VisibleBrands raises financing, names new CEO
Kirkland, Wash. – VisibleBrands has raised approximately $2.3 million through a Series B financing to support a regional expansion of its patented in-store digital couponing platform. In preparation for the company’s regional expansion, VisibleBrands promoted Tim Belvin to CEO, succeeding founding CEO Tim Morton.
The new funding follows a year-long VisibleBrands field test in Spokane, Wash., showing that average coupon redemption was approximately twice industry norms and typical brand lift was a five-time average sell-through as total brand sales benefited from exposure at the moment of decision. VisibleBrands’ enabled digital offers require no clipping, downloading, mobile phone, or registration or opting-in. People shop as usual and with a single touch of an in-aisle screen, can accept a digital coupon. The offer is digitally clipped to the grocery cart using location-based, wireless and cloud technologies, and the savings are credited automatically at checkout.
“We are still tinkering with some of the variables and believe we can deliver even stronger results during the next regional rollout phase,” said Belvin.
Agwunobi weighs in on health care, clinics & Obamacare
Walmart’s health and wellness president John Agwunobi shared wide-ranging thoughts earlier this week regarding the state of health care in America and ways in which the evolving marketplace is impacting Walmart customers.
Agwunobi touched on the role of in-store clinics, nonprescription products and said high costs resulting from implementation of the Affordable Care Act will mean consumers have less money to spend on other things. He spoke at a gathering of the Bentonville/Bella Vista Chamber of Commerce Walstreet members, which consists largely of Walmart suppliers.
Click here for more details on what he said.
Coach Q2 income, sales down
New York — Coach Inc.’s net income dropped to $297.4 million in the second quarter, from $352.8 million a year earlier sales in North America fell sharply during the key holiday season.
Overall revenue for the three months ended Dec. 28 fell 5.6% to $1.42 billion, with a 13.6% decrease in comparable-store sales in North America.
“We continued to be disappointed by our performance in North America, which was impacted by substantially lower traffic in our stores and by our decision to limit access to our e-factory flash sales site," said CEO Victor Luis, who succeeded Lew Franfort this month as planned.
Coach has been under increased competition by such rival brands as Michael Kors Holdings, Kate Spade and Tory Burch.