passed on to shoppers — especially looking ahead to 2009.

Card, kicking off the annual Reuters Consumer and Retail Summit, said on Monday that those costs are especially seen in the production of footwear and accessories.

Rising costs in a retail atmosphere that is being hampered by a weak U.S. economy and record-setting oil prices are expected to be one of the highlights of this year’s summit, which includes guests from across the retail world.

The summit continues through Thursday in New York and London.

June 14th, 2008

Video - Investors look to gold and diamonds

Posted by: Nicole Volpe

Investors are looking at precious metals and diamonds while the super rich are snapping up key pieces of jewellery.

The London Jewellery Week is the first of its kind in the British capital, and celebrates design and innovation. The current economic slowdown is prompting people to tighten their belts. But affluent investors are still going for expensive jewellery, along with gold and diamonds, to diversify their assets.

Soundbite:

  • Duncan MacIntyre, Head of Private Office, Coutts.
  • James Amos, Boodles.Basmah Fahim reports.
  •  

    June 14th, 2008

    Video - Retailers face uncertain times

    Posted by: Nicole Volpe

     

    In the wake of rising gas prices, retailers like Borders are up against a waning US consumer. The company put itself up for sale in March.

    Like other retailers, Borders is trying new strategies to distance itself from its competitors.

    Diane King reports from New York.

    April 3rd, 2008

    Audio - Mexican retailer Soriana focuses on debt

    Posted by: cyntia.barrera

    soriana.jpgAfter closing one of the biggest deals in the Mexican retail market in a decade by acquiring more than 200 stores from rival Gigante, Soriana plans to focus on keeping a tidy mid-term debt profile.
    The Gigante transaction, which helped strengthen Soriana’s position against leader Wal-Mart de Mexico, will slow down the retailer’s organic growth for the next two years but the company hopes store openings will gather speed again in 2010.
    Listen to Chief Financial Officer Aurelio Adan speak at the Reuters Latin America Investment Summit about how the company will handle debt in the next five years and the reasons why he thinks Soriana stock is undervalued.

    April 2nd, 2008

    Audio - Tough ride ahead for Mexico’s biggest retailer

    Posted by: cyntia.barrera

    walmex.jpgWalmex, the Mexican arm of U.S. retail giant Wal-Mart Stores Inc., is set for another tough year amid an economic slowdown that is making it more difficult for customers to buy anything from food to clothing.
    In 2007, retailers were hurt by a downturn in the Mexican and U.S. economies. However, Walmex hopes that its first-quarter results will be decent. 
    Listen to the company’s Chief Executive Eduardo Solorzano talk about the challenges ahead during Reuters Latin America Investment Summit. 

    June 20th, 2007

    VF looks for more things to buy

    Posted by: Brad Dorfman

    vf2.jpgVF Corp. already makes Lee jeans, North Face jackets and Nautica sportswear. Now the company is looking for more brands to put in its closet.

    Chief Executive Mackey McDonald told the Reuters Consumer and Retail Summit that the company is eyeing more outdoor and sportswear brands that cater to women as it keeps up its acquisition pace.

    “We have a lot more resources behind our acquisition strategy today,” McDonald said. “Part of that is (because) it’s tougher. Everyone is aware of the fact that it’s a tough climate out there with a lot of private equity funds looking for opportunities.”

    Video: VF CEO on acquisitions