FINANCE

Genesco net earnings slip in Q1

BY Dan Berthiaume

Nashville, Tenn. – Genesco Inc. reported net earnings of $13.97 million in the first quarter of fiscal 2015, down 3% from $14.41 million in the same quarter of the prior fiscal year. A jump in selling and administrative expenses drove the net earnings decline.

Meanwhile, net sales rose 6% to $629 million, from $591 million. Same-store sales grew 1%. Genesco expects a low-single-digit same-store sales increase for the full fiscal year.

“We are pleased with our performance given the choppy retail environment, combined with the lack of a meaningful, new fashion driver in the teen footwear space early in the year,” said Robert J. Dennis, chairman, president and CEO of Genesco. “We continue to expect stronger comparable sales gains and improved profitability as we move into the back half of the year.”

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MARKETING/SOCIAL MEDIA

Wendy’s completes social film promotion

BY Dan Berthiaume

Dublin, Ohio – The final installment of Wendy’s first-ever digital short film, "L’Estrella de la Toscana" – The Star of Tuscany, featuring the new Tuscan Chicken on Ciabatta sandwich, premiered this week on Wendy’s Facebook Page and YouTube channel. To promote the sandwich, Wendy’s created a three-part video series that gives homage to dramatic Italian cinema of the 1960s.

Throughout April and May, Wendy’s asked consumers to be its screenwriters by submitting captions on social media to subtitle the Italian-dialogue video.

"This short film put the creative writing in the consumers’ hands to invite them to be part of the story, and they delivered," said Liz Geraghty, Wendy’s VP, brand marketing. "We sorted through 34,000 submissions to create a hilarious three-part short film that pays tribute to the Italian-inspired ingredients of our new Tuscan Chicken on Ciabatta sandwich."

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STORE SPACES

GE Lighting, ByteLight collaborate on smart LED fixtures

BY Dan Berthiaume

Fairfield, Conn. – GE Lighting and ByteLight are introducing LED lighting fixtures that communicate with shoppers’ smart devices while in-store, enabling retailers to provide location-based services using GE LED infrastructure. ByteLight’s indoor location technology embedded inside GE LED fixtures will provide the ability to understand the precise location of shoppers using an opt-in application powered by ByteLight on their smartphones and tablets.

The solution combines Visible Light Communication (VLC), Bluetooth Low Energy (BLE) and inertial device sensors, and supports any Android or iOS application on a smart device equipped with a camera and/or Bluetooth Smart technology. The comprehensive approach enables retailers to reach shoppers from the parking lot to anywhere in the store there is LED light.

GE and ByteLight are connecting smart LEDs to digital marketing platforms to deliver contextually relevant content and create social shopping experiences, such as providing personalized shopping lists and maps, location-based targeted offers, and on-demand connection with virtual store associates.

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