Report: Sales See Slight Uptick at End of December
New York Retail sales increased by a tepid 2.3% for the last week in December compared to the same period a year ago, according to figures from the International Council of Shopping Centers (ICSC) released Wednesday.
Meanwhile, sales slipped by .2% from the previous week.
“After two back-to-back strong weekly gains, it was not unexpected that the latest week’s pace dipped,” said Michael P. Niemira, ICSC chief economist in a statement. “The good news is that gift cards once again made up a significant portion of holiday gift expenditures this year and that will propel sales into January.”
For the two-month holiday shopping season (November-December), ICSC expects same-store sales performance to increase by about 2.5% or lower.
Most Competitive Retailers
Under Armour, Victoria’s Secret and Bed Bath & Beyond came out on top in an annual survey of the nation’s most competitive retailers. Conducted by Capgemini U.S. LLC and W Ratings Corp., the “Most Competitive Retailers Study” measures the ability of companies to simultaneously meet consumer expectations and deliver superior profits. It reviews a company’s performance across nine different sources of competitive advantage. The ratings are combined with the firm’s trailing five-year average economic profit to calculate the competitive ranking. More than 6,000 consumers were interviewed as part of the study.
“The retail environment remains a difficult industry to make money on a consistent basis,” said Gary A. Williams, founder and CEO, W Ratings Corp. “Yet certain companies are finding ways to do just that by incorporating strategies from outside their core industry. For example, Starbucks has been extending their routine reliance—one of the nine sources of competitive advantage—from coffee and food, to wireless access and music. This strategy not only reinforces their brand with consumers as the ‘third place’ besides work and home, but also builds on the successful network effect of Apple’s iTunes.”
The top 20 most competitive retailers, according to the study, were:
Victoria’s Secret (tie)
Bed Bath & Beyond (tie)
The UPS Store
The Home Depot
Starbucks Coffee Co.
Batra to head Victoria’s Secret Beauty
COLUMBUS, Ohio Shashi Batra, president of N.V. Perricone, will join Limited Brands as president of Victoria’s Secret Beauty on Jan. 22, Limited Brands announced Wednesday.
As president of N.V. Perricone, Batra was responsible for the company’s U.S. and global operations and led its dramatic growth across all channels during his tenure there. Before his role leading Perricone, Batra was one of the original founding members of Sephora USA. His previous leadership and merchandising work in beauty included growing the cosmetics businesses at major brands including Estee Lauder, Saks Fifth Avenue, Macy’s and Christian Dior.
“Victoria’s Secret Beauty has shown incredible promise both domestically and abroad. We are elated to have Shashi lead our team with his vast experience as a merchant in the beauty industry which is complemented by his international business acumen,” said Leslie Wexner, chairman of the board and ceo of Limited Brands.