Men’s Wearhouse net income drops, sales rise in Q3
Fremont, Calif. – Men’s Wearhouse reported declining net income during the third quarter of fiscal 2013 even as net sales improved. Net income dropped about 22%, from $48.8 million in the third quarter of the prior fiscal year to $38.2 million.
Sales grew almost 3% to $648.9 million from $631 million. Same-store sales increased 2.6%. Men’s Wearhouse said financial performance was in line with company expectations and was hampered by a decrease in tuxedo margin due to lower rental revenue and higher per unit rental costs and royalty payments and the deleveraging of occupancy costs.
"We are very pleased to report our 2.6% same-store sales increase during the third quarter in our Men’s Wearhouse brand, which represents two-thirds of our consolidated sales.,” said Doug Ewert, president and CEO of Men’s Wearhouse. “We are also very pleased with the early progress in integrating our newly acquired American designer brand, Joseph Abboud, and its U.S. manufacturing operations. We already have several large markets with Joseph Abboud product in place and will continue to execute on our planned rollout to all stores into the summer of 2014."
Tim Hortons introduces mobile payment
Oakville, Ontario – Customers at participating Tim Horton’s stores throughout Canada and the U.S. using BlackBerry 10 smartphones will be able to register a Tim Card on the TimmyMe mobile app and use NFC tap-to-pay technology to complete their order. Future development plans will also see this platform expanded to Android 4.4 devices.
Tim Hortons has also launched a barcode payment pilot program in the Niagara region in Canada and at select U.S. Tim Hortons Cafe & Bake Shop restaurants in Maine, Michigan, New York, and Ohio. The barcode technology, which provides a scan-to-pay option once a Tim Card has been registered on the TimmyMe app, supports Apple devices running OS 6.0 or later and Android devices running OS 4.0 or later.
Tim Hortons has partnered with First Data Corporation, a global leader in payment processing and e-commerce solutions, to deliver tap and scan payments through their mobile gateway technology. First Data makes it possible for registered Tim Card users to securely make mobile payments and view their Tim Card balance and transaction history.
"We’re always looking to provide our Tim Hortons guests with the best overall customer experience, and mobile payment is one area that we feel can help streamline the average time spent at the order counter," said David Clanachan, COO, Tim Hortons. "These new innovations offer secure, quick and easy payment alternatives, allowing our guests more time enjoying their favorite food and beverages."
Australia’s General Pants installs interactive kiosks with Epicor Retail
Sydney, Australia – Australian apparel retailer General Pants is rolling out interactive kiosks fusing music, fashion and social media to create a shopping experience to guide, inform and entertain consumers via Apple iPad device displays. The launch is the result of more than six months of development to create an omni-channel platform that merges the online and offline shopping experience.
General Pants will initially install the kiosks in 10 stores across New South Wales, deploying to its additional 47 stores throughout Australia by February 2014. The kiosks leverage Epicor retail enterprise selling and warehouse management solutions, giving customers consistent access to in-stock products via seamless inventory look-ups for kiosk-to-customer shipments, as well as warehouse fulfillment from the e-commerce site. While interacting with the kiosk’s "Our Picks" features, the customer can select to purchase in-store or select to have the product shipped directly to their home via the kiosk. Epicor technology drives the omni-channel experience at the kiosks, enabling the unification of inventory and order management across all channels.
"There are plenty of buzz words going around, omni-channel, bricks and clicks, user experience, etc.,” said Craig King, CEO of General Pants. “Rather than fall into a category, we took a step back and focused on what our customers were doing. We asked ourselves what are we doing for them, how can we better communicate our stories and how do we enrich their experience? Our responses helped conceptualize the kiosks."