HBC sites provide online personalization with True Fit
Toronto — Hudson’s Bay and Lord & Taylor are offering True Fit’s fit personalization technology to consumers at TheBay.com and LordandTaylor.com. In less than 60 seconds, consumers can create a True Fit profile at either site, enabling them to get a personal fit rating and size recommendation for every style.
Furthermore, the True Fit profile travels with the consumer, providing a seamless fit personalization experience across both sites. To create a True Fit profile, consumers input one great fitting style they currently wear, and answer a couple questions about their body type, and then True Fit instantly returns a personal fit rating and size for every style. It’s free for consumers, and there’s no measuring. True Fit delivers recommendations by using machine learning algorithms to analyze massive amounts of data.
“We are thrilled to be the first Canadian retailer to provide True Fit technology for our customers,” said Christina Callas, senior VP, e-commerce & digital marketing, of Hudson’s Bay and Lord & Taylor parent company HBC. “This partnership will elevate our e-commerce platform for our customers by giving them more confidence in their purchases at Thebay.com and Lordandtaylor.com.”
Roundy’s makes public offering of 8.8 million shares
Milwaukee — Roundy’s, Inc. has set the pricing of an underwritten public offering of about 8.8 million shares of its common stock at a price to the public of $7 per share. The company is offering 2.9 million shares of its common stock, and certain selling stockholders are offering 5.9 million shares of Roundy’s common stock.
The underwriters have been granted a 30-day option to purchase up to an additional 1.3 million shares of common stock from the selling stockholders, all at the offering price less the underwriting discount. The offering is expected to close on Feb. 12, 2014.
Roundy’s intends to use the net proceeds for general corporate purposes, which it expects to include funding working capital and operating expenses, as well as capital expenditures to build out the Chicago stores acquired from Safeway. The company will not receive any of the proceeds from the sale of shares by the selling stockholders, including the shares to be sold by the selling stockholders if the underwriters exercise their over-allotment option.
Credit Suisse and J.P. Morgan, along with BofA Merrill Lynch and BMO Capital Markets, are acting as joint bookrunning managers for the offering. Baird is acting as lead manager.
Duke not done yet, sustainability and WSJ beckon
Former Wal-Mart Stores, Inc., president and CEO Mike Duke is among an impressive roster of top business executives slated to participate in a Wall Street Journal executive conference called ECO:nomics — Creating Environmental Capital.
The event, scheduled for April 2-4 at the Bacara Resort in Santa Barbara, Calif., is billed as a day of no holds barred interviews in an interactive format that offers unparalleled networking.
In addition to Duke, other notable participants included energy company executives such as Nicholas Akins, president and CEO of American Electric Power, Theodore Craver Jr., chairman, president and CEO of Edison International and Helge Lund, president and CEO of Statoil ASA. Participants from top CPG companies include Irene Rosenfeld, chairman and CEO of Mondelez International and Donnie Smith, president and CEO of Tyson Foods.
“Nothing is as it was,” according to promotion materials for the event. “New countries are taking the lead, new technologies are ascending and old players are getting hit hard. Which raises the question: what’s next at the intersection of business and the environment?”
Duke’s perspective on that topic is of keen interest to those in the CPG world since he was a forceful proponent of broadening and accelerating an ambitious sustainability agenda that had been laid out by his predecessor, former Walmart CEO Lee Scott, in 2005. Duke stepped down from his role as Walmart’s CEO on January 31 and now serves as chairman of the executive committee and remains a member of the board of directors.
In that capacity, Duke and others are expected to offer, “straight talk from global CEOs, industry experts, policymakers and leading thinkers about the tough questions — questions that dig into the ups and downs of a massive economic fields that’s too often shrouded in hype,” according to promotional materials.