Speaking of Customers
“The world has changed a lot since my parents first shopped at Walmart; so have people and how they live. Our Next Generation Customer will include millions who are striving to join the emerging global middle class. They’re from the countryside around Punjab, India and the blue-collar suburbs of Sao Paulo, Brazil. They’re in the big cities — from the wards of Chicago to the boroughs of New York City. They’re connected to the world through smartphones and social media. They’re in charge of when they shop and how they shop.”
— Mike Duke, president and CEO, Wal-Mart Stores, speaking at the company’s 2011 Annual Shareholders Meeting.
Prada to use IPO proceeds to expand, renovate stores
Hong Kong — Italian fashion house Prada, which is preparing for an initial public offering of about $2 billion in Hong Kong, said it plans to use most of the proceeds on expansion and renovation of its stores over the next 18 months.
The Milan-based company said it plans to add a net total of about 80 directly operated stores by the end of January 2012, most of them in the Asia Pacific region, where it sees "substantial potential for growth," Prada said in the a regulatory filing.
The fashion house has about a third of its 326 directly operated stores in Asia-Pacific, its fastest-growing market.
Sport Chalet swings to profit in Q4
Los Angeles — Sporting goods chain Sport Chalet reported Thursday that it swung to a profit in its fiscal fourth quarter of $0.3 million, from a net loss of $0.3 million in the year-ago period.
Sales increased 8.8% to $98.2 million. Same-store sales edged up 1.3%.
The fourth quarter profit was the chain’s first in 13 quarters.
ff and service, and store facility.