Stuart Weitzman taps VendorNet to step up e-commerce with store fulfillment
Boynton Beach, Fla. — VendorNet, a provider of cross-channel fulfillment technology, said that international footwear designer and retailer, Stuart Weitzman will launch VendorNet’s StoreNet Ship-from Store software to integrate its store inventory for e-commerce sales and fulfillment to save sales on the web and in stores.
"The ability to leverage our network of store inventory to augment the online experience provides significant added value to our customers. We will minimize out-of stocks, and satisfy customer demand at their desired point-of-purchase, which is a key factor in delivering an enriched experience for today’s cross-channel shoppers," said Phil Kodroff, VP distribution and MIS at Stuart Weitzman. "The nature of our products implies a relatively high average order size, so out-of-stocks due to imperfect inventory allocations by location can have a significant impact on bottom-line sales. By exposing enterprise-wide inventory online and in all stores, StoreNet will enable us to capture revenue that would have been lost."
Stuart Weitzman’s U.S.-based stores will be live with StoreNet in May.
StoreNet’s ability to integrate with a retailer’s existing retail systems infrastructure allows for rapid deployment. Likewise, a simple store interface minimizes the impact of in-store fulfillment.
StoreNet routes e-commerce orders to stores when the direct-to-consumer warehouse is out-of-stock. Through StoreNet’s order allocation engine, an order is dynamically routed to the best store suited for fulfillment based on business intelligence such as the sell through rate at the item level by store, and a variety of other retailer-defined business rules. Store associates access orders through an intuitive web-based/mobile interface that guides store associates through the fulfillment process including automated pick lists, packing slips, shipping labels, and carrier manifests.
“StoreNet will help us ensure we deliver the complete shopping experience including seamlessly fulfilling orders regardless of the sales channel,” Kodroff said. “If our warehouse or a store is out-of-stock, we can leverage StoreNet to route the order to another location for fulfillment. We don’t disappoint our customers, and we optimize our inventory, a win for our customers and our bottom line.”
Office Depot narrows loss in Q4
Boca Raton, Fla. — Office Depot said Tuesday that it narrowed its loss in the quarter ended Dec. 25 to $58 million, compared with a loss of $77 million in the year-ago period.
Total sales dropped 3% to $3 billion. Sales in the North American Retail division dipped 2% to $1.2 billion; same-store sales decreased 1%. During the quarter, Office Depot closed six stores, opened three and relocated four stores in North America.
For the full year 2010, the retailer reported a sales drop of 4% to $11.6 billion. It lost $2.2 million for the year, compared with a loss of $627 million in 2009.
Wal-Mart’s Q4 profit surges 27% on international gains; U.S. sales still lag
Bentonville, Ark. — Wal-Mart Stores reported Tuesday that earnings for the quarter ended Jan. 31 jumped 27% as its international stores posted strong results. In the United States, however, the retailer posted its seventh straight quarterly sales decline, falling short of its own projections for the holiday period.
In the fourth quarter, Wal-Mart’s profit rose to $6.06 billion, compared with $4.76 billion a year earlier. Revenue climbed 2.5% to $115.6 billion but the gains came from Wal-Mart’s international operations. U.S. sales at the namesake Walmart unit fell 0.5% to $71.1 billion, and were down 1.8% on a comparable-store basis. Wall Street had expected a 0.8% increase.
"Some of the pricing and merchandising issues in Wal-Mart ran deeper than we initially expected, and they require a response that will take time to see results," CEO and President Mike Duke said in a statement.
Going forward, the chain said it plans to focus on everyday low prices on a basket of goods, feature the broadest assortment possible and remodel Walmart stores and focus on multichannel selling to spur U.S. sales.
Proving its international strength, Wal-Mart reported fourth quarter international sales rose 8.9% to $31.4 billion, helped by particularly strong sales in Brazil, China and Mexico. Profit increased 7.1%.
However at its U.S. business, sales slid 0.5%, the second quarterly decline in a row. At Sam’s Club, revenue rose 4.4%.
Duke said in a recorded conference call Tuesday that the chain would move forward "with even greater urgency in opening small stores." The company said that it plans to open its first Walmart Express stores in the second quarter.
The company also noted during the prerecorded call that rising inflation in key raw materials such as cotton is pushing it to consolidate suppliers to improve purchasing power.