Toys ‘R’ Us to run 10% back holiday promo
Wayne, N.J. — Toys “R” Us will again give its loyalty rewards members 10% back on holiday purchases.
The offer, whereby members of the chain’s rewards club get 10% back in “R Us” dollars for each dollar spent on qualifying purchases, is available from Oct. 30 through Christmas Eve. The promotional dollars will be sent to customers via email in January and can be used on future in-store purchases.
The offer this year also includes 2012 Super Savers Pass, which rewards members can earn when they spend $200 or more during the designated period.
On Monday, Walmart announced a holiday price guarantee, saying it would match competitors’ advertised prices retroactively if shoppers see a better deal any time during the holiday season.
Chief merchandising officer leaves Citi Trends
Savannah, Ga. — Citi Trends announced the resignation of Elizabeth R. Feher, the company’s executive VP and chief merchandising officer.
Ed Anderson, the company’s board chairman, will temporarily resume his previous role as executive chairman and, in that capacity, oversee merchandising and marketing while the retailer searches for a chief merchant.
Coach Q1 sales jumps 14%
New York City — Coach said Tuesday its first quarter profit increased 14% on strong demand for its products at home and abroad. Its results beat expectations and reflected the continuing strength of the luxury market.
Coach reported net income of $215 million for the three months ended Oct. 1, up from $188.9 million in the year-age period.
Revenue rose 15% to $1.05 billion, from $912 million a year ago. Same-store sales were up 9.2% in North America.
Coach CEO Lew Frankfort said the company is "well positioned for another excellent holiday season," due to the momentum of its business and breadth of offerings.
In North America, Coach opened two stores, including one men’s store and closed two locations. At quarter’s end, the company operated 345 retail stores and 152 factory stores in North America.
Coach has been focusing on increasing its men’s offerings and expanding abroad.
At quarter’s end, the company operated 345 retail stores and 152 factory stores in North America.