Aritzia selects supply chain execution solutions from RedPrairie
Atlanta — Women’s fashion retailer Aritzia has chosen to roll out RedPrairie Corp.’s supply chain execution solutions in its 80,000-sq.-ft. distribution center in Vancouver, British Columbia.
Aritzia plans to deploy RedPrairie Warehouse Management, Workforce Management, Web Visibility, Slotting and Parcel solutions in its Vancouver facility to increase supply chain efficiencies, better manage inventory, and enhance order visibility and tracking. The scalable solutions will support the retailer’s double-digit growth and enable it to offer a buy anywhere, fulfill anywhere business model to its customers, RedPrairie said.
“We realized that we needed a proven enterprise solution with robust functionality to support the growth of our business and continue to deliver our high standard of customer service," said Rob Haynes, VP supply chain for Aritzia, which operates 50 stores across the United States and Canada. “To select a provider, we conducted an extensive search evaluating several solutions. We felt the team at RedPrairie was the best fit for us culturally. Additionally, their extensive industry experience combined with the scalable, multichannel capabilities of their solutions made them the right choice."
RedPrairie’s scalable solutions will support the retailers double-digit growth and enable it to offer a buy anywhere, fulfill anywhere business model to its customers.
Macy’s Q1 earnings rise 38%, beat Street but outlook disappoints
Cincinnati — Macy’s Inc. reported a better-than-expected 38% increase in its first-quarter profit as the chain continues to benefit from its move to target its offerings to local markets. However, the retailer disappointed the Street by failing to up its guidance for the year.
Macy’s said that its net income rose to $181 million for the three-month period ended April 28, up from $131 million a year ago.
Revenue increased 4.3% to $6.14 billion, from $5.89 billion a year ago. Same-store sales were up 4.4%.
Online sales (macys.com and bloomingdales.com combined) were up 33.7% in first quarter 2012. (Online sales are included in the same-store sales calculation for Macy’s.)
“The momentum in our business at Macy’s and Bloomingdale’s continued to build in the first quarter, with sales and earnings exceeding our expectations going into the year,” Terry J. Lundgren, Macy’s chairman, president and CEO, said in a statement. “The quarterly data clearly demonstrates the strength of our results as we continue to implement our strategies.”
Bed Bath & Beyond to acquire Cost Plus
Union, N.J. — Bed Bath & Beyond Inc. said that it has reached a definitive agreement to acquire Cost Plus in an all cash transaction. The deal is valued at some $495 million, according to Reuters.
Based in Oakland, Calif., Cost Plus currently operates 259 stores under the names World Market, Cost Plus World Market, Cost Plus Imports, and World Market Stores in 30 states.
“We are thrilled about the prospects of welcoming the Cost Plus team and their customers and vendors to the Bed Bath & Beyond family,” said Steven H. Temares, CEO and member of the board of directors of Bed Bath & Beyond.
The boards of directors of both companies have unanimously approved the terms of the transaction, which is expected to close during Bed Bath & Beyond’s fiscal second quarter. Cost Plus will continue to be headquartered in Oakland following the transaction.