FINANCE

Zumiez Q2 profit doubles, opening 58 stores in 2013

BY Katherine Boccaccio

Lynnwood, Wash. — Action sports retailer Zumiez reported net income of $4.7 million for the quarter ended Aug. 3, compared with $2.1 million a year earlier. Sales surged 16.9% to $157.9 million, and same-store sales edged up 0.9%.

“We believe we have compelling merchandise assortments and our efforts to enhance our omnichannel capabilities are yielding positive gains,” said Rick Brooks, CEO. “With significant expansion opportunities still ahead of us, we continue to invest in our people and infrastructure in order to best position the company to deliver sustainable sales and earnings growth and shareholder value for years to come."

The company said it plans to open 58 new stores in fiscal 2013, including nine stores in Canada and five stores in Europe.

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OPERATIONS

Study: Retailers lacking in store associates, price and checkout experience

BY Katherine Boccaccio

Ann Arbor, Mich. — Retailers’ strides toward satisfying their customers was the subject of a survey conducted by CFI Group, which found that retailers’ physical store and online presence were meeting consumer expectations, but store associates, price and checkout are areas needing improvement.

The study utilized the American Customer Satisfaction Index methodology to measure six elements of the customer experience, including physical store, associates, merchandise, price, checkout and online presence. All six elements were scored as drivers of customer satisfaction, ranging from zero to 100.

The research found that consumers had the highest rating of satisfaction with the condition and cleanliness of traditional department stores and mall-based specialty stores, with scores of 87 and 85 respectively, over large-format value stores, which scored 81.

"Understanding what drives customers back to the store is critical to a retailer’s business performance," said Sheri Petras, CEO of CFI Group. "This study provides retailers with an understanding into how to improve their customer satisfaction within the segment they serve and their brand communities."

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P.Siegel says:
Sep-06-2013 12:58 pm

RETAILERS
It seems all retailers, since the beginning of time, refuse to realize that customers HATE TO STAND IN LINE.

P.Siegel says:
Sep-06-2013 12:58 pm

It seems all retailers, since the beginning of time, refuse to realize that customers HATE TO STAND IN LINE.

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OPERATIONS

Report: Target to offer in-store pickup of online orders by holidays

BY Marianne Wilson

New York — Target Corp. will follow the lead of several other retailers, including Walmart, and allow shoppers to pick up select goods ordered online in its stores, the Star Tribune reported.

Target will introduce the service, referred to as Buy Online, Pick Up in Store (BOPS), in its hometown Minneapolis market and then expand it to all of its U.S. stores by Black Friday, according to the report.

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