Weis Markets Q2 net income plummets
Sunbury, Pa. – Net income at Weis Markets Inc. plummeted close to 47% during the second quarter of fiscal 2014, compared to the prior year period. Weis reported net income of $12.8 million, compared to $21.18 million a year earlier.
Weis cited company reinvestment and price discounting as driving the net income decline. Second quarter sales increased 4.5% to $691.9 million, from $662.1 million and same-store sales increased 2.9%.
"This is a year of planned recalibration for our company and one where we are reinvesting in increased sales and market share to better ensure our long-term growth," said Jonathan Weis, president and CEO of Weis Markets. "We have achieved these sales results despite self-imposed grocery department deflation due to our pricing initiatives. Our investments in these price reductions and other sales building programs have resulted in higher sales per customer and an increased customer count."
Meijer runs omnichannel back-to-school promo
Grand Rapids, Mich. – Meijer is running an omnichannel back-to-school promotion offering Back-to-School Bucks, which are available through print and the Meijer digital coupon program, mPerks. Furthermore, customers can customize their own sale and save more than $35 on general merchandise and health and beauty care products the weekend of Aug. 15-16.
Meijer is alslo offering deals like weekly price drops as well as 100 back-to-school items priced at $1 or less. The retailer’s business for back-to-school items has consistently doubled in the past few weeks and a customer survey shows 70% of Meijer shoppers do not anticipate completing back-to-school shopping before the school year begins.
PureFormulas boosts personalization with Oracle Commerce
Redwood Shores, Calif. – Specialty supplements retailer PureFormulas recently migrated to Oracle Commerce to personalize the customer experience and open up new market segments without sacrificing ease of use.
PureFormulas implemented Oracle Commerce to help grow its business by creating different commerce experiences for different customer segments. The new platform allows for a much more customizable experience, with opportunities for personalized promotions, cross-selling, up-selling, and auto-ship — all with revenue-increasing capabilities.
With the migration to Oracle Commerce, PureFormulas is launching four new verticals: sports and fitness nutrition, pet health, beauty, and food. The retailer will also mine customer data, allowing for faster, more intelligent decision making. The Oracle Commerce implementation was completed with minimal impact on business teams, other than customer service representatives who will now process returns and order inquiries with the new tool.
PureFormulas worked with Vachio Solutions Group (VSG), a Gold-level member in Oracle PartnerNetwork (OPN), for the implementation.