Posted by Sheila Shayon on November 7, 2014 03:59 PM
China's relatively new Singles Day e-commerce promotion on 11/11 has become the biggest shopping day worldwide, breaking more sales records each year since its inception.
Beginning in 2009 with 27 brands, the event was so big last year that banks were overwhelmed with transactions from Chinese retailers like Alibaba's Taobao Marketplace and Tmall.com, which logged $5.75 billion in sales—more than twice what U.S. retailers made on Cyber Monday in 2013.
Now forecasters are calling for a sales haul that could surpass $8 billion worldwide, and 11/11 mania is spreading worldwide. Continue reading...
Posted by Dale Buss on November 5, 2014 10:14 AM
Republicans take US Senate and some key blue-state governorships in elections that even Democrats interpret as repudiation of President Obama, while higher minimum wage passes in four states and pot is legalized in three.
Coca-Cola has hit on its hands with Coke Life, researcher says.
Red Lobster reverts to lobster roots in highly-watched rebrand.
Warner Bros. lays off about 1,000 of its 8,000-member workforce.
American Eagle brings April Fool's prank to life (for a cause) with American Beagle collection. Continue reading...
Posted by Abe Sauer on November 3, 2014 03:01 PM
It may be hard for any 20-something today to imagine, but there was a time when Gap was the coolest. Before the widespread invasion of H&M and its peers, Gap had a nation swing dancing—literally. In 1998 and 1999, Gap ads like "Swing Time" and "Swing a Go Go" had America be-bopping and the brand's stock price breaking $50 a share. Gap was cool, daddy-o.
Then, the party ended. Since 2000, Gap's share price has dropped below $10 twice (first in 2002, then again in 2009). More recently, it's managed to climb back to around $40, but largely because of billions and billions of dollars in buybacks since 2004, the most recent in Oct. 2004.
What Gap has not been able to buy back is its cool. From the (RED) campaign to throwback 1969 themes to celebrities—so, so many celebrities—to a desperate logo redesign in 2010, nothing has helped. So anyone's forgiven for rolling their eyes at the announcement that Gap was bringing in bleeding edge cool directors David Fincher and Sofia Coppola with the launch of a short art film series.Continue reading...
Posted by Dale Buss on October 30, 2014 09:12 AM
Apple CEO Tim Cook says he's "proud to be gay" in Bloomberg Businessweek public coming out essay following LGBT rights speech (above) as his company looks to sell iPhone in Iran while CurrentC, rival mobile-payment system to Apple Pay, is hacked.
Microsoft unveils Microsoft Band fitness wearable as it finishes round of previously announced layoffs.
Burger King clears antitrust hurdle with Tim Hortons deal.
Kohl's launches badly needed makeover and details Thanksgiving opening plan.
SodaStream shifts toward carbonated water and plans to close controversial West Bank factory.Continue reading...
Posted by Dale Buss on October 27, 2014 09:43 AM
CVS and Rite-Aid reject Apple Pay over conflict with rival retailer-supported technology as Walmart remains on sidelines.
Salesforce aims to boost sales by 20 percent with move into healthcare.
Apple designer Marc Newson crafts a shotgun for Beretta.
Chrysler pronounces 200 ready to "take on the world" in new ad campaign as automaker uses video games in dealer-staff training.
Ford prepares to overhaul Lincoln brand and launches MKC in China as Saturday Night Live spoofs brand's Matthew McConaughey spots with Jim Carrey.Continue reading...
Posted by Dale Buss on October 23, 2014 09:15 AM
Chevrolet celebrates pitching sensation Mo'ne Davis in longform commercial.
Amazon still finds profit elusive.
Macy's links with Google to show shoppers what's in stock nearby.
P&G ousts North American head in executive shuffle as CEO Lafley re-sets succession plan.
Pandora opens listener data to let musicians target fans.Continue reading...
Posted by Dale Buss on October 17, 2014 09:12 AM
Diageo's Haig Club single-grain whisky debuts Guy Ritchie-directed spot starring brand co-owner David Beckham.
Apple iPad reveal fails to wow as 3D-like logo rumored.
Google sees ad prices continue decline.
Jimmy Choo makes lackluster debut in first day of public trading.
Twitter lets users stream music and audio via SoundCloud integration.Continue reading...
Posted by Shirley Brady on October 8, 2014 09:36 PM
In a surprise announcement, Gap Inc. revealed that its CEO, Canadian Glenn Murphy, would be stepping down on Feb. 1 following a seven-year run at the top.
His replacement? Art Peck, the company's global head of growth, innovation and digital since 2012, who joined the company seven years earlier from Boston Consulting Group.
The news came as Gap Inc. reported flat sales for September: Gap Global -3%; Banana Republic Global +2%; Old Navy Global +1%. The company's stock fell 8.1% in after-hours trading on the news.
As the Wall Street Journal noted, Murphy had "reversed a long-running sales slump but more recently has struggled to reinvigorate the company’s namesake brand." He joined Gap Inc. in 2007 from Canadian pharmacy chain Shoppers Drug Mart, where he was CEO.Continue reading...