Study: DSW is America’s favorite shoe retailer, followed by Nordstrom
Boulder, Colo. — In survey results released Wednesday by Market Force Information, DSW was named America’s No. 1 shoe retailer by more than 4,000 consumers polled.
Nordstrom, Nike, Shoe Carnival and Famous Footwear rounded out the top five.
The study, conducted in February, was designed to uncover which shoe retailers consumers like most and why they prefer one to another. Market Force first calculated the favorites based on the total number of votes, and then factored in the number of locations for each chain for a more level view of the results. Of all the retailers included in the study, DSW garnered the most total votes, and it remained the leader when the votes were indexed by the number of store locations.
Market Force also asked consumers to rank shoe retailers based on key attributes such as value, merchandise selection and loyalty programs. A strong loyalty program is appreciated by consumers, according to the study, and this was one area where DSW excelled, taking the top spot. DSW performed consistently well across most of the attributes while Nordstrom ranked first in seven of the nine categories – from customer service to atmosphere to merchandise selection. It didn’t fare as well in value, a distinction that went to Payless ShoeSource. Nike and Shoe Carnival emerged in the top three rankings for nearly all of the attributes.
Nike ranked number two in six of the nine categories including service, atmosphere, selection, designer lines, unique shoes and loyalty program. Payless Shoes topped the chart for value and Shoe Carnival also ranked high for several categories including value, service, atmosphere and designer lines.
“Shoes have become a pre-eminent fashion statement for women and men alike, so it is no surprise that it’s a multi-billion dollar industry with retailers fiercely battling for market share,” said Janet Eden-Harris, chief marketing officer for Market Force. “While offering a variety of merchandise is clearly a retail differentiator, our findings show that discerning consumers also strongly value great customer service, loyalty programs, a liberal return policy and unique footwear choices.”
When survey respondents were asked to rate how satisfied they were by their experiences at the nine top-ranking shoe retailers, Nordstrom came out on top, followed by Nike, Shoe Carnival, DSW and Target. To gauge if high satisfaction levels drive recommendations, Market Force asked respondents how likely they were to recommend these stores to others. Nordstrom was again a clear favorite, pointing to a correlation between customer satisfaction and willingness to recommend. Of the top retailers studied, Walmart ranked the lowest on the Customer Delight Index.
Former Walmart.com CEO to sit on Staples board
New York — Staples named former Walmart.com CEO Raul Vazquez to serve on its board of directors.
Vazquez currently serves as CEO and a director of Progreso Financiero, financial services firm focused on serving the needs of "under-banked" Hispanic customers. The election of directors at Staples will take place at the company’s annual meeting on June 3.
Staples chairman and CEO Ron Sargent said: "Raul would be an outstanding addition to our board. He is a multichannel veteran with deep digital expertise and leadership experience in retail, marketing and operations. His global e-commerce perspective would be particularly valuable as we focus on rapidly increasing online sales as part of our strategic reinvention."
Vazquez joined Progreso Financiero last year after previously serving as CEO of Walmart.com and holding a variety of other roles at the retailer. He also served as EVP and president of operations for Walmart’s business unit in western states.
J.C. Penney CEO’s pay package plummeted 97% in 2012
New York — A Securities and Exchange Commission filing on Tuesday revealed that embattled J.C. Penney CEO Ron Johnson saw his compensation package plummet 97% to about $1.9 million in 2012.
Johnson received a base salary of $1.5 million, up from his partial-year salary of $375,000 in 2011, but did not receive stock or option awards in 2012. That compares with a stock award worth $52.7 million on the date it was granted in 2011, when Johnson was named CEO.
He also received $388,587 in other compensation in 2012, including contributions to savings plan and personal use of company aircraft, home security systems and information technology services.
According to J.C. Penney, no executives were given any performance-based bonuses in 2012, as the company reported an operating loss for the fiscal year of about $1 billion. J.C. Penney added in the filing that fiscal 2012 was the first year of a "multi-year transformation strategy" for the company, as it “underwent tremendous change as we began shifting our business model from a promotional department store to a specialty department store. Fiscal 2012 was tougher than expected and the company’s sales and operating profit declined significantly."