Esprit hires new CFO
Hong Kong — Esprit Holdings Ltd. announced Tuesday that it has hired Thomas Tang, former CFO of blue chip property firm Sino Land Co. Ltd., as its new group CFO.
Tang, who has over 30 years of experience in accounting and finance, left Sino Land in late March.
Esprit is in the throes of a major restructuring after its previous CFO resigned. Tang begins his post in May.
Study: E-retailers provide insights into multichannel visibility
Atlanta — A study released Tuesday by commerce provider Innotrac Corp. provided insights into how today’s e-tailers are faring in terms of online progression.
The study, called SmartHub, evaluated 100 leading U.S. e-retailers across six different product categories in February. It found that the average number of checkout pages required to complete an order was three. Only 7% of merchants surveyed offered one-page checkout as an option.
In other findings:
- Ninety-six percent of merchants surveyed were able to confirm inventory of a purchased item through customer service, however, of those who had more than one distribution channel (online plus physical stores, or catalog), only 47% of CSRs appeared to have visibility into activity happening outside of the e-commerce or direct channel.
- Sixty-five percent of merchants surveyed were able to ship packages to customers in three days or less, a slight improvement from the busy fourth quarter holiday season. Merchants in the housewares/home category were most expedient, with 74% of orders received within three business days.
- Thirty-eight percent of merchants utilized some sort of branded packaging, either inside or outside the box, up from 29% in the fourth quarter. Health/beauty merchants were most aggressive, with 53% utilizing branded packaging, the only category in the survey that indexed higher than 50%.
The addition of several new data points, including those pertaining to customer service, has provided additional insights not seen in previous surveys, said Innotrac. Multichannel visibility is one such area that is now being evaluated as retailers become more proficient at servicing customers who see no boundaries between online and brick-and-mortar outlets.
Sears Canada CEO reviews turnaround at annual meeting
Toronto — Sears Canada chief Calvin McDonald told attendees of the retailer’s annual meeting in Toronto on Tuesday that the focus will be on its strongest categories to more quickly effect a turnaround.
Hard goods such as appliances and tools will be a major focus in the company’s three-year turnaround plan, said McDonald. Sears Canada is majority-owned by Sears Holdings Corp.
According to McDonald, four stores are currently being renovated to reflect the new focus on hard goods. As well, he said Sears would open four pilot stores under the Corbeil appliance banner in the Toronto area.
“We view this as an effective way to maintain our strength in major appliances,” he said.
A training initiative, also reviewed in the annual meeting, will see some 20,000 staff members re-trained with the new focus in mind.