Tyco rolling out RFID-based inventory intelligence across Zara stores worldwide
Neuhausen, Switzerland — Tyco Retail Solutions announced that fashion retailer Inditex Group, operator of Zara, has awarded Tyco a chain wide contract for RFID-based Inventory Intelligence. The Tyco solution is currently deployed in 700 Zara stores across 22 countries.
The solution has delivered timely, accurate visibility into merchandise styles, colors and sizes for Zara, enabling Inditex to create precise merchandise plans and tailored product assortments, and to deliver an exceptional customer experience across the Zara chain, Tyco said.
With this RFID-based solution, Inditex is achieving operational efficiencies through improved inventory processes and better controls for reducing shrink. The retailer is optimizing its inventory investment and maximizing sales and margins.
According to Pablo Isla, Inditex president, “Implementation of this next-generation technology is the one of the most significant changes ever in how the Group’s stores operate.”
Inditex is utilizing Tyco’s Sensormatic dual technology RFID/Acousto-Magnetic (RFID/AM) hard tags and detachers at the point-of-sale.
Tyco is also managing Inditex’s tag recirculation program through a cost effective and environmentally sound approach that allows re-use of RFID/AM tags. With this solution, Inditex is taking advantage of the benefits of RFID-based inventory visibility while controlling shrinkage with robust anti-shoplifting AM technology.
Report: Wal-Mart invests $103 million in Indian operations
Bentonville, Ark. – Wal-Mart Stores Inc. has reportedly invested $103 million in its Indian operations with the goals of expanding its wholesale store count and increasing its online presence there. According to the Wall Street Journal, Wal-Mart intends to increase wholesale store base in India from the current 20 to 70 in the next five years.
The investment, designed to meet working capital and capital expenditure requirements, will also be used to offer the local retailers Wal-Mart serves through its Indian wholesale stores, which do not sell to consumers, 24-hour online service. Wal-Mart opened a pilot e-commerce site for small retailers located in the cities of Hyderabad and Lucknow in June, with full rollout across India planned in January 2015.
Ascena Retail Group CFO resigns
Mahwah, N.J. – Dirk Montgomery, executive VP and CFO of Ascena Retail Group Inc. since January 2013, has accepted a position with a healthcare-related company based in Florida. Ascena has initiated a search process for a new CFO.
Montgomery has agreed to remain through the end of the summer. Randy Pearce, a member of Ascena’s board of directors, chair of the Audit Committee, and former CFO of Regis Corp. from 1998 to 2011, will increase his involvement in overseeing the company’s finance department during the transition.