OPERATIONS

Big Lots board retains compensation committee chair

BY Dan Berthiaume

Columbus, Ohio – The board of directors of Big Lots, Inc. has retained director Russell Solt. Solt will also continue to serve as chairman of the compensation committee, which is composed entirely of independent non-executive directors.

At the company’s May 2013 annual meeting of shareholders, Solt received less than a majority of the shareholder vote in support of reelection. As a result, Solt offered to resign from the board in accordance with the company’s corporate governance guidelines. After considering the recommendation of the nominating / corporate governance committee and other relevant factors, the board determined not to accept Solt’s resignation. Solt did not participate in the consideration.

“The board of directors respects the views of our shareholders and, over the past year, the compensation committee and board have listened and taken significant steps to address concerns raised by our shareholders related to executive compensation practices, including reducing the overall CEO compensation package and more closely aligning compensation with shareholder returns," said Philip E. Mallott, chairman of the board. "As chairman of the compensation committee, Russell led these efforts and, together with other committee members and independent advisors, is currently evaluating further improvements to our executive compensation program. We believe that shareholders are best served by Russell’s continued involvement in this process. In addition, Russell’s financial expertise, knowledge of our business, and extensive experience in the retail industry make him a significant contributor to the overall work of our board of directors."

Solt’s term as director will continue until Big Lots’ 2014 annual meeting.

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News

Thai CPG provider adopts Jesta I.S. Vision Suite

BY Dan Berthiaume

Bangkok, Thailand — Berli Jucker PLC, (BJC), a Thailand-based provider of CPG goods, is adopting the Vision Suite enterprise platform from Jesta I.S. Merchandising and POS solutions are among the Vision technologies BJC is employing.

BJC will leverage the Vision Suite for managing its multi-channel retail operations in Thailand and Vietnam. Upon implementation, BJC will have an end-to-end integrated system delivering greater ability to analyze store strategy and visibility over retail decisions.

“One of our biggest goals was to partner with a global solution provider that can bring business expertise, implementation agility, and a technology platform to help us become a leading retailer in the entire Asian region,” said Phidsanu Pongwatana, senior VP, Berli Jucker PLC. “The Vision Suite will help us implement best business practices, and deliver business performance visibility during the critical initial stages of the retail business rollout in Thailand and Vietnam.”

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FINANCE

IBM: M-commerce fuels strong online sales in July and August

BY Dan Berthiaume

Armonk, N.Y. – Back-to-school sales may have been stronger than anticipated this year, judging by online sales performance in July and August. According to the IBM Digital Analytics Benchmark, online sales saw substantial gains from July through the third week in August, fueled by double-digit growth in mobile buying.

Specific findings for online sales activity in each month include:

July

  • The month of July saw a 15% increase in online sales, 8% increase in average order value and more than 9% growth in average per order. Early back-to-school bargains helped drive this activity.
  • Department stores recorded a 33% year-over-year increase in online sales during July, with a 40% boost in mobile sales.
  • Mobile sales were up 38% for the entire month of July compared to 2012. Mobile percentage of sales was up across the board, reaching almost 22% in July, a 37.6% increase from the previous year.
  • Mobile percentage of sales peaked the second week in July, ahead of Christmas in July sales, when it reached 23.2%, an increase of 55% from the same period in 2012. Mobile percentage of site traffic also peaked that same week at 30.9%, a 52% increase from the same period in 2012. The iPhone and iPad together were the two most popular devices for mobile shopping, with Android devices in third.

August

  • Online sales and average order value were up the first three weeks in August.
  • Consumers bought laptops and school supplies earlier than ever this year, with office supply/electronics online sales peaking the second week of August, up more than 35% from the same period last year. Improved online tablet experiences helped the iPad to drive 4.47% of online traffic, an increase of 71.9% from the same period in 2012.
  • The third week in August saw an average order value of $212.40, an increase of 6.5% resulting from big-box retailers that employed back-to-school Cyber Monday sales on Aug. 12. Online retail sales also saw a boost, up 13% from the same period in 2012.
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T.Platt says:
Aug-28-2013 12:54 pm

boosting mobile revenues
Retailers, brands and marketers can boost YoY mobile revenue growth by engaging consumers on their terms, delivering content contextually relevant to their activities, and selling what, when and where they want, via #CEM http://amex.co/13rIN5K

T.Platt says:
Aug-28-2013 12:54 pm

Retailers, brands and marketers can boost YoY mobile revenue growth by engaging consumers on their terms, delivering content contextually relevant to their activities, and selling what, when and where they want, via #CEM http://amex.co/13rIN5K

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