Lids Sports Group acquires Cardboard Heroes
Indianapolis — Lids Sports Group is acquiring Cardboard Heroes, a licensed sports apparel, headwear and novelty retailer headquartered in Dayton, Ohio. The acquisition consists of 19 Cardboard Heroes stores in Ohio and Kentucky, which include four Buckeye Room locations that specialize in Ohio State University sports merchandise, as well as the e-commerce websites cheroes.com and buckeyeroom.com.
“The recent acquisition of Cardboard Heroes allows us to further enhance our retail presence in Ohio and Kentucky, as well as expand our reach online through its various e-commerce platforms,” said Ken Kocher, president of Lids Sports Group. “These new locations tie in well with our sports retail focus and allow us to provide additional licensed sports merchandise that complements our existing Buckeye Corner and Fan Outfitter locations in the region.”
Lids currently operates 936 headwear specialty retail stores, 151 sports fan retail stores and 57 team-specific professional sports and university athletics retail stores across North America.
Report: Coach to discount handbags
New York — Coach Inc. will reportedly start offering 25% discounts on its luxury handbags at its stores in twice-a-year sales during June and December. According to Bloomberg, Coach will reduce prices on end-of-season and discount merchandise from 30-50%.
Coach has never before discounted items in its own full-price stores, although it does operate outlet stores and has conducted sales with third-party retail partners. The first discount period starts with an invite-only presale June 6-12, followed by a general sale. Coach is launching the discount strategy after reporting declining net income, net sales and same-store sales during its third quarter fiscal 2014.
Loblaw expands use of Precima
Toronto, Canada — Loblaw Companies Ltd. and LoyaltyOne’s Precima merchandising/marketing solutions provider are renewing and expanding their long-term engagement. Precima has been working with Loblaw for a number of years with a focus on developing and executing customer-centric merchandising and marketing strategies.
The collaboration is designed to help Loblaw better understand its customers and incorporate these insights into key business decisions with the goal of enriching the shopping experience. Further, through the Loblaw TopShelf Portal, powered by Precima, custom reports have been made available to vendors to drive immediate and actionable insights.
"At Loblaw, we believe in the need to speak to the individual,” said Uwe Stueckmann, senior VP, marketing, Loblaw. “Our work with Precima allows us to do so and to provide innovative programs that are relevant and personalized to our customers. We’re looking forward to continuing our engagement with Precima and leading the path in customer-centricity."