Transplace takes on Canada with new deal
Leading third party logistic provider Transplace has acquired Canada’s Torus Freight Systems.
Transplace, a leading provider of transportation management services and logistics technology, acquired for an undisclosed sum Torus Freight Systems, a Canadian-based logistics services company focused on Canadian cross-border and intra-Canada freight.
"Acquiring Torus, a leading Canadian 3PL, continues our expansion through strategic acquisition," said Transplace CEO Tom Sanderson. "In 2011, Transplace acquired SCO Logistics to broaden our vertical experience in chemicals and joined forces with Celtic International bringing us door-to-door intermodal expertise. Geographic expansion was our goal, and that’s exactly what we have accomplished with this acquisition."
Sanderson said Transplace was pleased to add Torus’ expert employees to its workforce and the company’s strong Canadian carrier base to its portfolio because it balances Transplace’s strong presence in Mexico.
"We are thrilled to have an Ontario office to better serve our customers. Bringing the Torus team on board allows Transplace to offer more services to existing customers and to serve a new set of customers," Sanderson said.
Transplace is one of the nation’s top ten freight capacity brokers in the and a leading provider of 3PL services with more than $1.3 billion in annual revenue.
Since 2009, Transplace has been owned by the private equity firm CI Capital Partners.
"Torus is a great addition to the Transplace portfolio, and we are excited to support Tom Sanderson and the rest of the Transplace management team in building the business across North America," said Joost Thesseling, managing director at CI Capital Partners.
Belk exec Scibetta named new EVP, GMM at Shoe Carnival
EVANSVILLE, Ind. — Former Belk executive Carl Scibetta has been named the new EVP and GMM at Shoe Carnival. Scibetta will report to Cliff Sifford, the former GMM, who was recently appointed president and CEO of the company.
“We are extremely excited to have Carl join our Shoe Carnival team. His extensive experience in footwear for the entire family will help us to continue to provide the right assortment of trend right product our customers have come to expect from Shoe Carnival. Additionally, we believe his proven success in non-athletics will help us attract new customers and provide a deeper assortment of brand name footwear at a compelling value to existing customers,” said Sifford.
Scibetta has more than 32 years of experience in the footwear industry. Most recently, Scibetta served as Belk’s VP and divisional merchandise manager of footwear at its headquarters in Charlotte, N.C. In that role, Scibetta was responsible for buying, planning and distribution of all family footwear for Belk. During his years with Belk, Scibetta served in a variety of positions of increasing responsibility, including divisional merchandise manager and buyer, before becoming its VP and divisional merchandise manager in 2008. From 2004 to 2007, Scibetta served as Parisian’s VP and divisional merchandise manager, footwear, and from 1998 to 2000, he served as VP and divisional merchandise manager with the Shoe Corporation of America. His impressive footwear career began at the Wohl Shoe Company, where from 1980 to 1994 he served in positions of increasing responsibility from field supervisor to merchandiser, planner, and merchandise manager.
“I’m very excited to be working with the Shoe Carnival as an executive on the merchandising team. This is a great opportunity for me to leverage my background of working closely with the vendor community to build strong assortments of branded footwear at a value to the consumer. I look forward to helping the company as they focus on their goals of increasing unit growth and capitalizing on opportunities to expand sales of family footwear that increasingly resonates with today’s value conscious consumer,” Scibetta stated.
‘Tis the season for ripping off retailers
Abuse of liberal return policies and enterprising thieves will cost the retail industry $8.9 billion this year, including $2.9 billion during the holidays alone.
The National Retail Federation arrived at those massive numbers after surveying loss prevention executives at 60 member companies who estimated that 4.6% returns made during the holidays are fraudulent.
"Return fraud comes in a variety of forms and continues to present challenges for retailers trying to grapple with the sophisticated methods criminals are using to rip off retailers," said Rich Mellor, NRF’s vp of loss prevention. "Even more troubling is the fact that innocent consumers often suffer because companies have to look for ways to prevent and detect all types of crime and fraud in their stores, oftentimes resorting to shorter return windows and limitations on the types of products that can be returned."
Return fraud can take many forms and runs the gamut from organized criminals who return products using counterfeit receipts to those that exploit companies’ liberal return policies by returning items that have been worn or used.
According to the survey, 96.5% of retailers said they experienced the return of stolen merchandise in the last year, and 84.2% reported that they have experienced the return of merchandise purchased on fraudulent or stolen tender. Wardrobing – the return of used, non-defective merchandise like special occasion apparel and certain electronics – is a huge issue, with nearly two-thirds saying they have been victims of this activity within the last year. Additionally, 45.6% have found criminals using counterfeit receipts to return merchandise. Employee return fraud or collusion with external sources is also a big problem for retailers too with 81% reporting they dealt with the issue during the past year.
For the first time NRF asked loss prevention executives about return fraud with the use of e-receipts and about 20% said they have dealt with the issue. It is area ripe for increased loss as online sales continue to grow and retailers’ allow merchandise to be returned in stores.
"Many shoppers love the convenience and flexibility that digital receipts offer them, and unfortunately criminals are finding ways to manipulate them," said Mellor. "Return fraud in any form is a serious threat, and we know that retailers have made significant strides in their fight against retail crime, and are continuing their efforts working with law enforcement to address this multi-billion dollar problem."
Despite the prevalence of return fraud, retailers’ policies this holiday season are largely unchanged. Most respondents (83.1%) said their return policies this year are the same as last year and 10.2% said they actually relax their policies.
One solution to combat return fraud when customers don’t have a receipt is to ask for some form of identification. Because 13.4% percent of returns made throughout the year without a receipt are estimated to be fraudulent, three fourths of retailers now require customers to show identification.
The NRF survey was conducted in October and involved loss prevention executives from discount, department, drug, supermarket and specialty stores.