GENCO and SnapRetail offer liquidation new look
The nation’s largest wholesaler of retail returns, GENCO Marketplace, and marketing automation provider SnapRetail, have combined to bring new capabilities to those looking to efficiently and profitably liquidate merchandise.
The companies joined forces to offer new, easy-to-use online marketing tools to retailers and resellers within the $2.5 billion GENCO Marketplace who will receive special software pricing, access to free educational resources and one-on-one consultations from SnapRetail.
"GENCO Marketplace believes retailers and online sellers need to be strong digital marketers to be successful in today's ever-changing landscape," said Laurie Barkman, CEO of GENCO Marketplace. "We are partnering with SnapRetail to bring a leading marketing system to our customers."
SnapRetail is a Pittsburgh-based software company that helps thousands of independent retailers with their online marketing needs by making it easy to promote their brands through email and social media marketing.
"We're thrilled that GENCO Marketplace has chosen to partner with us," said SnapRetail CEO, Ted Teele. "We're also excited that GMP will be able to help our customers increase their margins with secondary merchandise."
GMP is a subsidiary of global logistics and product lifecyle leader Genco.
Rights come with responsibilities at Gander Mountain
Firearm safety is taken seriously at outdoor retailer Gander Mountain where the company is giving away 50,000 trigger locks in a unique promotion.
The trigger lock giveaway is a significant commitment, considering the devices retail for $9.99, but the cost of goods could be more than offset by an increase in traffic ahead of the fall hunting season. The trigger lock giveaway begins this Friday September 17 and runs for three days to coincide with what the company is calling its biggest hunting sale of the year.
To receive a trigger lock, customers must take the Gander Mountain responsibility pledge and commit to securing their firearms. The company says it is, “committed to the mandate of responsible firearms ownership, and the importance of guarding against firearms getting into the hands of the underage, untrained and unauthorized. We believe that with rights comes responsibility, so we’re encouraging individuals to take this pledge to secure their firearms.
New not enough to drive General Mills sales
The worldwide introduction of 250 new items in the couldn’t help General Mills overcome other challenges that caused sales and profits to decline during the company’s first quarter.
Total company sales during the quarter ended August 24 declined 2% to $4.27 billion and earnings per share fell to 55 cents from 70 cents last year with the U.S. retail climate causing much of the company’s difficulties.
“Our results were driven by sales and profit declines in the U.S., where industry trends were weak in the quarter,” said General Mills chairman and CEO Ken Powell. “In addition, higher merchandising expense for our U.S. retail businesses in this period depressed reported net sales and gross margin."
Sales at the company’s U.S. division declined 5% to $2.44 billion while operating profits tumbled to $457 million from $612 million the prior year. Reasons cited for the decline were unfavorable price realization, mix, and lower volume.
“We made some important progress in the first quarter," Powell said. "In U.S. Retail, our Yoplait yogurt business returned to growth, with volume, sales, and market share gains. Several other key product lines including Big G cereals, grain bars, and fruit snacks achieved market share increases. Our cnvenience stores and foodservice segment generated sales growth and an 18% operating profit increase. And our International business segment posted 17% constant-currency profit growth with good constant-currency sales gains, notably in Latin America and Europe."
General Mills introduced more than 250 new items worldwide during the first quarter, including U.S. retail launches such as Cheerios Protein cereal, Chex gluten-free oatmeal varieties and new flavors of Yoplait Greek and Greek 100 yogurt. Other U.S introduction included Fiber One Streusel snack bars and Old El Paso Bold stand and stuff taco kits.