Report: Home buyer leaves Penney
New York — Paul Rutenis, the top buyer for J.C. Penney’s newly made-over home department, has left the company, according to a report by Citigroup.
According to Citigroup analyst Deborah Weinswig, the prices of many of the home items have reduced consumer demand.
In related news, Penney has decided not to renew its contracts with marketing consultants Sergio Zyman and Jeff Herbert, which expire this month, Weinseig noted.
Groupon upgrades Breadcrumb POS app
CHICAGO — Just two months after Groupon launched its free Breadcrumb iPad point-of-sale app, the company has announced major additions aimed to provide local businesses with a pre-built, customizable experience adapted to their specific industry.
Breadcrumb POS how offers features for a broad range of merchants, including the ability to use pre-loaded menus and inventory lists, process offline transactions, scan and redeem Groupon vouchers, track deal performance and add custom item modifiers.
As a result of the 1.2 updates, Groupon now has a point-of-sale solution for every type of local business. Retailers, for example, would go here to see specific offerings.
“Groupon has worked with several hundred thousand local businesses around the world and through these relationships they’ve told us they want a point-of-sale that is specific to their type of business,” said Mihir Shah, VP, merchant OS. “Breadcrumb POS is free, easy to use, designed for seven of the most popular types of local businesses and comes with one of the most competitive payment processing plans in the United States.”
Breadcrumb POS comes with seven preloaded menus and inventory lists for the most popular types of local businesses, enabling merchants to start running their systems within minutes; merchants can also now add, scroll and search thousands of menu items. It also keeps checkout lines moving in the event the Internet connection is disrupted, storing transactions for up to one hour and processing offline transactions once WiFi resumes. Built-in Groupon redemption enables merchants to exclude products and services not eligible for the discount and tracks overall deal performance.
Breadcrumb by Groupon is a suite of cloud-based iPad and smartphone tools that help businesses operate faster, know their customers better and maximize revenue. Breadcrumb products include flexible, affordable iPad point-of-sale products and payments solutions for all businesses, which include a low-price guarantee on credit card transaction fees, free installation assistance and 24/7 phone technical support.
Groupon provides merchants with a suite of products and services, including customizable deals, payments processing capabilities and point-of-sale solutions to help them attract more customers.
PepsiCo ‘pleased’ with Q2 performance
PURCHASE, N.Y. — PepsiCo reported net revenue of $16.8 billion for the second quarter of 2013, a 2% increase from $16.4 billion for the same quarter last year.
Structural changes, principally the refranchising of the company’s beverage operations in Vietnam and China, negatively impacted reported net revenue performance by nearly 1% and foreign exchange translation had a 1.5% unfavorable impact in the quarter. Adjusted to exclude the impact of foreign currency translation and structural changes, revenue grew 4.2%.
"We’re pleased with our performance in the second quarter and for the first half of 2013. PepsiCo delivered another quarter of mid-single-digit organic revenue growth, driven by our balanced food and beverage product portfolio and global geographic footprint,” said chairman and CEO Indra Nooyi. “We continue to invest in advertising and marketing, innovation, and other marketplace initiatives to sustain our organic revenue growth and we are driving a robust productivity agenda that serves as a funding source for these investments.”
PepsiCo Americas Foods net revenue increased 5% in the quarter driven by mid-single-digit net revenue growth at Frito-Lay North America and high-single-digit net revenue growth in Latin America Foods.
PepsiCo Americas Beverages core constant currency operating profit grew 4% in the quarter reflecting 3% points of effective net pricing and productivity gains. Reported operating profit was up 5%.
In the U.S., the company’s largest market, held value market share in salty snacks and improved both volume and value market share performance sequentially in liquid refreshment beverages.