Gymboree Corp. narrows loss in Q4; plans 105 stores in 2012
San Francisco — The Gymboree Corp. reported Wednesday that it narrowed its loss in the quarter ended Jan. 28 to $24.9 million, compared with a loss of $47.3 million a year earlier.
Sales for the quarter increased 11.9% to $355.8 million, from $318.0 million last year. Same-store sales rose 6%.
The company announced that it plans to open 105 new stores in fiscal 2012, including 80 Crazy 8 stores.
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Survey: Mother’s Day spending expected to rise 10%
New York — Survey results released Wednesday by Brand Keys revealed that 90% of consumers plan to celebrate Mother’s Day. Total spending is estimated to reach nearly $17.2 billion, according to the annual Brand Keys Mother’s Day survey.
Celebrants intend to spend an average of $163 this year, up 10% over 2011. Men, following a long-time pattern, intend to spend more than women, reporting an anticipated average spend of $190. Women anticipate spending $136.
“Last year shoppers went high-tech. But this year, they’re going with more traditional gifts, including cards, brunch or dinner, flowers, jewelry, and clothing,” noted Robert Passikoff, Brand Keys founder and president.
Other report highlights included a detailed account of what consumers plan to buy for Mom:
- Cards: 97% (unchanged)
- Flowers: 73% (+3%)
- Brunch/Lunch/Dinner: 60% (+2%)
- Gift Cards: 58% (unchanged)
- Clothing: 42% (+6%)
- Jewelry: 38% (+13)
- Spa Services: 20% (+3%)
- Books /e-books: 20% (+3%)
- Candy: 5% (unchanged)
- Electronics: 10% (-10%)
“The largest increases for gifts were in jewelry (+13%) and clothing (+6%), both areas in which consumers had cut back in recent years,” said Passikoff. “Generally, all other areas showed no changes or only small increases from last year, except, of course, electronics and that was way up last year.”
As to shopping venues, discount and department stores and online remain generally unchanged. Catalogs and specialty retail were each down 5%.
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Vantiv launches mobile check deposit after successful pilot with Town & Country Bank
Cincinnati — Payment processing service-provider Vantiv said Wednesday that it has launched its Mobile Check Deposit product that enables consumers and small business owners to use their smartphone to take a picture of a check and deposit into their account.
The service, which had been in pilot with Town & Country Bank in Salem, Mo., is now available in the United States and already more than 40 financial institutions have signed up for the service.
The product is offered to financial institutions using a pay-as-you-go model and has been designed with flexible controls for safe and secure transactions.
In anticipation of the coming wave of consumer interest, Vantiv reached out to Town & Country Bank in early 2011 to offer the service as a trial. “A year ago when Vantiv invited Town & Country Bank to join them in this innovative pilot project, we knew it was a great opportunity,” said Carl Eichenberger, COO with Town & Country Bank. “Mobile Check Deposit was offered to a preselected customer base and they have overwhelmingly embraced the technology. We are excited to make it available to all of our customers.”
Vantiv’s Mobile Check Deposit leverages the Jeanie network, which requires no core integration.
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