Fairway Market selects Revionics for price optimization
Roseville, Calif. — Revionics, Roseville, Calif., a leading provider in retail life cycle price-optimization solutions, announced that Fairway Market has selected the Revionics Price Optimization solution for base pricing.
Fairway Market’s current size and future growth plans require a price management and optimization system to manage the growth across all products and categories, which Revionics offers. As part of its strategic growth plan, Fairway has defined its category roles and key value items (KVIs), which Revionics will help monitor, manage and optimize.
“There were several reasons we selected Revionics’ Price Optimization over other retail pricing solutions,” said Kevin McDonnell, chief merchandising officer, Fairway Market, New York City. “It is robust and easier to use than other price optimization products, and we believe Revionics will truly partner with us to achieve our strategic, operational and financial objectives.”
Initially, Fairway’s objective is to properly define the category roles and automate its price maintenance. Price optimization tailored for each store will be the final step.
Jones Q1 profit down 34% on charges, costs
New York City — Jones Group’s net income fell 34% in the first quarter, weighed down by higher costs and charges tied to an acquisition.
Jones Group earned $25.9 million, compared with $39.4 million a year ago.
Jones Group said its quarterly results included about $11 million in costs and charges tied to its Stuart Weitzman acquisition and other restructuring and strategic review costs. Last year’s quarter included costs and charges totaling approximately $3 million.
Revenue increased to $961.3 million from $887.3 million, surpassing Wall Street’s $919.2 million.
Consumer confidence up
New York City — Consumer confidence recovered somewhat in April, though the impact of rising gasoline prices is still evident, according to data released Tuesday by the Conference Board.
The confidence index hit 65.4 in April, from an upwardly revised 63.8 in March. The reading is still below the 72.0 mark of February.
“Consumers’ short-term outlook improved slightly, suggesting that the uncertainty expressed last month is easing,” said Lynn Franco, director of the Conference Board’s consumer research center. “Although confidence remains weak, consumers’ assessment of current conditions gained ground for the seventh straight month, a sign that the economic recovery continues.”
While expectations among consumers that business conditions will improve over the next six months declined to 18.8% from 20.8%, those anticipating business conditions to worsen decreased to 14.2% from 15.5%.
Consumers were mixed about labor market outlook for the next six months. Those expecting more jobs in the months ahead declined to 17.5% from 19.6%, while those anticipating fewer jobs declined to 19% from 20.5%.