Bed, Bath and Beyond misses on Q1 profits, sales
Union, N.J. – Bed, Bath and Beyond Inc. had a difficult first quarter of fiscal 2014, missing Wall Street estimates on both profits and sales. Net earnings fell 8% to $187.1 million, from $202.5 million in the same period a year earlier. Sales rose 2% to $2.66 billion from $2.61 billion, and same-store sales climbed 0.4%.
Lower-margin merchandise, increased customer coupon redemption and stronger online competition all negatively impacted Bed, Bath and Beyond’s net earnings performance. The retailer expects net earnings to increase for all of fiscal 2014.
Brooks Brothers names designer Zac Posen as women’s creative director
New York – Brooks Brothers has named designer Zac Posen as creative director for its signature women’s collection and accessories. In this new role, Posen will direct the current Brooks Brothers design and merchant teams and will be responsible for the women’s collection and affect a variety of areas including brand development and presentation for the women’s label.
Posen’s first women’s collection for Brooks Brothers will debut in spring 2016 and will be available worldwide. Posen launched his eponymous collection in 2001.
Adobe releases new personalization solution
San Jose, Calif. – Adobe is releasing Adobe Target Premium, a new personalization solution that leverages predictive technology to deliver automated decisioning. Adobe Target Premium is part of the Adobe Marketing Cloud.
Some of the new features include:
- Enhanced Automated Decisions: enables organizations to launch automated campaigns with a few clicks, driving gains in engagement, conversion and revenue.
- Deeper Audience Targeting: Adobe Target is now integrated with Adobe Analytics to leverage behavioral data that builds a Master Marketing Profile that assists in automated decisions, deeper audience targeting, mobile, reporting analytics, marketer workflow, and services.
- More Powerful Reporting: with the Adobe Analytics data, this creates an automatic, two-way feed between optimization activities and marketing analytics.