Abercrombie & Fitch conducts trade via cloud to support global growth; uses GT Nexus platform
New York – Abercrombie & Fitch has extended its contract with GT Nexus to expand its cloud supply chain strategy and improve visibility into the movement of orders, payments and goods. The retailer has automated its procure-to-pay process in the cloud using GT Nexus to create a transparent workflow environment for purchase orders, invoices, amendments and settlements.
Since 2010, Abercrombie & Fitch has used the GT Nexus platform to support international sourcing and supplier collaboration.
“GT Nexus simplifies the way we manage global commerce and allows us to work in a transparent, efficient environment,” said Larry Grischow, group VP supply chain for Abercrombie & Fitch. “We are able to transact more efficiently with suppliers around the world in ways that simply weren’t possible previously. We have fewer people answering calls from factories and handling paper invoices, and more staff focused on strategic initiatives to support our growth.”
In addition, during fiscal 2013 Abercrombie & Fitch expects to open a flagship retail location in Seoul, as well as approximately 20 international Hollister stores.
Video: Jennifer McFarland, senior accounting manager, supply chain, Abercrombie & Fitch:
No alternate suitors appear for Saks
New York — The planned merger between Saks Inc. and Hudson’s Bay Company (HBC) took another step forward with the expiration of the 40-day “go shop” period for Saks on Sept. 6. As previously disclosed, the merger agreement entered into on July 28, 2013 between Saks and HBC contained a 40-day “go-shop” period during which Saks was permitted to solicit alternative proposals from third parties.
Saks did not designate any third party as an “Excluded Party” with a superior written proposal. Thus Saks is now subject to customary “no-shop” provisions which are outlined in the merger agreement. The planned transaction has been approved by each company’s board of directors and is expected to close before the end of the calendar year, subject to approval by Saks shareholders and other customary closing conditions.
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Best Buy, Office Depot top retail back-to-school brands
Mountain View, Calif. — Best Buy was the most effective retail brand overall during the 2013 back-to-school advertising season for the second year in a row with an average Ace Score of 561, performing 15% higher than its retail peers, according to TV and video advertising data from Ace Metrix.
Office Depot was the second most effective back-to-school retail advertiser with an average Ace Score of 540.
Meanwhile, Ace Metrix reports Kmart ads aimed at a young, hip audience were highly polarizing and offended and confused many viewers. J.C. Penney debuted the most new creative this season but also experienced the largest decline in average Ace Score (484), dropping 14% from 2012. Target had the second most significant year-over-year decline of 12%. Retail ads accounted for 82% of total back-to-school ads
“This was a lackluster year for back to school, but technology and gadgets dominate this season with brands like Best Buy, Office Depot, and H.H.Gregg topping the list over traditional apparel and department store ads,” said Peter Daboll, CEO of Ace Metrix. “Best Buy returns this year as the most effective brand based not only on their compelling product-featured ads but engaging viewers with outstanding visuals and compelling stories of customized shopping experiences.”
In terms of most effective single ads, Best Buy had back-to-school ads with the highest and third-highest Ace scores, while J.C. Penney had the number two ad. Office Depot tied with Best Buy for number three and also had ads ranked sixth and seventh, Kohl’s had ads ranked fifth, eighth and ninth, and a Target ad took the 10th spot.
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