Orvis selects MID Retail for merchandise allocation
Indianapolis — MID Retail Inc. said Tuesday that Orvis Co. has selected its Advanced Allocation software to manage the flow of merchandise to Orvis retail stores.
“MID Retail’s Advanced Allocation software will help keep us ‘in-stock’ on the items our customers want,” said Julie Cheney, director of planning and allocation for Orvis. “The MID solution enables us to accurately control our inventory position while improving customer satisfaction.”
The solution will facilitate a reduction in excess merchandise stocked at stores, resulting in fewer markdowns, reduced inventory carrying costs and improved profitability. Fully automated workflows enable retailers to maintain ideal store inventory levels with minimal manual intervention from their planning and allocation teams.
Cache loss widens in Q3
New York — Cache reported Tuesday a loss of $6.4 million for the quarter ended Sept. 29, widened from a loss of $1.8 million in the year-ago period.
Sales dropped 5.9% to $45.8 million, and same-store sales declined 2.9%.
The retailer is currently on a hunt for a new president.
Target celebrates new faces of Canadian fashion
TORONTO — Ahead of its 2013 debut, Target is building its presence in Canada with a new partnership with the Toronto Fashion Incubator for the annual TFI New Labels Fashion Design competition celebrating and supporting up and coming Canadian designers.
The winner will receive $25,000 and the chance to create an exclusive collection to be sold in Target stores across Canada in 2014.
"Target has a longstanding commitment to great design and supporting the communities in which we do business," said John Morioka, SVP merchandising, Target. "We are proud to partner with an organization that has paved the way for so many up and coming designers and are excited to showcase great design and make it accessible to our guests across the country."
The TFI New Labels competition recognizes designers who have been in business for three years or less. These up-and-coming designers will be tasked with creating a line appropriate for the Taret shopper. Elisha Ballantyne, divisional merchandise manager, Apparel and Accessories, Target will meet with the competitors in advance to provide guidance on critical business elements to consider when creating their collections. After a series of four challenges, the winner will be announced at the TFI New Labels Gala in April 2013.