FINANCE

iCongo reports increase in online holiday sales

BY CSA STAFF

Montreal, Canada E-commerce provider iCongo said Friday that its retail clients indicated average sales gains over last year of 83% for Black Friday and 74% for Cyber Monday.

The average sales increase, year to year, for the Saturday and Sunday between Black Friday and Cyber Monday was 47%, according to iCongo.

“Although sales increases were impressive across the board, iCongo clients with multichannel and cross-channel capabilities outperformed their peers,” said Irwin Kramer, CEO of iCongo.

Increased sales came from multiple channels, including strong in-store and online performance, according to iCongo. Increased access to and availability of inventories to satisfy both Web and in-store sales came from cross-channel systems.

 

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Target opens holiday To-Go shops

BY CSA STAFF

MINNEAPOLIS Target announced that it is hosting three limited-time-only Target To-Go shopping events in New York City, San Francisco and Washington, D.C.

The To-Go shops will feature 50 items, including toys, gadgets, home decor, beauty and fashion. Customers order the items by number, which come wrapped and ready for gift giving.

 

“This holiday, we wanted to give our urban markets a little slice of Target,” said Shawn Gensch, VP marketing, Target. “We’re always trying to reach our guests in new and interesting ways, and Target To-Go gives time-starved city dwellers a joyful, convenient and affordable holiday shopping experience.”

Target To-Go will be open to the public from Dec. 11 to Dec. 13, from 10 a.m. to 8 p.m. daily.

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Collective Brands 3Q comps up, earnings down

BY CSA STAFF

TOPEKA, Kan. Collective Brands reported that third-quarter 2009 net earnings were $36.9 million, or 57 cents per diluted share, compared with $47.5 million, or 74 cents per diluted share, in the third quarter of 2008.

Collective Brands’ third-quarter 2009 net sales were $867 million, up 0.5% versus last year and up 2.9% versus last year on an adjusted basis. The company’s third-quarter 2009 comparable-store sales increased 3.1%.

 

“Our strong third quarter operating results demonstrate the success of our strategy in the midst of a difficult economy,” said Matthew Rubel, chairman, CEO and president of Collective Brands. “Sales increased, operating margins improved, and we generated substantially greater free cash flow. At Payless, we had strong children’s results that produced a successful back-to-school season, and we had a strong boot performance as well. Saucony and Sperry Top-Sider also showed continued strength. Across Collective Brands, we delivered on our customer promise with innovative and fresh product, outstanding customer service, effective marketing, and efficient merchandise flow, all of which led to strong results.”

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