GNC Holdings profit up 17%
Pittsburgh – GNC Holdings reported strong results for the third quarter of fiscal 2013, reporting a net income increase of 17.3%, from $62.2 million to $73 million.
Revenue grew about 9%, from $621.6 million to $675.6 million. Same store sales increased approximately 6.7% in domestic company-owned stores (including GNC.com sales) in the third quarter of 2013, while in domestic franchise locations, same-store sales increased 5.9%.
Looking ahead, GNC expects to make some major supply chain investments in 2014, including opening a fourth distribution center serving domestic stores, located near Indianapolis, in the first half of next year.
In addition, in October of this year GNC transitioned to a third party pooled carrier product transportation network and away from its private fleet, a move expected to produce $5 million in annual pretax savings.
Target rolls out in-store pickups as part of multichannel initiative
Target is getting ready for the holidays with a big multichannel push that includes expanding its in-store pick-up program for products ordered online to all of its U.S. stores by Nov. 1 — a service that is now available in about half of the chain’s locations.
Target will run an ad campaign Dec. 1 through Dec. 3 that promotes deals during Cyber Monday and the rest of Cyber week.
Target’s overall holiday campaign, themed “My Kind Of Holiday,” will extend across all channels, including broadcast, radio, in-store, catalogs, digital and social media.
Beginning in November, Target will invite consumers to join the conversation by using the hashtag #MyKindofHoliday. The company is also bringing social media into its stores and its catalogs. Starting Nov. 18, Target will highlight about 100 holiday products across all areas of its stores that have been trending well on Pinterest. It will also make reference to Pinterest in its holiday catalogs.
In other key initiatives, the discounter is extending the timeframe of its price match policy for the holiday season beyond the typical-seven day window. If a customer purchases a qualifying item at Target between Nov. 1 and Dec. 21 and then finds it for less at Target.com, a local competitor’s printed ad or at select online retailers, Target will match the price.
Samsung Electronics Canada opening 90 in-store shops in Best Buy Canada and Future Shop
MISSISSAUGA, Ont. — Samsung Electronics Canada is opening 90 new format Samsung Experience Shops in partnership with Best Buy Canada and Future Shop.
The company plans to expand its Canadian retail footprint with the opening of two freestanding Samsung Experience Stores, one in Edmonton, Alberta, and the other Richmond, B.C. All retail locations are scheduled to open by spring 2014.
Stated James Politeski, president of Samsung Electronics Canada: "We are expanding our retail presence to ensure consumers get the most out of our innovation by learning how to leverage their mobile devices across our ecosystem of consumer electronics.”