Sport Chalet moves to loss in Q2
Los Angeles — Sport Chalet reported a loss for the second quarter of fiscal 2014 of $3.0 million, compared to net income of $0.8 million in the year-ago period. Sales decreased 5.2% to $86.7 million from $91.5 million, with a 2.5% comparable store sales decrease. Among the few bright spots was a 32.4% increase in online sales, and a better-than-expected performance by the chain’s new store concept.
"Our second quarter had a disappointing start, as sales trends were weak in July and August, but turned positive in September on a comparable basis," said Craig Levra, chairman and CEO. "Sales trends have continued to improve as we progressed into fall, and our Team Sales Division is also beginning to move into positive territory."
In June, the retailer opened its "next generation store" in downtown Los Angeles. Levra said the store has delivered "significantly better than average sales per square foot and gross margin than the chain as a whole."
"The flexible store format allows us to continually adapt the highly tailored merchandise mix to appeal to our downtown customer base, and early results have exceeded our expectations," he said. "With additional capital, we believe there is enormous sales growth potential in rolling out this next generation format across our existing store base through a strategic remodel program, and opening new next generation stores in both our core markets and new geographies."
Silver Jeans Co. taps YCD Multimedia for new store concept
New York — YCD Multimedia, a provider of smart digital signage solutions, announced that Silver Jeans Co. has installed YCD’s content management system (YCD|CMS) as the engine behind a new in-store concept.
The new format uses music and video wall technology to build customer loyalty within a multi-sensory environment that captures attention and shares the Silver Jeans’ story. The concept debuted at The Woodlands Mall in Woodlands, Texas, is the first of several locations marking Silver Jeans’ transition to exclusive brick-and-mortar retail.
All content management strategy and services are planned and controlled by ScreenPlay Entertainment.
The 1,536-sq.-ft. "loft" store highlights the latest collection from Silver Jeans Co. and offers consumers a personalized approach to a full range of the company’s apparel. It has a central sitting area that faces a media wall as the store’s centerpiece, a design layout that will be part of the store architecture at Silver Jeans’ new retail locations.
YCD and ScreenPlay partnered to provide the sight and sound for this experience. To provide the media, ScreenPlay crafted a custom program that encompasses music videos, as well as the store’s branded media pieces. The goal was to create an audio visual experience that would give both staff and customers an opportunity to hear music with a “you heard it here first” feel. The challenge was to meld breaking indie rock with timeless classics to create a musical fusion indicative of the Silver Jeans brand.
"Music has been an integral part of denim culture and our show celebrates that relationship our way," said Darren James, senior director of retail operations, Silver Jeans Co. "The decision was all about Brand and we believe the indie music scene celebrates our ‘Independent and Free’ brand value. The artistic nature of the video content celebrates the expression of one’s ‘true self.’ ScreenPlay fundamentally understood the sound of our brand on the first pass."
IBM sees strong online holiday for retailers
Armonk, N.Y. — Online retailers can expect a strong holiday shopping season. According to the latest IBM Digital Analytics Benchmark data, which analyzes online transactions from more than 800 retailers in the U.S., retail sales were up 16% in October and 11% in the first week of November (Nov. 1-Nov. 7) compared to the same period last year.
Department stores have reason for optimism as online sales are up 110% year-over-year for the first week in November. In addition, mobile shopping continues to surge. The mobile percentage of online sales increased more than 43% year-over-year for the first week of November to 14% of all online sales.
According to the report, shoppers are poised to be on the hunt for bargains, discounts, and retailer coupons, using their favorite apps to cash in on savings. This trend holds true the first week in November, where average order value was down 4%, yet online sales rose 11% over the same week in 2012.
In other findings:
- Consumers continue to look to their smartphones for retail browsing (19.56% of total online traffic), tablet shoppers (12.10%) are the ones cashing in. Average order value for tablet sales was 14.6% higher than that of smartphones in the first week of November but they converted three times more than smartphone users. Tablet shoppers spent on average $117.97 per order, as compared to $102.99 per order for smartphone shoppers.
- As consumers continue to explore the shopping potential of social media sites, Facebook and Pinterest rise to the top. Pinterest users had an average order value of $136.17 the first week in November, while Facebook users spent an average of $54.88. But the real story lies in how well these sites convert browsers into buyers – and Facebook wins the conversion competition – converting four times higher than Pinterest shoppers.