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Icahn reveals 10% stake in Netflix

BY Katherine Boccaccio

San Francisco — A filing disclosure on Wednesday revealed that billionaire investor Carl Icahn has built a 10% stake in Netflix, suggesting that dramatic changes in the company could loom.

The filing did not elaborate on the reasons behind Icahn’s purchase of 5.5 million Netflix shares, and Netflix has so far declined comment.

Icahn has earned a reputation for using his ownership to pressure management toward dramatic change or strategic alternatives such as a sale of the company.

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Von Maur uses Oracle to optimize operations and enhance service

BY Katherine Boccaccio

Redwood Shores, Calif. — Regional department store retailer Von Maur has implemented the Oracle Retail Merchandising System suite of applications to support same-store revenue growth, as well as its scheduled expansion into new markets, such as Atlanta, Milwaukee, Victor, N.Y., and Hoover, Ala.

With the Oracle Retail system supporting its e-commerce site and 26 stores in 11 states, Von Maur is able to respond more quickly to customer demand, maintain appropriate inventory levels, and increase sales by having the right products in the right location.

“It’s about providing our customers with the best service possible, while simultaneously offering a unique mix of products,” said Joy Place, VP merchandising, Von Maur. “Oracle Retail solutions have helped to optimize our operations. Achieving the balance between inventory levels and customer satisfaction has been key to our success, and we expect to maintain that balance in the future as we continue to grow.”

The solutions will allow Von Maur to increase its focus on current consumer demand and provide merchandise as quickly as possible. The retailer is using Oracle Retail Demand Forecasting to better understand trend information by store and SKU, anticipate out-of-stocks, and identify underperforming merchandise. The company has leveraged Oracle Retail Merchandise Financial Planning to establish more consistent and accurate planning processes, enabling the company to improve in-season budgeting and gain a more consistent view and overall analysis of budgets. The Oracle system allows changes to be made in the budget system that are automatically updated so buyers have access to data immediately.

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K.Brown says:
Jan-17-2013 12:21 pm

The Oracle R12 E-Business Suite Payables certification endorses the high-level of IT practitioner expertise in the successful design and implementation of Oracle R12 E-Business Suite Payables and managing the accounts payable processes . New Certification exams, 1z0-881, 1z0-884, 1z0-895, 1z0-897

K.Brown says:
Jan-17-2013 12:21 pm

The Oracle R12 E-Business Suite Payables certification endorses the high-level of IT practitioner expertise in the successful design and implementation of Oracle R12 E-Business Suite Payables and managing the accounts payable processes . New Certification exams, 1z0-881, 1z0-884, 1z0-895, 1z0-897

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HSN profit falls 27% in Q3

BY Katherine Boccaccio

St. Petersburg, Fla. — Multichannel retailer HSN Inc. reported Wednesday that net income for the third quarter dropped 27.2% to $17.7 million, from $24.3 million in the year-ago period. Results still beat Wall Street projections.

Revenue rose 7.1% to $778.8 million, beating analysts’ estimated $747.1 million in revenue.

The company has now seen profit fall in two consecutive quarters, but it has beaten Wall Street estimates for three quarters in a row.

“Our strong financial performance during the quarter demonstrates the sustained effectiveness of our overall strategy of creating immersive experiences, offering differentiated products and leveraging technology to build relationships, not just transactions,” said Mindy Grossman, CEO, HSN.

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