OPERATIONS

Survey: Almost half of Cyber Monday shoppers to increase online spend

BY Katherine Boccaccio

Whiting, Ind. — Survey results released Tuesday by CouponCabin.com revealed that that 47% of Cyber Monday shoppers will spend more money online that day than they will in-store the during the rest of the holiday season. The holiday has gone mobile as well. More than one-quarter (29%) of smartphone and tablet owners plan to shop online on Cyber Monday on their devices.

The survey, conducted online nationwide by Harris Interactive, also found that 42% of smartphone owners who plan to shop online on Cyber Monday said they will "showroom" certain products on Black Friday with the intention to buy them on Cyber Monday.

When it comes to how much money they’ll spend on Cyber Monday this year, U.S. adults shared a variety of amounts. When asked how much money they plan to spend on Cyber Monday this year, those who plan to shop said the following:

  • $1-$100 – 39%
  • $101-$500 – 54%
  • $501 – $10,000 – 6%

“Cyber Monday’s popularity has grown year after year,” said Jackie Warrick, president and CEO of CouponCabin.com. “For some people, it’s even eclipsed Black Friday as the top day for saving, likely due to its convenience.”

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FINANCE

DSW reports profit drop in Q3; to open up to 30 stores in 2013

BY Katherine Boccaccio

New York — DSW Inc. reported Tuesday that net income fell 6.6% to $50.1 million, compared with $53.7 million in the same period last year.

Sales increased 11.7% to $592.7 million, compared with last year’s third quarter sales of $530.7 million and beating Wall Street’s expected $548.1 million in revenue.

Same-store sales increased grew 6.3%.

The company said it plans to open 25 to 30 new stores next year.

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News

Tommy Bahama, New York City

BY CSA STAFF

Tommy Bahama has dropped anchor in Manhattan, opening a 13,000-sq.-ft. flagship on Fifth Avenue. It’s the island-inspired brand’s first store in the Big Apple, and also its biggest location to date, with 5,000 sq. ft. of retail, along with a 1,300-sq.-ft. bar on the first floor, and 6,700-sq.-ft. restaurant on the second floor.

Located in a landmarked building built in 1927, the flagship was designed by Michael Neumann Architecture LLC. The design emulates an environment evocative of the brand – light, airy and relaxed – bringing to life the relaxed surroundings of a resort coupled with the sophistication of Manhattan.

Paying homage to the city, the facade features louvered screens created from reclaimed wood from New York’s famed Coney Island boardwalk, Cuenca limestone floor tiles, white screens that are perforated to create images of palm trees, a spiral staircase, and an oak plank ceiling that is weathered by sun and salt water to evoke the decking of a dock. The brand’s signature palm trees are located throughout the space. Tropical-inspired music enhances the mood.

Design elements include a 14-ft. fallen elm tree that has been repurposed as a display fixture, and a dramatic circular staircase.

Tommy Bahama Group, a subsidiary of Oxford Industries, operates over 100 Tommy Bahama stores worldwide, with 13 of those locations offering a restaurant and bar.


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