Collective Brands swings to Q2 profit
Topeka, Kan. — Collective Brands Inc. reported Friday that net income for the second quarter was $9.7 million, compared with a loss of $35 million last year when it booked nearly $84 million in one-time charges.
Sales for the owner of Payless ShoeSource and Stride Rite grew 6% to $886 million and same-store sales rose 2.9%.
The results were in spite of closing hundreds of stores and taking charges related to the pending sale of the company to a consortium made up of Blum Strategic Partners, Golden Gate Capital and Wolverine World Wide slated to close in the third or fourth quarter.
Survey: BTS shopping shows surge in coupon use
Austin, Texas — A survey released Friday by coupon site RetailMeNot found that coupon use for back-to-school shopping surged this year, particularly for retailers selling books, school supplies and apparel.
According to RetailMeNot, which measured coupon usage during the July 1 to Aug. 20 selling period, as compared with the prior three months, the average daily coupon clicks increased more than 130% for book retailers, more than 40% for merchants selling back-to-school supplies and more than 30% for stores selling apparel and shoes.
RetailMeNot also announced the findings of a survey conducted by Ipsos Public Affairs, which revealed new shopping patterns among consumers with children headed back or already back in the classroom. Results included:
- More than half (59%) of parents say they usually finish their back-to-school shopping by the end of summer;
- Forty seven percent say they will finish the bulk of their back-to-school shopping in August; 8% say they are usually done in July; 3% in June; and 2% before the previous school year even ends.
- However, nearly three in 10 parents (28%) report that they usually finish the bulk of their back-to-school shopping at some point in September.
- By region, parents in the northeast are more likely to finish the bulk of their shopping sometime in September (45%) as compared with those from the West (28%), Midwest (26%), or South (22%).
Although the majority of parents say that they begin their back-to-school shopping over the summer, when asked how far along they are once school actually starts, fewer than four in 10 (37%) say that they are done with their shopping by the start of school. About three in ten (28%) parents say that they usually have a few things still left to buy for their children but that they are mostly done; 9% say they still have several key items they need to purchase; and 4% say they are nowhere near done.
Additionally, about one in 10 (11%) say that they like to shop after the start of the school year to see what their children’s actual needs are.
The survey found that in-store shopping is far preferable to online, with 83% of parents opting to do back-to-school shopping in stores, and 8% preferring to do so online.
Shoppers insights firm names SVP
Angela Myers was named SVP of retail consulting at Spire, a quantitative shopper intelligence firm.
Myers joins Spire from A&P where she served as VP of sales and marketing where he responsibilities included brand development across five banner brands and multiple tiered store brands, interactive marketing across all digital platforms, consumer analytics and insights, market research, loyalty marketing and promotion management. She also lead e-commerce initiatives for three participating banners. She also served as the food retailer’s senior director of consumer insights and CRM.
According to Spire, Myers is recognized as an innovative leader in the development of integrated, multi-dimensional consumer and customer insights and brings to the company a wealth of expertise in the application of insights through effective customer specific marketing programs and communication strategies at retail. At Spire, she will look to expand the relationships with retail partners by enabling successful marketing and merchandising plans, developing innovative, custom programs driven by shopper insights and supporting a customer centric culture.
"We’re thrilled to have Angela join us" said Spire president Mike McMahon. "With her deep retail experience and relationships, she will be playing a key role on our leadership team."