OPERATIONS

Clinton Group names high-profile board nominees for Wet Seal

BY Katherine Boccaccio

Foothill Ranch, Calif. — As part of its push toward forcing Wet Seal to put itself up for sale, investor Clinton Group on Thursday named its own slate of board candidates to replace the existing members.

Clinton’s candidates include former United Retail Group chief Raphael Benaroya, former chairman and CEO of Charming Shoppes Dorrit Bern, former Aeropostale co-CEO Mindy Meads, former Aeropostale COO John Mills, and investment banker Lynda Davey.

Clinton Group owns more than 5% of Wet Seal and has been vocal in its criticisms of the chain’s financial struggles. On Wednesday, current Wet Seal chairman of the board Harold Kahn adopted a poison pill defense and also retained Guggenheim Securities and Peter J. Solomon Co. to perform a strategic review of the company to maximize shareholder value.

According to Clinton’s senior portfolio manager Joseph De Perio on Thursday: “This board has failed shareholders. After years of strategy shifts, personnel changes and financial and operational mismanagement, it is time for shareholders to put in place a board that will work feverishly to fix the damage.”

Wet Seal fired its CEO Susan McGalla on July 23, and Clinton Group called for the sale of the company on the same day.

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Survey: 57% of app users say they may do holiday shopping on mobile device

BY Staff Writer

Palo Alto, Calif. — A survey released Thursday by Apigee found that three out of five – or 57% – of mobile app users would consider purchasing their holiday gifts this year on a mobile device.

The 2012 Holiday Shopping survey revealed that the top items that would potentially be purchased via mobile are books (32%), electronics (31%), gift cards (27%), DVDs/Blue-ray discs (26%), clothing (24%) and toys (20%).

When asked about the benefits of using a mobile device to buy gifts this holiday season, 82% of mobile app users said there are benefits including:

  • Browsing for deals wherever you are – 50%;
  • Performing price comparisons inside a store – 48%;
  • Using a mobile device to find a retail store – 40%;
  • Redeeming electronic coupons – 38%;
  • Secretly shopping without a spouse/significant other knowing – 25%;
  • Buying embarrassing or personal items without using a work computer – 14%; and
  • Sneaking shopping time in at work – 12%.

And mobile app users are speaking out about what it means when a retailer does not provide a mobile app. More than half (54%) say there could be consequences when a retailer does not have a mobile app. The top concern was that they could waste a trip to the store looking for items they don’t carry (30%), followed by:

  • I could lose out on the best deals the store offers – 25%;
  • It makes me think the retailer is old-fashioned – 19%;
  • I could lose time – 17%;
  • I could lose money – 12%; and
  • It could hurt my loyalty to the store – 7%.

“These findings demonstrate that the app economy is having a big impact on the way we live, and people are increasingly demanding a lot more from the apps they use every day," said Chet Kapoor, Apigee CEO.

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Target reaches $2.5 million donation goal through Facebook app

BY Staff Writer

Minneapolis — Target Corp. said Thursday it has awarded $2.5 million in Target gift cards to schools across the country, much of it due to a strong Give With Target campaign with a robust Facebook participation.

“We are thrilled with the public’s response to Give With Target and the record level of engagement we saw through Facebook,” said Laysha Ward, president of community relations, Target. “Thanks to the millions of people who voted, Target will award thousands of schools with Target GiftCards to use for classroom resources just in time for the start of the school year.”

Give With Target resulted in the highest engagement of any social media campaign in Target’s history.

More than 30,000 schools will receive Target GiftCards as a result of the Facebook component of Give With Target. For every 25 votes a school received, it earned a $25 GiftCard from Target.

Give With Target launched on July 26 with two components. One component included awarding $25,000 grants to 100 in-need schools selected by Target. The other component of Give With Target included the Facebook voting campaign, which invited people to visit Target’s Facebook page and connect with its Give With Target app to vote for a school of their choice.

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P.Banik says:
Mar-11-2013 08:48 am

That would be a thoughtful gift for the students, there are a wide number of charity organizations available which allow us to participate in donation programs like car donation or in large boat donation programs.

P.Banik says:
Mar-11-2013 08:48 am

That would be a thoughtful gift for the students, there are a wide number of charity organizations available which allow us to participate in donation programs like car donation or in large boat donation programs.

A.Marius says:
Feb-28-2013 06:58 pm

A lot of donation campaigns have so much success because of Facebook, I was involved in a donate a boat project on Facebook and a lot of people liked our page. It was very interesting for me because it was the first time I was involved in a charity program.

A.Marius says:
Feb-28-2013 06:58 pm

A lot of donation campaigns have so much success because of Facebook, I was involved in a donate a boat project on Facebook and a lot of people liked our page. It was very interesting for me because it was the first time I was involved in a charity program.

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