Dick’s Sporting Goods targets female customers
Pittsburgh – Dick’s Sporting Goods Inc. is going to increase its focus on female customers. In a conference call with analysts discussing the company’s first quarter financial results, CEO Ed Stack said that the women’s segment has the most growth potential of any segment Dick’s targets.
The increased focus will include an expanded product selection for women, as well as female-oriented specialty stores located within larger Dick’s stores. Dick’s will make the wider women’s assortment available online as well as in stores.
After disappointing Q1, American Eagle to close 150 stores
Following disappointing results during the first quarter of fiscal 2014, which were consistent with the company’s expectations, American Eagle Outfitters has decided to close 150 stores in North America during the next three years, including nearly 100 AE stores.
For 2014, the company plans on closing approximately 50 AE and 20 aerie stores in North America. The store closings will translate to annualized after-tax savings of between $10 and $15 million beginning in 2015.
Net income dropped 86% to $3.87 million from $27.98 million, and total net revenue fell 5% to $646.13 million from $679.48 million. Same-store sales fell 10%. A significant decline in pretax income drove the company’s net income drop.
“Results were consistent with our expectations,” said interim CEO Jay Schottenstein. “The quarter reflected weak sales and increased markdowns. We are committed to improved profitability and are working hard to implement our plan to strengthen our brands, channels and operations. Specific actions underway include continuing to build strong omnichannel capabilities, rationalizing our store fleet, reducing expenses, growing international licensed stores, and most importantly, delivering great merchandise and customer experience across our brands. Our focus is on leveraging our strong brands and talented team in order to deliver long-term profitable growth and enhanced value for our shareholders.”
Study: Lack of reporting tools hinders e-commerce
Jacksonville, Fla. – A lack of robust reporting tools that can give a 360-degree view to all aspects of a customer purchase and profile can seriously hinder e-commerce growth and optimization. A new study of 4,346 e-commerce marketers conducted by MarketingSherpa and sponsored by EBay Enterprise company Magneto shows that companies with a testing and optimization strategy based on extensive historical data saw higher median conversion rates than those that test based on intuition, best practices or don’t test at all.
However, e-commerce margins tend to be holding steady or rising for most companies engaged in e-commerce.
"We know that marketing budget size and resource challenges are the most significant barriers to growth for fast-growing companies, and that driving qualified site traffic is critical for success," said Steve Denton, VP of EBay Enterprise Marketing Solutions. "It is vital for marketers to accurately measure and constantly compare results to benchmarks like these to make sure you are maximizing your marketing spend.”