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Saks Fifth Avenue pilots Cornell-Mayo’s mobile POS

BY Katherine Boccaccio

Parsippany, N.J. — Cornell-Mayo Associates said Monday that Saks Fifth Avenue is piloting its Omniexpress mobile POS application for the iPod at two Saks Fifth Avenue OFF 5th stores.

The pilot is underway at stores in Woodbury Commons, N.Y. and Bergen, N.J., with four iPods in each store. Saks plans to pilot the Omniexpress mobile POS application for the iPod in its Saks Fifth Avenue stores later this month as well as begin the rollout to additional Off 5th and Saks Fifth Avenue stores in spring 2012.

The mobile POS solution includes remote wireless printing using two Epson printers, the TM-P60 (Mobilink) and the TM-T88V. Epson’s Mobilink printer offers a 20-hour battery life and is used for mobility, while the TM-88V will be used for more stationary applications throughout the store.

The solution allows associates to do price inquiries on the sales floor, rather than leaving their assigned areas to go to a register. It also allows them to travel the stores, looking for customers who can be remotely checked out. The associates carry everything needed to complete the transaction right on the spot, including the Epson TM-P60 mobile printers.

As well, the mobile POS solutions can be used for line busting during peak shopping times.

"Saks associates at the pilot stores have quickly adapted to the interface, since it is very similar to our conventional register-based POS application used in all Saks stores," said Windell Manuel, senior VP and chief technology officer, Saks Fifth Avenue. "It uses the same code and business logic as the registers. In addition, our customers are impressed that Saks is using the latest technology, and they find that the experience is very personal."

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Survey: Sustained CEO turnover in retail companies

BY Marianne Wilson

New York City — Retail companies are experiencing a period of sustained turnover at the top, according to the a new report by Russell Reynolds Associates, which examined turnover and recruitment trends between January 2006 and April 2011 at 81 retail chains headquartered in the United States with annual revenues of $1 billion or more.

The study,” A Perfect Storm: CEO Challenges in Retail,” found that 59% of the retail companies studied experienced a change in CEO leadership during this five-year period.
In other findings:

  • Retail companies have a harder time than other companies in selecting CEOs that “stick.” Forty-two percent of the CEOs who left did so having served five years or less, compared with 32% of Fortune 1000 CEOs. More important, more than a quarter (27%) left after serving three years or less. In contrast, only 16% of Fortune 1000 CEOs who stepped down during the same time period did so having served three years or less.
  • While most boards traditionally prefer to fill CEO slots with current CEOs, there simply are not enough sitting CEOs to meet demand. Of the 18 external CEO appointments made during the period studied, only eight were sitting CEOs making a lateral move.
  • Retail companies seeking a new CEO are further constrained because of the tendency to recruit from the circle of immediate competitors rather than casting a wider net. Of the 18 retail CEOs in the report’s five-year sample who were recruited externally, 16 — or 89% — were recruited from the same subsector of the retail industry.

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E.Duer says:
Mar-28-2012 02:22 am

The problem with this story is that it’s not true. The facts, revealed this year by Booz & Company’s annual study of CEO turnover at the world’s largest companies, suggest the opposite. To be sure, corporate boards have indeed become somewhat more likely to dismiss their chief executives since 2000 than in the previous decade. But there is no evidence that those boards are moving hastily to fire CEOs because of poor short-term results, according to our analysis of 10 years’ worth of data. In fact, we find that even the worst-performing CEOs face a low probability of being forced from office in the short term. Rather, the uptick in dismissals is due largely to an increase in board struggles.

E.Duer says:
Mar-28-2012 02:22 am

The problem with this story is that it’s not true. The facts, revealed this year by Booz & Company’s annual study of CEO turnover at the world’s largest companies, suggest the opposite. To be sure, corporate boards have indeed become somewhat more likely to dismiss their chief executives since 2000 than in the previous decade. But there is no evidence that those boards are moving hastily to fire CEOs because of poor short-term results, according to our analysis of 10 years’ worth of data. In fact, we find that even the worst-performing CEOs face a low probability of being forced from office in the short term. Rather, the uptick in dismissals is due largely to an increase in board struggles.

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NRF Annual Convention kicks off Sunday

BY Staff Writer

New York City — The National Retail Federation’s 101st Annual Convention and EXPO kicks off Jan. 15 at the Jacob Javits Convention Center in New York City. The four-day event will feature topics ranging from digital and mobile retailing to the evolution of the retail store to economic trends and trends in consumer spending. Former President Bill Clinton is the featured keynote speaker on Jan. 17.

NRF’s 2012 BIG Show is expected be the biggest and best yet — drawing more than 22,000 retail professionals and hosting more than 420 exhibiting companies, with 85 different countries expected to be represented. This year’s Convention will place a special emphasis on retail’s significant role in driving the economy, offering ways for attendees to get engaged in NRF’s Retail Means Jobs campaign to advance innovation and growth in the retail industry.

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