CBL to launch mobile app
Chattanooga, Tenn. Mall owner CBL & Associates Properties said Tuesday it has partnered with mallMerlin LLC to launch a smart phone mobile application in CBL malls around the country.
CBL said the mallMerlin mobile application will deliver special features and promotions, high-definition video and in-mall navigation to consumers based on their location within the mall.
Additionally, through a Content Management Solution, the app allows participating retailers to customize their offers in real time by region or at store level. Upon entering a mallMerlin mall, consumers can elect to shop by category, by store, or by “stroll,” meaning they are browsing and window shopping.
“We are always looking to harness new technology to provide shoppers with a better way to shop and retailers with a great point-of-sale communication tool,” said Jim Ward, senior director–brand development for CBL & Associates Properties. “mallMerlin delivers on both fronts as it was developed to provide customized and real-time information directly from the retailer to the consumer. It allows visitors to CBL Malls to continue to shop as normal while taking advantage of the savings and convenience features in the app.”
The app will be available in the iTunes app store. Shoppers will then be able to download mallMerlin to their iPhone, iPad, and iPod Touch for free; mallMerlin for other smart phones is under development as well.
CBL owns, holds interests in or manages 161 properties, including 85 regional malls/open-air centers.
Tuesday Morning sees improved profitability
DALLAS Tuesday Morning reported that, as previously announced, net sales for the fourth quarter of fiscal 2010 were $200.8 million compared with $188.7 million for the quarter ended June 30, 2009, an increase of 6.4%. Comparable-store sales for the quarter ended June 30 increased 6% and was comprised of a 5.7% increase in traffic and a 0.3% increase in average ticket. Net income for the quarter ended June 30, 2010 was $1.3 million, or 3 cents per diluted share, compared with a net loss of $1.6 million, or a 4 cents loss per diluted share, for the same period last year.
For the fiscal year ended June 30, net sales were $828.3 million compared with $801.7 million for the year ended June 30, 2009, an increase of 3.3%. Comparable-store sales increased by 2.2% for the fiscal year. This increase in comparable-store sales was comprised of a 3.4% increase in traffic offset by a 1.2% decrease in average ticket. For the fiscal year ended June 30, the company had earnings per diluted share of 25 cents versus 0 cents for fiscal 2009.
Kathleen Mason, president and CEO, stated, “We posted solid improvements in both the fourth quarter and fiscal year 2010 sales and earnings. For the third consecutive quarter, we achieved positive comparable-store sales increases. This top-line improvement driven by a steady increase in traffic demonstrates that our customers continue to be attracted to our value proposition.”
For the fiscal year ending June 30, 2011, Tuesday Morning said it expects net sales to be between $870 million and $880 million and comparable-store sales in the positive low single digits. Diluted earnings per share are expected to be between 39 cents and 43 cents.
Setting a new standard
Target turned to New York’s ultra hip The Standard hotel last week as the venue to set a new standard for event marketing and the promotion of brand equity. The hotel and the street in front of it were the venue for the Target Keleidoscopic Fashion Spectacular, which offered a look at the fall styles from Mossimo, Merona, Converse One Star, Xhilaration, Pure Energy and Liz Lange.
Target took over the trendy Manhattan hotel in an area known as the Meatpacking District to stage a Cirque-Du-Soleil style, seen-and-be-seen type event that blended light and sound with lots of a beautiful people who gathered in the street to watch as models paraded by in Target clothes, and 66 dancers appeared behind them in the hotel’s multi-colored illuminated rooms.