OPERATIONS

Gymboree hires second Gap executive

BY Katherine Boccaccio

San Francisco — Gymboree Corp. has hired a second senior-level Gap Inc. executive, naming Gap North America finance VP Evan Price as its new CFO.

Price, who also served as VP of Old Navy, will take over Gymboree’s top finance slot on Jan. 21, joining new CEO Mark Breitbard, former Gap North American division president.

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Apr-02-2013 09:43 pm

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P.Lopez says:
Apr-02-2013 09:43 pm

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NicoleScott says:
Mar-08-2013 06:19 am

Throughout the years, the
Throughout the years, the company have shown a great success. With this new management, we hope to see more achievements. - AflacAssist.com

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News

Brand e-commerce company names new president

BY CSA STAFF

CHICAGO — Jay Dettling was named president of Acquity Group, a global e-commerce an digital marketing company.

Dettling will lead North American Services and in addition to identifying strategic expansion targets, he will be charged with evolving Acquity Group’s current service offerings in strategic, creative and technical practice areas to keep pace with technological advances and changing market conditions.

Dettling has held key leadership roles at Acquity Group for more than 11 years, specifically overseeing business development and omni-channel service lines. The company will look to Dettling to expand to new markets and add to the company’s portfolio of major retailers, consumer brands and B2B companies, including General Motors, Blue Cross and Blue Shield of Michigan, Walmart.com and W.W. Grainger. Prior, Dettling served as EVP, North American services, and will continue to report directly to Acquity Group CEO Chris Dalton.

"Acquity Group’s continued growth requires an enhanced leadership team structure that enables us to better manage our increased market presence and evolving service lines," said Dalton. "Jay is an exceptional leader with a deep understanding of Acquity Group’s service offerings. He will provide increased organizational and business benefits as part of this revamped team structure."

Global e-commerce sales continue to rise exponentially. Acquity Group creates omni-channel offerings that resonate with consumers and drive sales. The company develops digital initiatives on par with popular consumer brands for B2B companies.

In 2012, Acquity Group launched in three new North American markets, including Atlanta, Toronto and Ottawa, Ontario, as well as expanded existing locations in New York City, San Francisco, Seattle and its Chicago headquarters.

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FINANCE

Report: December saw slowest spending growth in three years

BY Katherine Boccaccio

Atlanta — Consumer spending reached a three-year low during the month of December, according to a report released Thursday by First Data Corp.

First Data’s SpendTrend tracks same-store consumer spending by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks at U.S. merchant locations.

Consumers stepped back from spending in December as the fiscal cliff debate continued, lingering effects of Superstorm Sandy persisted, and the initially less aggressive retail discounting environment for most of the month dampened shopping. Dollar volume growth was 4%, the lowest monthly growth in three years and a steep slowdown from the typical range between 6% and 10%.

Retail dollar volume and transaction growth slowed significantly from November as shoppers reigned in discretionary spending in the face of financial uncertainty. Retail dollar volume growth and transaction growth both hit 12-month lows at 2.9% and 1.4%. Most retail segments saw slower dollar volume growth compared with November.

Average ticket growth slipped to -0.5% as consumers spent cautiously. Retailers were more frugal with discounting strategies earlier in the month, which negatively impacted spending. As this appeared to negatively impact sales, many retailers then reversed course and rolled out more discounts later in the month to entice consumers and put a dent in the sluggish shopping season.

“Consumer spending took a big step back as concerns related to the fiscal cliff and the initially frugal discounting strategies by retailers’ dampened holiday spending,” said Rikard Bandebo, VP and economist, First Data. “Looking forward, consumer spending growth may slow as new fiscal policy is enacted in January and consumers take a small hit from the end of the payroll tax holiday. Fortunately, many consumer fundamentals are holding up well: job growth is steady, gas prices are falling, the housing market continues to turn the corner, and equity prices have also held up.”

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