Ikea to Advertise on the Go
Seattle, Ikea is putting its newest advertising effort on wheels. The retailer has hired GoMobile Advertising, a Seattle-based company which operates eye-catching trucks with floor-to-ceiling windows measuring 6-ft.-by-10-ft., to support its push to sell trendy bedroom furniture to teens, according to The Seattle Times. The tricks are outfitted with an eight-speaker sound system, FM radio broadcasting and scrolling billboards.
Over the next six weeks, the trucks will visit Friday-night football games, fast-food restaurants near high schools, and just about anywhere else that Seattle-area teens hang out, the report said. Passers-by will see Ikea’s version of a typical teenage bedroom inside, complete with bunk bed, couch and desk.
As part of its push, IKEA will open a lounge for teens with sale items, as well as computers for their personal use.
Walgreen’s 4Q Drops
CHICAGO One of the nation’s biggest drug store chain operators announced that its fourth-quarter profit dropped nearly 4%, according to Monday’s reports.
Walgreens explained that because of lower reimbursements for popular generic drugs and increased store and staff costs, their net income tumbled.
According to the company’s earnings report, total expenses increased by more than 11% to $12.8 billion, which chairman Jeffrey Rein said was out of line with reimbursements the company received. Prescription sales accounted for nearly two-thirds of the company’s business.
“Managing both expenses and lower reimbursements on some generic drugs is my top priority,” he said in a company release. “We’re going to fix this, and at the same time continue our aggressive growth plan.”
While company’s revenues rose more than 10% to $13.4 billion from $12.2 billion, its net income slipped to $396.5 million, compared to $412.3 million earnings at the same time last year.
For the year, the company said that its earnings increased by to $2.04 billion ($2.03 per share), compared with $1.75 billion ($1.72 per share).
Jonathan Adler creates giftware line for B&N
NEW YORK Barnes & Noble is teaming up with ceramist Jonathan Adler for a new collection this fall.
According to reports, the line will launch in 400 stores on Oct. 20, and will include items such as an umbrella, mug and a vase made exclusively for Barnes & Noble. The collection will range in price from $5.95 and $29.95.