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Abercrombie & Fitch taps Kohl’s exec as CFO

BY Marianne Wilson

New Albany, Ohio — Abercrombie & Fitch Co. announced that Joanne C. Crevoiserat has been named executive VP and CFO of the company, a position she is expected to take up in May, 2014.

Since 2007, Crevoiserat has served in a number of senior management roles at Kohl’s Inc., most recently as executive VP of finance and prior to that, as executive VP of merchandise planning and allocation. Prior to Kohl’s, she held senior finance positions with Wal-Mart Stores and May Department Stores, including serving as CFO of the Filene’s, Foley’s, and Famous-Barr brands.

During a transitional period, Crevoiserat will assume the merchandise planning and inventory management responsibilities currently held by Leslee Herro, executive VP of merchandise planning, inventory management and brand senses, who will retire in September 2014. Beyond the transitional period, Crevoiserat will retain financial oversight of merchandise planning as part of her ongoing CFO responsibilities.

As part of the new branded structure, Herro’s category planning responsibilities will transfer to the new brand leadership teams.

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NRF: Easter spending slightly down in 2014

BY Dan Berthiaume

Washington, D.C. — The average American celebrating the Easter holiday in 2014 will spend an average of $137.46 on apparel, food, candy, gifts and more. According to the National Retail Federation’s Easter Spending Survey conducted by Prosper Insights & Analytics, this is slightly less than the $145.13 spent last year.

Total spending is expected to reach $15.9 billion. Though fewer Americans will celebrate this year (80.3% compared to 83% last year), those who do plan to celebrate will spend the most on a grocery bill for a family dinner or Sunday brunch out. According to the survey, 85.7% of those celebrating will spend an average of $43.18 on a holiday meal, totaling $5 billion.

Since the holiday traditionally marks the ceremonial start to spring, 42.9% will purchase new spring attire, spending an average of $22.71; total spending on apparel is expected to reach $2.6 billion. In addition, nine-in-10 (89.3%) of those celebrating will stock up on Easter candy, spending a total of $2.2 billion on their children’s favorite sweet treats. Families will also spend on gifts ($2.4 billion), flowers ($1.1 billion), and decorations ($1.1 billion).

The survey also found that many will use smartphones or tablets to check off their Easter shopping list. Of those who own smartphones, nearly one in four (23.4%) will use their device to research products or compare prices. Just 12.2% will make an actual purchase with their smartphone. Nearly one-in-five (19.2%) tablet owners will make a purchase on their device, but most will simply research holiday gifts, apparel and other items (30.2%).

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New app for Hispanic shoppers

BY Staff Writer

Bethesda, Md. — The Latinum Network — a company committed to helping big brands reach the U.S. Hispanic community — has developed an app specifically for Hispanic shoppers. Called Veo, the bilingual app offers free products, promotions, recipes, giveaways and more. It will also feature curated deals from across the web, which are fun products and services of interest and value to the U.S. Hispanic audience.

"Among Hispanics, shopping and couponing apps rank second, only to social media," says David Wellisch, Latinum’s co-founder. "Veo is the first app of its kind to bring genuine value and savings to the Latino consumer — through their smart phones."

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