C-SUITE

Genesco promotes company veteran as it plans for the future

BY Marianne Wilson

Genesco Inc. announced that Mario Gallione has been named president of the company's Journeys retail division. He most recently served as chief merchandising officer of The Journeys Group.

Gallione will report to James C. Estepa, who will continue to serve as CEO of The Journeys Group. Estepa also remains a senior VP of Genesco. Gallione's appointment is intended as the first step in a succession plan to prepare for Estepa's eventual retirement.

Gallione is a 38-year employee of Genesco and has been associated with Journeys since 1994. In his new role, he assumes responsibility for all aspects of the Journeys and Journeys Kidz retail operations, including stores in the U.S. and Canada as well as journeys.com and journeys.ca.

"Mario Gallione is a seasoned leader, well respected within The Journeys Group, throughout Genesco, and across the footwear retail industry, and I look for Journeys to continue to do great things under his leadership," said Robert J. Dennis, Genesco's chairman, president and CEO.

Genesco Inc. sells footwear, headwear, sports apparel and accessories in more than 2,740 retail stores and leased departments throughout the U.S., Canada, the United Kingdom, the Republic of Ireland and Germany, principally under the names Journeys, Journeys Kidz, Shi by Journeys, Schuh, Schuh Kids, Little Burgundy, Lids, Locker Room by Lids, Lids Clubhouse, Johnston & Murphy, and on internet websites.

The company's Lids Sports Group division operates the Lids headwear stores, the Locker Room by Lids and other team sports fan shops and single team clubhouse stores. In addition, Genesco sells wholesale footwear under its Johnston & Murphy brand, the Trask brand, the licensed Dockers brand, G.H. Bass & Co., and other brands

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
FINANCE

Warehouse club giant tops estimates in August

BY Marianne Wilson

Costco Wholesale Corp. turned in a strong performance in August, helped by a big increase in online sales.

Net sales rose 10% to $9.8 billion for the month of August, from $8.9 billion during the similar period last year. Total same-store sales rose 7.3%, higher than the 6.1% Wall Street expected. Same-store U.S. sales rose 7.4%, easily topping estimates for a 4.9% to 5.3% increase. Costco's comparable e-commerce sales jumped 26% in August.

"In recent months, Costco has experienced an improvement in online sales due to various factors including an improved merchandise selection, member value, greater website awareness, reduced delivery times and a better user experience," Barclays analyst Karen Short said in a research note on Thursday, reported The Street.

For the first 52 weeks of its 53-week fiscal year ended Aug. 27, Costco reported net sales of $123.5 billion, an increase of 6.4%. Same-store sales for that period increased by 4.3%.

Costco opened its ninth warehouse in Australia on August 31, 2017, and will open its 26th warehouse in Japan later this week. The company will end its fiscal year on September 3rd with 741 warehouses in operation, including 514 in the United States and Puerto Rico, 97 in Canada, 37 in Mexico, 28 in the United Kingdom, 26 in Japan, 13 in Korea, 13 in Taiwan, nine in Australia, two in Spain, one in Iceland and one in France.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
BUSINESS INTELLIGENCE/ANALYTICS

Uniqlo creates plan to embark on digital transformation

BY Deena M. Amato-McCoy

In a move to attract more specialized information technology specialists, Uniqlo is renovating its digital DNA.

The fast-fashion giant — which doesn't have a reputation as a “cutting edge” digital company and struggles to attract the best IT talent — will undergo a digital transformation. Its first step in this strategy: to hire an army of experienced information technology specialists who can help improve operational efficiency and create innovative systems, according to Nikkei Asian Review.

Once this team is in place, the company plans to focus on big data and artificial intelligence (AI). Specifically, Uniqlo envisions how AI could help factories, distributors and stores understand — with precision — what the customer wants. This insight will also help the chain reduce excessive inventory. Meanwhile, by analyzing big data on consumer behavior, Uniqlo could make recommendations on clothes or deliver the right product at the right time to a specific customer, the report said.

The company is already taking steps to rebrand itself as a digitally-innovative company. Earlier this month, the Japanese retailer announced it would begin rolling out 6-ft.-high vending machines at airports and malls across the United States.

The devices will enable customers to purchase T-shirts and lightweight down jackets. Customers use a touchscreen to select shirt and jacket styles, colors and sizes. Purchases can be made via credit or debit card, and unwanted items can be returned in-store or via mail.

To read more, click here.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...