Junction Solutions to co-host three events with Microsoft Dynamics
Denver — Junction Solutions said Thursday it will co-host three events on Sept. 8 to announce global launch of Microsoft Dynamics AX 2012.
Together with Microsoft CEO Steve Ballmer, Microsoft Business Solutions President Kirill Tatarinov and Nigel Montgomery, research director for Gartner Research, Junction Solutions will host half-day events in Cincinnati, St. Louis, and in Mountain View, Calif.
Advance registration is required. Dynamics AX 2012 is an enterprise resource planning solution offering more than 1,000 new enhancements.
Tiffany Q2 profit jumps 33%, to open 17 stores
New York City — Supporting continued strength in the luxury sector, Tiffany & Co. reported Friday that profit for the quarter ended July 31 soared 33% to $90 million, from $67.7 million a year earlier. Results surpassed Wall Street estimates, and the jewelry retailer raised its full-year profit outlook.
Revenue surged 30% in the quarter, to $872.7 million, beating analysts’ expected $785.6 million. Same-store sales jumped 22%.
"We are extremely pleased by these results which confirm the growing global appeal of Tiffany’s product offerings," chairman and CEO Michael Kowalski said in a statement.
Global strength was apparent in the retailer’s quarterly results. In the Americas, revenue rose 25% to $438.2 million, but that performance was bested even by the Asia-Pacific where sales jumped 55%, and in Europe, where sales gained 32%.
The retailer said it plans to open 17 company-operated stores between now and fiscal year-end Jan. 31, 2012, which includes six in the Americas, three in Europe and eight in the Asia-Pacific. One store in Japan is slated for closure.
China: Do Your Homework First
From Gap and Coach to Best Buy and Starbucks, retailers across the board are looking to high-growth emerging markets to expand their business and increase revenues. Not surprisingly, China is a prime — if not the No. 1 — target of many retailers.
A recent study by global management consulting company A.T. Kearney ranked China as the most attractive emerging market for apparel retailers. The country’s first place ranking was driven by the country’s large population, the growing disposable income of the middle class and Chinese consumers’ developing fashion sense.
But while China holds great opportunity, it also offers U.S. retailers considerable challenges, including risk of counterfeiting and significant differences in the country’s infrastructure, culture and consumer preferences, according Liana Hill, a market analyst for Gap Intelligence, San Diego. She advises that a little research and maybe even some rebranding can go a long way for retailers seeking success in China.
Hill’s insights on the challenges of doing business in China make for a good read. She is featured in our Guest Commentary section.
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