REAL ESTATE

Cabela’s to enter New York and Massachusetts

BY Marianne Wilson

Sidney, Neb. — Cabela’s Inc. continues to expand East with plans to open its stores in the states of New York and Massachusetts.

The hunting, fishing, camping and related outdoor merchandise retailer will open an 88,000-sq.-ft. store in the Buffalo suburb of Cheektowaga, N.Y., in fall 2014, and a similarly sized one in the Boston suburb of Berlin, in spring 2015. The exteriors of both locations will reflect Cabela’s signature log construction, stonework, wood siding, metal roofing and a large glass storefront.

In addition, the retailer announced it will expand its newer, smaller-footprint store, Cabela’s Outpost, to Lubbock, Texas. Construction of the 42,000-sq.-ft. store is scheduled to begin this fall with a summer 2014 opening.

Cabela’s Outpost stores are generally located in markets of less than 250,000 people. They are designed for efficiency, flexibility and convenience, offering customers access to all Cabela’s merchandise via online order kiosks and an in-store pickup program.

Currently, Cabela’s operates 44 stores across North America. The company has now announced plans to open 16 locations over the next two years.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
FINANCE

Jos. Bank’s Q1 profit down 45%

BY Marianne Wilson

Hampstead, Md. — JoS. A. Bank Clothiers’ net income for the first quarter of fiscal year 2013 fell 45% to $8.1 million, down from $14.8 million for the first quarter of fiscal year 2012.

Total sales for the first quarter decreased 2.6% to $196.1 million from $201.4 million in year-ago period.

Same-store sales decreased 8.5% and direct Marketing sales increased 12.6% in the first quarter of 2013 as compared to last year. Combined same-store and Internet sales for the first quarter of fiscal year 2013 decreased 6.4% when compared to the year-ago period.

“While we were able to control our expenses and improve our advertising efficiency in the quarter, our sales declined 2.6%, primarily in April. In addition, our gross profit margin was down primarily due to higher inventory sourcing costs and lower average selling prices due mostly to an increased percentage of sales of winter and other clearance products. Like many other retailers, we were also affected by the unseasonably cool weather which adversely impacted both our sales and gross profit margin,” stated R. Neal Black, president and CEO of JoS. A. Bank Clothiers.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
OPERATIONS

Cisco: Consumers increasingly prefer self-service shopping experiences

BY Marianne Wilson

San Jose, Calif. — The majority (61%) of global consumers are open to shopping at a ‘self service’ fully automated store with vending machines and kiosk stations offering virtual customer service, according to a new survey by Cisco.

The report, the Cisco Customer Experience Report, examined the impact of automation, self-service and omni-channel shopping experiences and consumers’ views about providing their personal information in exchange for more personalized services. It found that when checking out, the majority of consumers globally (52%) prefer self-checkout stations to avoid waiting in line to make purchases.

The younger consumers were the most accepting of this shopping experience with 57% of the generation Y (aged 18 to 29) and 55% of the generation X shoppers (aged 30 to 49) preferring self-checkout, while baby boomers (50+) only represented 45%.

“The data in Customer Experience Report shows a growing consumer desire for an omni-channel shopping experience, where the speed and personalization they receive online is delivered in an increasing self-service manner in the store,” said Jon Stine, retail services practice, Cisco Internet Business Solutions Group.

The Cisco report surveyed 1,511 consumers across 10 countries to examine the perceptions of consumers on their desired retail shopping experience.

Among its findings:

  • Omni-channel continues to grow with 34% of global consumers using multiple channels when shopping. The survey shows 23% of consumers recently made in-store purchase based on research they did online, and 11% of shoppers purchased online after seeing it in a retail store.
  • When researching products in the store, 43% prefer using their own mobile phone while 57% consumers prefer using in-store touch screens.
  • Forty-nine percent of consumers would allow an automated engine to make purchases for replacement products automatically, for example this could include restocking milk in the refrigerator.
  • More than half (52%) of global consumers would likely purchase a device to help them stay on budget for the retail purchases of cloths and other retail purchases.
  • Sixty-five percent of global consumers are comfortable receiving mobile retail advice based on their location through their mobile device.
  • Although many shoppers want automation when purchasing, consumers are evenly divided, with 58% of consumers preferring help from an in-store associate. And when shopping online, slightly more consumers prefer to instant message with a sales associate (30%), or call them on the phone (28%) verse sending an email (27%).

Overall, according to Cisco, the report demonstrates consumer interest in more automated and personalized shopping experiences; the type of connections made possible by what Cisco describes as the “Internet of Everything.” The Internet of Everything brings together people, process, data and things to make networked connections more relevant and valuable than ever before. Cisco recently released an analysis that identified a $14.4 trillion in bottom-line business value that will be created over the next decade by the Internet of Everything innovations.

keyboard_arrow_downCOMMENTS

Leave a Reply

T.Platt says:
Jun-06-2013 02:41 pm

Consumer preferences
Consumers want to shop their own way, so give them the #CEX they want, across all channels http://amex.co/13rIN5K

T.Platt says:
Jun-06-2013 02:41 pm

Consumers want to shop their own way, so give them the #CEX they want, across all channels http://amex.co/13rIN5K

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...