Budget family-fashion retailer continues to expand
Forever 21 is growing its its lower-priced format, F21 RED.
The chain has opened three new stores, with locations in Brooklyn, New York; San Diego, California and Kendall, Florida. The Brooklyn store is 35,000 sq. ft., while the San Diego and Kendall locations are more than 20,000 sq. ft.
Forever 21 launched F21 RED, which carries merchandise for men, women and children, in the first quarter of 2014. There are currently more than 20 F21 locations in the United States.
Great Post! Thanks to share
Great Post! Thanks to share
And the top CEOs are….
Executives from retail and restaurant chains grabbed some of the top spots in an annual ranking of the nation’s top CEOs.
Rite Aid chairman and CEO John Standley was rated the number one executive on ExecRank’s 2015 Top Mid Cap CEOs list. Taking the number two spot: Sally J. Smith, CEO and president of Buffalo Wild Wings. Gary Friedman, chairman and CEO of Restoration Hardware Holdings, took the third spot.
"John's done an incredible job and has an ubelievable pedigree across a whole number of positions at Rite Aid," Jonathan Aspatore, CEO ExecRank, told TheStreet in a video interview. "He's been there since 1999, and he's had the role of chief operating officer, chief financial officer, chief administrative officer. That multitude or roles has really helped him excel in bringing the company forward.”
"The earnings per share over the last five years is [up] over 40%, which is incredible for a mature retailer," Aspatore added. "And with the potential acquisition looming from Walgreens, there's a lot of different variables that brings into play. … We think he's done just an incredible job of managing all of it."
Tim Cook, CEO of Apple, was named the No. 1 CEO among large-cap companies. Also in the top five was Wal-Mart Stores president and CEO Doug McMillon, at No.4.
"As CEO, Doug leads a strong management team that is working to deliver Walmart’s mission of 'saving people money so they can live better,'" ExecRank said in its writeup of McMillon.
ExecRank produces c-suite executive rankings based on statistical and algorithmic analysis of executive performance across 24 key areas, including experience in the executive role; business results during tenure; company earnings per share growth this year; and industry/professional reputation.
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IDC: ‘Mobile first’ looks like a smart strategy
Retailers who are focusing on mobile as a means of digitally engaging customers have some solid data backing up their approach.
According to a new study from the International Data Corporation (IDC), “How the World Uses the Internet,” more than 2 billion people globally will be using mobile devices to gain access to the Internet in 2016.
In total, IDC estimates that 3.2 billion people, or 44% of the world's population, will have access to the Internet in 2016. This means close to two-thirds of global web users will be mobile in the coming year.
The total number of mobile Internet users is forecast to rise at a pace of 2% annually through 2020, unless significant new methods of gaining access to the Internet are introduced. Efforts by Google, SpaceX, and Facebook among others to make the Internet available to the world’s remaining 4 billion people via high altitude planes, balloons, and satellites are underway. However, IDC advises it remains unclear how successful these endeavors will be and when they will be operational at scale.
In good news for retailers, IDC finds that more people than ever before are making purchases online across all channels. In 2015, more than $100 billion will be spent online on each of the following categories: travel, books, CDs and DVDs, downloading apps, and online classes. According to IDC, these purchases are enabled by online payment platforms that are making payments, online and off, easier and more secure.
Furthermore, IDC data indicates that as more people are spending more time and money online, increasingly through mobile devices, advertisers are shifting their spending accordingly. Almost all of the growth in advertising spending across all of its forms is attributable to the growth in mobile advertising and online video. Advertisers are able to direct ads to users based on their preferences as indicated by online behavior, which allows them to better understand how their content is being absorbed than ads on television and radio.
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