Federated Department Invests in IT
Orlando, Fla., Supply chain solutions provider Manhattan Associates, Inc. announced that its Integrated Logistics Solutions will support Federated Department Stores’ direct-to-consumer business—including macys.com, bloomingdales.com, Bloomingdale’s By Mail, macysweddingchannel.com and bloomingdalesweddingchannel.com. The supply chain execution and business-intelligence capabilities within Manhattan Associates’ warehouse-management, labor-management, slotting-optimization and performance-management solutions will support increasing volumes of on-line orders and enhance efficiency and customer service. As it opens its direct-to-consumer distribution center in Portland, Tenn., Federated will utilize the labor-management and slotting-optimization solutions to optimize facility resources, increase the productivity of its workforce and establish efficient processes.
Wal-Mart to Exit South Korea
New York City, Wal-Mart Stores Inc. said South Korea’s Shinsegae Co. agreed to buy Wal-Mart’s South Korean retail business for 825 billion won, or $882 million. Shinsegae said plans to operate Wal-Mart Korea as a separate subsidiary and the stores will be renamed E-Mart, the name of its discount chain that accounts for about 30% of the local discount store market. “As we continue to focus our efforts where we can have the greatest impact on our growth strategy, it became increasingly clear that in South Korea’s current environment it would be difficult for us to reach the scale we desired,” Mike Duke, VP of Wal-Mart, said in a statement.
Survey: Fluctuating Gas Prices Increasingly Impact Consumer Spending
Washington, D.C., The National Retail Federation’s (NRF) 2006 Gas Prices Consumer Intentions and Actions Survey from BIGresearch reported 76.0% of consumers believe fluctuating gas prices impacted their spending habits, up from 67.2% in 2005 and 56.8% in 2004. While consumers seemed resilient in the face of higher energy costs, a tipping point may soon be in sight. This could reduce flexible spending and cause the economy to lose much of the steam built up over the last two years.