FINANCE

RILA and CargoNet align to prevent cargo theft

BY CSA STAFF

Arlington, Va. — The Retail Industry Leaders Association (RILA) and CargoNet jointly announced that they have strategically aligned to combat cargo theft across the retail industry.

According to the 2010 United States Cargo Theft Report issued by CargoNet, reported incidences of cargo theft increased by 50% compared with 2009. According to the FBI, cargo theft is a multi-billion dollar industry in the United States.

“Cargo theft has become a significant pain point for retailers,” said Lisa LaBruno, RILA VP loss prevention and legal affairs. “Through this joint endeavor and use of the information-sharing network that has established CargoNet as an industry leader, we hope to stem the tide of cargo theft and maximize recoveries for retailers.”

Through CargoNet’s information-sharing network, theft incident details are passed on to statewide law-enforcement systems and several non-law enforcement channels almost immediately after a theft is reported. The network ensures law enforcement can efficiently find critical information to help solve complex investigations, identify perpetrators, and recover stolen product.

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FINANCE

Macy’s Lundgren pay package down 8%

BY CSA STAFF

New York City — Macy’s CEO Terry Lundgren’s compensation package dipped 8% in 2010 to nearly $11.8 million, according to an analysis by The Associated Press.

Lundgren received a salary of $1.5 million in 2010, the same as the year before. The stock awards he received were valued at $3.6 million when they were granted, about a 50% rise over what he received the year before, according to a Securities and Exchange Commission filing.

Pulling down his 2010 compensation was a 15% decline in the value of the stock options he was granted. For last year, the options were worth $1.24 million when they were granted, compared with $1.45 million for the stock-option grant made in March 2009. His performance-based cash bonus also was lower, at $5.25 million in 2010, compared with $7 million the year before.

The retailer also cut the compensation it paid to Lundgren for perks, which fell almost 70% from 2009 to $171,840 last year. The costs for Lundgren to have a company car and driver dropped from about $261,000 in 2009 to $42,237 last year. Starting in 2011, Macy’s said it also will limit Lundgren’s personal use of company-owned aircraft to $75,000 worth per year. His aircraft use totaled $94,881 in 2010.

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OPERATIONS

Forest City and PlaceWise Media introduce Shoptopia Network

BY CSA STAFF

Cleveland — Forest City Commercial Management, in partnership with PlaceWise Media, announced Tuesday the launch of the Shoptopia Network.

Shoptopia combines online, social, mobile and digital screen-based communications into an interactive experience and relationship with consumers. This expansion of the original Shoptopia service, an online shopping community jointly created by Forest City and PlaceWise Media, is a network designed to enhance the relationship among malls, retailers, brands and shoppers with an interactive experience before, during and after shopping.

“The Shoptopia Network engages our shoppers with insights to all things fashionable, special offers and feedback from their peers,” said Jane Lisy, Forest City Enterprises VP of marketing for Commercial Management and chairwoman of the Shoptopia Network Advisory Board. “It’s a perfect integration of all the digital and physical shopping experiences. Shoppers are engaged, informed and rewarded for their participation.”

Shoptopia enables shoppers to gain insider knowledge and receive special offers, rewards and event invitations. Content is syndicated and broadcast through personal computers, mobile devices, tablets, and in-mall digital experience walls, providing consumers with real digital interactions that are natural extensions of the shopping experience.

As PlaceWise’s charter partner for the original Shoptopia community, Forest City conducted a two-year study to explore the future of retail center marketing. A key focus of the study was the need to better understand digital channels and their influence on both online and bricks-and-mortar purchasing habits. Finding that frequent online shoppers still highly value the in-mall shopping experience, Forest City recognized that the integration of social networking channels with in-mall shopping was necessary to engage shoppers and provide them with a complete experience.

At launch, Shoptopia is at 16 Forest City retail centers and will reach 12 million monthly shoppers. By the end of 2011, it is projected that the Shoptopia Network will include 150 retail centers and reach over 100 million monthly shoppers.

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