Payless, Nature Conservancy in eco-preservation effort
Topeka, Kan. Payless ShoeSource is rolling out ecologically friendly shoes and handbags that will initially raise money to plant trees in Brazil.
The chain announced Monday that it is launching a new brand called Zoe & Zac, that use organic cotton and linen, recycled rubber outsoles and water-soluble glues. The new line features eight women’s footwear styles, two handbags, three girl’s shoes, as well as a range of jewelry and socks All of the products are priced under $30.
Payless’ parent company Collective Brands said it will donate to The Nature Conservancy $1 for every Zoe & Zac item sold through May 4 and every reusable Payless shopping bag sold throughout the year. The group plans to use the money to rebuild the Atlantic Forest in Brazil.
The company said it’s committed to raising at least $100,000.
Survey predicts 13.2% drop in foot traffic in Q2
Chicago ShopperTrak Friday reported the second quarter will be a continued challenge for retailers as both traffic and sales levels are expected to post steady declines vs. the same period last year.
According to the company’s Retail Traffic Index, total U.S. foot traffic will slip a sharp 13.0% ,while the company’s National Retail Sales Estimate is forecasting a 2.4% retail sales drop for the three-month period.
“Looking ahead, Q3 should get a slight boost from the annually solid back-to-school shopping season and as always Q4 will benefit from the holidays — but our data seems to support the thinking of most economists which is real recovery most likely won’t begin until early 2010,” said Bill Martin, co-founder of ShopperTrak.
Jones Apparel CEO salary up 68% to $5.4M
New York City Wesley R. Card, president and chief executive of Jones Apparel Group, received compensation valued at $5.4 million in fiscal 2008, up almost 68% from a year earlier, according to a regulatory filing on Friday.
The company paid Card a base salary of about $1.6 million, up 20% from the previous year. Card voluntarily elected not to accept an $810,000 cash-incentive award, which was based on corporate performance, because of current business conditions and the impact it would have on the company’s associates.
Card also received restricted stock awards valued at roughly $3.6 million on the day they were granted.
Additionally, Jones paid Card $208,566 in all other compensation, which included an apartment in New York and a car allowance and services.
In February, Jones Apparel Group said it posted a bigger fourth-quarter loss because of hefty charges, higher promotions and a weak holiday season. At that time, the company said it would eliminate 185 positions, or 4% of its wholesale and corporate full-time work force.