Proximity based promotions give shoppers supply chain visibility
An agreement between Mobiquity Networks and personal shopping concierge service ShopAdvisor is giving retailers intriguing new options to drive sales by serving offers to shoppers predisposed to purchase certain products.
Through the agreement between Mobiquity Networks and ShopAdvisor, the two million users of ShopAdvisor's app will know when they are physically close to retailers carrying their favorite products. They will be able to receive current price and offer details and be alerted if there is an offer in proximity for a product that is similar to something for which they've shown a preference, according to a statement from the companies.
"The (partnership) will provide our mobile users with greater opportunities to access promotions and offers on products they love within their local area," said Scott Cooper, founder and CEO of ShopAdvisor. "The combination of the user preference information provided by ShopAdvisor and the reach and proximity information provided by the Mobiquity Technologies network will provide brands and retailers the opportunity to better engage with potential shoppers."
ShopAdvisor is a digital personal shopping concierge for consumers that provides information on more than 200 million products offered at 16,000 retailers. Those who download the app are able to be advised when and where to shop with real time alerts provided when a price drops.
Mobiquity operates a consumer-focused proximity network that leverages beacon technology that brands use to execute personalized and contextually relevant experiences at 220 shopping malls.
"The combination of proximity and preference is powerful. We believe ShopAdvisor mobile users will benefit with relevant local offers and information," said Dean Julia, Co-CEO for Mobiquity Networks.
Report: Sycamore pursues $3 billion Chico’s deal
Fort Myers, Fla. – Chico’s FAS Inc. may be the next big-name retailer to undergo an acquisition. Private equity firm Sycamore Partners is reportedly pursuing a $3 billion acquisition of the specialty women’s apparel retailer.
According to Reuters, Sycamore already has an agreement in principle to acquire Chico’s, contingent upon obtaining financing. However, Sycamore may be having difficulty finding a bank or banks willing to allow as much debt as the company is looking for.
Pier 1 names interim CFO, cuts guidance
Fort Worth, Texas – Pier 1 Imports Inc. has named senior VP of planning Laura A. Coffey, 48, as interim CFO. The move comes as Pier 1 reduces its guidance for fiscal 2015 and Charles “Cary” Turner retires as senior executive VP and CFO.
Pier 1 has reduced its fiscal 2015 guidance for same-store sales growth (including e-commerce) to 5%. The company is also now expecting earnings per diluted share in the range of $0.80 to $0.83 (excluding retirement-related expenses, as well as higher expenses in areas including SG&A, interest and depreciation. Pier 1’s reduced outlook reflects softer than expected sales in January and February, as well as higher than forecast expenses, primarily related to incremental supply chain costs.
“I am extremely disappointed that we will not achieve our prior financial guidance,” said Alex W. Smith, president and CEO. “Following a strong holiday period, we registered respectable company comparable sales growth of 5.7% in January — but the results were well below our forecast, which had overestimated the recapture of lost sales from last year’s storms. This is also causing us to take a more cautious view of sales for February.”
Coffey, a Certified Public Accountant, joined Pier 1 Imports in 1997 and has held various positions, including VP – assistant controller, principal accounting officer, senior VP of finance, and senior VP of business development and strategic planning Coffey spearheaded the implementation of the company’s e-commerce web site and omnichannel capabilities. Prior to Pier 1 Imports, Coffey held positions with Alcon Laboratories and KPMG, LLP.