Lowe’s to enter Manhattan with smaller-store format
Mooresville, N.C. —Lowe's announced that it will enter its first two stores in Manhattan. The home improvement giant has two locations slated to open in the second half of 2015, one at 2008 Broadway at West 68th Street, and a second at 635 6th Avenue at West 19th Street.
Both stores will be approximately 30,000 sq.ft. and offer products and services that are locally relevant to customers, including appliances in a variety of sizes, home organization and storage products to maximize space, and home decor and accessories. Most items will be in stock and many will be delivered from Lowe's New York area stores.
"We are excited to expand our presence to Manhattan and we look forward to offering Lowe's project expertise and tailored product selection in two convenient locations," said Richard Maltsbarger, Lowe's chief development officer. "We know customers in Manhattan are already shopping with Lowe's online and at our New York area stores. Based on our research, we are developing these locations to meet the unique needs of these customers."
Shop.org: Retailers set earlier holiday shipping deadlines
Washington, D.C. –- Nearly eight in 10 (79%) retailers surveyed will set their standard shipping deadlines for guaranteed Christmas delivery to expire at least a week before the holiday, compared to 74% who said in the 2013 holiday season. In addition, according to Shop.org’s EHoliday survey conducted by Prosper Insights & Analytics, approximately one in five (21%) will set those deadlines to expire Dec. 19 or later, compared to more than one-quarter who said so last year (25%).
Of the 92% of retailers polled who plan to offer free standard shipping of some sort in the upcoming holiday season, nearly seven in 10 (69%) say their guarantee for Christmas delivery will expire on or before Friday, Dec. 19. Nearly three-quarters (74%) of retailers polled during 2013 had a deadline on the equivalent day (Friday, Dec. 20, 2013).
For those waiting until the last minute, one in five (21%) companies surveyed that plan to offer a free or upgraded expedited shipping promotion will give customers until Tuesday, Dec. 23 to take advantage of the offer. By contrast, 15% of retailers polled will let their customers take advantage of that offer only through Monday, Dec. 22, and another 15% will end their free expedited shipping promotions on Sunday, Dec. 21.
More than half (57%) of retailers surveyed who plan to offer express two-day shipping say their deadline for guaranteed Christmas delivery will expire on or before Sunday, Dec. 21 while the balance will end guaranteed two-day shipping on Monday, Dec. 22.
When it comes to one-day express shipping, half (50%) are comfortable offering express one-day or overnight shipping as late as Tuesday, Dec. 23 for a guaranteed Christmas delivery; three in 10 (30%) have set Monday, Dec. 22 as the deadline for their one-day express delivery deadline.
In a separate survey released in Aug. 2014, Shop.org asked retailers which site and service features they have invested most heavily in before the holiday season, and many agreed shipping and fulfillment features were of utmost importance.
According to the survey, four in 10 (41%) have invested significantly in live chat, and more than one-third (34.5%) noted they have invested in technologies that allow shoppers to check in-store availability. Other areas of investment include shipping deadline calendars (31%), “ship from store” functionalities (27%) and buy online – pick up in store services (25%).
Report: Luxottica owner says return as CEO temporary
Milan, Italy –- Leonardo Del Vecchio, 79, the chairman and founder of global eyewear manufacturer/retailer Luxottica Group who assumed the role of interim CEO on Oct. 14, has reportedly sent a letter to employees reassuring them his return as CEO is temporary. According to Reuters, in the letter, Del Vecchio said he would step down and turn management over to new co-CEOs once the company’s new governance structure is consolidated.
Current COO Massimo Vian will be named as co-CEO in Jan. 2015. At that time, Adil Mehboob-Khan, president of global salon professional for Procter & Gamble, will join Luxottica as co-CEO. Del Vecchio also said his family, which includes six children from three relationships, will not be involved in the company’s business.
On Oct. 14, Enrico Cavatorta, who accepted the role of CEO at Luxottica in Sept. 2014, resigned due to what the company termed disagreements with corporate governance structure. Board member Roger Abravanel also resigned for the same reason. Cavatorta replaced former CEO Andrea Guerra, who left after a 10-year tenure that saw Luxottica rise to global prominence.
Upon request of the board, Cavatorta will keep his role of officer responsible for preparing the company’s financial reports until the approval of third quarter results on Oct. 29, 2014. Net income is expected to rise 10%.