SEC: Companies can use social media to put out information
New York — The Securities and Exchange Commission on Tuesday said that companies can social media platforms such as Twitter and Facebook to make significant announcements as long as they alert investors about which sites they plan to use for the disclosures.
"Most social media are perfectly suitable methods for communicating with investors, but not if the access is restricted or if investors don’t know that’s where they need to turn to get the latest news," said George Canellos, acting director of the SEC’s division of enforcement, in a statement.
The announcement was triggered by a probe stemming from a post last summer on the personal Facebook page of Netflex CEO Reed Hastings that stated Netflix’s monthly online viewing had exceeded one billion hours for the first time. The SEC said the information had not been revealed through more traditional means. The SEC said it did not initiate an enforcement action or allege wrongdoing in that case.
Destination XL Group taps CQuotient to launch personalized email programs
Cambridge, Mass. — Destination XL Group, the largest multichannel specialty retailer of big and tall men’s apparel, will leverage CQuotient’s advanced machine learning and predictive algorithms to create email campaigns tailored to individual shoppers at its Destination XL (“DXL”) stores and e-commerce sites.
According to a recent survey of shoppers in the U.S. and U.K., 48% of respondents listed email as their communication channel of choice. Recognizing this preference among its own shoppers, Destination XL Group has teamed up with CQuotient to augment the benefits of its existing email marketing campaigns by taking a hyper-personalized approach. Destination XL Group will now have the ability to harness big data from all customer touchpoints and will use these insights to deliver more relevant and valuable digital communications.
“Email is one of our strongest communication methods when it comes to connecting with our customers outside of store walls, and we wanted to help mirror our personal in-store experience through this channel,” said Jay Nigrelli, VP e-commerce, Destination XL Group. “By partnering with CQuotient, we expect to take our email campaigns to the next level. They will turn what was once an overwhelming amount of data into relevant messages tailored to each individual’s shopping patterns and preferences; and they’ll do so using our existing email processes and infrastructure. We are very excited to deliver more valuable, always relevant information to our customers.”
City Sports names new chief merchandising officer
Boston — City Sports announced that it has named Ted Manning as chief merchandising 0fficer.
Manning joins City Sports following nearly two decades of service with outdoor retailer Eastern Mountain Sports, most recently as their EVP, where he developed strategies for retail expansion, merchandising, product development and marketing. Manning began his career at EMS in store management, climbing the ranks to hold posts as a product manager, merchandise director and VP/general merchandise manager.