REAL ESTATE

L.K. Bennett opens in New Jersey

BY Staff Writer

New York City — British fashion retailer L.K.Bennett, opened its third U.S. boutique, at The Shops at Riverside in Hackensack, N. J.

“We have over 100 stores in the UK. now — and in the long term weʼd like to have the same number of stores in the U.S.,” said Robert Bensoussan, CEO London.

The storeʼs design creates an elegant and welcoming environment that reflects the sophisticated persona of L.K. Bennettʼs collections. Set against a soft powder pink backdrop and delicate beige woodwork, bespoke display units with mirror finish, rich woolen carpets and fifties-inspired Swedish furnishings create a relaxed, modern romantic atmosphere.

The brand also has stores in Chicago and Atlanta, along with in-store shops in Bloomingdale’s.

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OPERATIONS

Study: Retailers not engaging mobile shoppers

BY Staff Writer

New York City — While 43% of smartphone owners have installed and used a retailer’s app, only 14% of those who installed them say the app led to a purchase decision, according to the most recent Retrevo Pulse Study, an ongoing study of tech industry trends conducted for the consumer electronics shopping and review site.

"Retrevo’s findings indicate that customers are willing to download and use retailer’s mobile apps," said Manish Rathi, co-founder and VP marketing Retrevo.com. "But when only 14% of the installed base actually indicates it ‘helped them buy something,’ it’s time for retailers to rethink their mobile engagement strategy. In today’s market where many brick-and-mortar retailers are trying to stay competitive, retailers can’t afford to merely serve as a showroom for Amazon."

The study found nearly two-thirds (66%) of respondents have looked at a product in a store and then made the purchase online from somewhere else. The number of "defectors" jumps to more than three quarters (78%) for smartphone owners who may have an easier time doing research wherever they happen to be.

Electronics was the category mentioned most, with 58% of shoppers checking out the (58%) this type product in the store and then buying it somewhere else online. The next category on this list is shoes (41%) followed by apparel (39%). According to Retrevo, retailers need to aggressively find a way to persuade smartphone owners to make their purchases in the store or at least buy from them online.

More than half the smartphone respondents in this study indicated they have used a mobile device in a store to help them buy something. Most of those used their phones to check prices and get coupons but many also looked up ratings and reviews on products they were considering buying before making the big decision.

According to Retrevo, smartphones don’t have to be the enemy of retailers.

"Our message to retailers," Rathi said, "is: Get your app together! A carefully crafted app can help provide consumers the information they need to make them want to buy something."

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News

Barnes & Noble searches for new CFO

BY CSA STAFF

NEW YORK — Barnes & Noble has announced that Joseph Lombardi, CFO, has resigned from his current position, but will remain a non-officer employee until mid-2012 to assist in the transition as the company undertakes an executive search for a new CFO. The company also announced the appointment of Allen Lindstrom, VP corporate controller, to interim CFO until a replacement is named.

“Today the company is strategically and financially well positioned, due in large part to our leadership team and Joe Lombardi’s contributions during his tenure as CFO,” said William Lynch, CEO “He has played a key role especially during these last two years, as we’ve been successfully transforming our business, and scaling the massive opportunity Nook presents.” Lynch added, “We’ve built great bench strength and continuity in our finance department over the years, and everyone from the management team to the board of directors has the utmost confidence in Allen as he assumes the interim CFO position. We thank Joe for his service to the company and appreciate his assistance in the transition.”

Lindstrom joined Barnes & Noble, Inc. in November 2007, asVP and corporate controller. He is also principal accounting officer of the company. Prior to joining Barnes & Noble, Lindstrom was CFO at Liberty Travel.

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