Capgemini releases integrated procurement tool for NetSuite
New York – Capgemini is releasing its new Integrated Procurement and All-Channel Experience solution, inPACE for NetSuite. The new offering helps retailers run more effective multichannel commerce processes by integrating their transaction, fulfillment, merchandise planning and order orchestration functions.
Capgemini’s inPACE solution is designed to help businesses gain cohesive planning and supply-demand management capabilities powered by NetSuite so they can connect multichannel touch points and create a unified process that promotes long-term customer loyalty and satisfaction. The solution runs on an agile, cloud-based infrastructure. By leveraging NetSuite’s SuiteCloud Development Platform, Capgemini’s inPACE solution provides organizations with a single view of their business and customers.
Walmart buys social shopping site Luvocracy
The @WalmartLabs unit of the retailer’s Global eCommerce division has done another deal in Silicon Valley, acquiring the social shopping site Luvocracy.
The deal is the 14th in the past three years and is small by Walmart standards, involving a three year-old-startup with 16 employees. As with other deals, it was disclosed via a blog post by @WalmartLabs vp of global products Ben Galbraith. He noted that the acquisition of Luvocracy, one of the first companies to enable the social shopping experience, would give a boost to Walmart’s mission of saving people money so they can live better.
“I’m pleased to announce that we’re acquiring Luvocracy, an online community that helps people discover cool products recommended by people whose taste they trust, such as family members, friends and online influencers,” Galbraith wrote in the July 29 blog post. “Founded three years ago, Luvocracy was one of the first companies to enable the entire social shopping experience – from discovery to commerce — to occur within the four walls of its app.
Galbraith highlighted four key individuals from Luvocracy that would be joining the @WalmartLabs team. They include, CEO and co-founder Nathan Stoll, VP of design Brooke Thompson, creative director Christine Martinea and VP of engineering Ajay Agrwal.
“We’ve been spending a lot of time with Nathan, Christine, Ajay, Brooke, and the rest of the crew – what an amazing bunch,” Galbraith said. “I’m so delighted to have them join us, and now we’ll be working together to create more of these fantastic moments when customers find delightful products at great prices. We’re excited to have this super-talented team bring their knowledge and experience to help us redefine the shopping experience of the future. I can’t wait to see the ideas we’ve been cooking up together come to life in our properties around the world.”
The deal comes about a month after @WalmartLabs acquired mobile fashion app Stylr.
True Value sales continue upward trend in second quarter
Expanded farm, ranch, automotive and pet products enabled True Value to grow second quarter same store sales 2.2% and report broad-based strength at its nationwide network of 4,500 stores.
Revenue was $429.5 million, an increase of 4.5% from $411.2 million for the same period a year ago. The cooperative posted a quarterly net margin of $23.2 million, down 2.5% compared to $23.8 million from a year ago.
"In the second quarter, we saw a continuation of first quarter sales increases. In fact, on a year-to-date basis, we had revenue increases in all regions of the country and in all 10 of our product departments," said president and CEO John Hartmann. "From a profit perspective, the incremental gross margin from the sales increase was offset by higher inbound freight expenses and our planned one-time expenses and retailer subsidies related to the roll out of our new ‘Color by Design’ paint colorant systems, equipment, displays and collateral."
During the first half of the year, True Value continued to grow its square footage and member base. In the six-month period, the company added 428,000 sq. ft. of relevant retail space continuing its commitment to grow Destination True Value and other relevant retail space in its network. Conversions continued at an elevated pace with 34 new members signed to-date in 2014, for an estimated $11.9 million in new annualized handled business.