Marks and Spencer to Open Store in China
London, Marks and Spencer on Tuesday said it planned to open its first store in China after posting a 43% hike in net profits during its first half.
Profit after tax grew to 393.3 million pounds ($820 million dollars) in the six months to Sept. 29, compared with the first half of 2006, as shoppers flocked to its newly refurbished British stores that sell food and clothes.
“We have decided to enter China on a wholly owned basis, leveraging off the operational presence we already have in Hong Kong and Taiwan,” M&S said in its statement. “We expect our first store to open during the course of the next financial year.”
The retailer added that it was looking to expand its operations in India, which it described as “an equally exciting long-term opportunity.”
Office Depot debuts mobile marketing campaign
DELRAY BEACH, Fla. Office Depot today announced that it has launched a new mobile marketing effort designed specifically to reach today’s busy customers, providing them with options and control over how they receive marketing information.
These new services include the launch of an Office Depot mobile store locator, RSS feeds, text message coupons and offers, and mobile sweepstakes capabilities.
“We all live and work in a very busy and demanding environment, and providing our customers with relevant marketing materials and time-saving solutions is very important to Office Depot,” said Kristin Micalizio, vp of direct sales for Office Depot. “Office Depot provides customers with multiple channels in which they can shop for their office supply needs, and it is only natural that the same concept apply to our marketing efforts as well.”
Peiser steps down as ceo of Imperial Sugar
SUGAR LAND, Texas Imperial Sugar announced that Robert Peiser, its president and ceo since April 2002, will reduce his involvement with the company effective Jan. 29, 2008, the date of the company’s annual meeting.
Peiser will assume the position of vice chairman through January 2009 and will assist in strategic projects as well as with industry and governmental affairs. Imperial further announced that its board of directors has appointed John Sheptor, currently its evp and coo, to the positions of president and ceo also effective Jan. 29, 2008.
Peiser joined Imperial in early 2002 and was the architect of its subsequent financial restructuring, its continued balance sheet improvements, the development of an innovative approach to packaging in the consumer and foodservice market and improved operational performance as well as certain business development efforts.
“I am very proud of the accomplishments that our entire team of associates have been able to achieve since I joined the company,” said Peiser. “We transferred a financially weak organization with an attitude of having to make do in the commodity world of sugar into an extremely well capitalized company with a dedication to building on the innovations that we have developed so as to reduce the commodity nature of our business.