Supply chain theft poses major problems for retailers
Washington, D.C. — Organized retail crime should not be an issue solely addressed at the store level, according to the results of the National Retail Federation’s seventh annual Organized Retail Crime survey. More than half of retailers (49.6%) say they have been a victim of cargo theft in the past 12 months.
While theft often occurs en route from the distribution center to the store (57.4%), retailers also are also victimized at other points along the supply chain, including between the manufacturer and the distribution center (39.7%), at the distribution center (22.1%), and as merchandise moves from one store to another (22.1%).
“Cargo theft is a rewarding, profitable enterprise, and criminals are increasingly finding ways to infiltrate the supply chain,” said NRF senior asset protection advisor Joe LaRoccaLaRocca. “As thieves target shipping containers, retailers and law enforcement are fighting back with new initiatives and operations to directly address cargo theft.”
The 2011 NRF Organized Retail Crime survey was conducted from April 19 — May 10 by the NRF.
HSN names SVP digital commerce
ST. PETERSBURG, Fla. — HSN announced that Arthur Lewis has been appointed SVP merchandising, digital commerce, effective June 27. Lewis will report directly to Jill Braff, EVP digital commerce for HSN.
Lewis will oversee HSN’s cross-channel merchandising strategy on hsn.com, mobile and tablet platforms. He will also leverage his extensive digital background to grow all brands and categories of business, including online product exclusives and category expansions, the company reported.
"Arthur’s in-depth experience in building brands as well as his keen understanding of the changing commerce space will be invaluable to HSN," said Braff. "His appointment underscores our commitment to transforming our digital business to robust intersections of content, community and commerce, defined for individual screens and customized for consumers who use them."
Prior to joining HSN, Lewis was the general merchandising manager for private sale site HauteLook. Previously, he spent eleven years at Gap Inc., where he last served as SVP adult merchandising for the Old Navy division. He has also held positions at Bloomingdale’s and Saks Fifth Avenue.
Ackman considers I.P.O. for new fund
New York City — A Thursday report in the New York Times said that activist investor William A. Ackman is pondering whether or not to raise capital for a new fund through an initial public offering.
Citing people familiar with the matter, the Times said that the head of Pershing Square Capital Management is planning to raise billions of dollars for a closed-end fund that would be listed on an exchange, but that the firm itself would not go public.
Ackman has been quoted as saying that a more stable capital base would allow him to invest more freely, without the worry that money could be withdrawn during times of distress and allowing him to produce greater returns.
For the complete article, click here.