Posted by Dale Buss on April 11, 2013 09:16 AM
Deutsche Telekom raises bid for MetroPCS.
The Masters begins at Augusta National today with Tiger Woods again among the favorites.
Toyota and other Japanese automakers recall 3.4 million vehicles over Takata airbag.
Applebee's led first-quarter social media engagement by restaurants.
Barnes & Noble rebrands self-publishing platform PubIt! as Nook Press as it continues to invest in future of Nook brand.
Justin Bieber backs a debit card for teens, from parents.
ConocoPhillips suspends Arctic drilling plan.
Daimler says worsening Europe puts its 2013 profit outlook in doubt.
Dell plans to double sales outlets in China.Continue reading...
Posted by Dale Buss on April 10, 2013 04:22 PM
It's Day 2 of the post-Johnson era at JCP—or JCPenney (or is it back to J.C. Penney now?)—and it isn't at all clear how the venerable American retailer is going to recover from what just-sacked CEO Ron Johnson did, and didn't, do.
But JCPenney, now back under the leadership of pre-Johnson CEO Myron "Mike" Ullman, is going to try. Wall Street has been tapping down Penney's stock in the wake of the board's decision to oust Johnson earlier this week, but it isn't because investors believe that Johnson should have stayed. It's because they fear that the former head of Apple retail operations did so much damage during his short tenure at the helm that the company isn't salvageable.
Ullman is at least going to give it everything he's got in his second shot at the job. The retailer is still fighting a 10 percent sales drop during its ongoing fiscal first quarter, the Wall Street Journal said, on top of a 19 percent drop during the same quarter a year ago and the overall 25 percent dip in revenues during 2012.Continue reading...
Posted by Dale Buss on April 10, 2013 09:17 AM
Chrysler recalls more than 214,000 vehicles.
JCPenney acting CMO Sergio Zyman canvasses adland for marketing help as Macy's/Martha Stewart trial rolls on.
GM returns to Facebook advertising with mobile test for Chevy Sonic as it provokes unionists in Korea with talk about pullout, and Facebook widens data targeting for advertisers.
Aereo finds broadcasters circling the wagons against its streaming model.
Apple and Yahoo discuss deeper iPhone partnership, WSJ says.
Beech-Nut teams with Goya to launch Hispanic baby food line.
Behr launches social media program to market paint.
Cablevision Systems gives more responsibilities to wife of CEO.
Cannes Lions Festival adds jury on Branded Content and Entertainment.
Chili's begins marketing pizza nationwide.
Facebook has yet to monetize billion-dollar Instagram acquisition.
Fiat becomes more reliant on US and Asia for growth.
Fisker Automotive prepares to file under Chapter 11 soon.
Frontier Airlines may be on the block, WSJ says.Continue reading...
Posted by Dale Buss on April 8, 2013 07:12 PM
Ron Johnson has been ousted as CEO of JCPenney as the retailer's board of directors voted on Monday to turn to his predecessor to pull the company out of the death spiral (it lost $4.3 billion in sales last year) on Johnson's watch, rather than give the former Target executive and Apple retail head the extra time he wanted to see his radical vision through to fruition.
Mike Ullman, who had been CEO of JCPenney until 2011, before Johnson, is returning to take the helm again at least for the time being, according to a JCPenney press release:
"The Board of Directors of J.C. Penney Company, Inc. today announced that Myron E. (Mike) Ullman, III has rejoined the Company as Chief Executive Officer, effective immediately. He has also been elected to the Board of Directors. Mr. Ullman is a highly accomplished retail industry executive, who served as CEO of jcpenney until late 2011. He succeeds Ron Johnson, who is stepping down and leaving the Company."
The stock market appreciated the move, which comes on the same day that JCPenney resumed its courtroom clash with Macy's in Manhattan over rights to field the Martha Stewart product lines that Johnson maintained would be crucial to turning around JCPenney's fortunes.Continue reading...
Posted by Dale Buss on April 8, 2013 09:02 AM
AB InBev reached a tentative agreement with the U.S. Department of Justice over its disputed $20.1 billion acquisition of Mexican brewer Grupo Modelo, which faces inquiry over Mexico worker deaths.
GE to buy Lufkin for $3 billion in oil-and-gas-industry play.
PepsiCo seeks to patent novel high-protein nutrition beverages.
Adidas stops controversial sale of t-shirts around injured Louisville player Kevin Ware.
AOL CEO Tim Armstrong to be honored for pro-women Makers series.
Apple's former advisor to Steve Jobs admits brand screwed up iPhone naming system.Continue reading...
Posted by Dale Buss on April 5, 2013 09:01 AM
HP board shakeup and chairman exit gives CEO Meg Whitman a chance to shake off troubles.
BP faults Deepwater Horizon claims overseer, launches first brand-wide fuel loyalty program.
BMW prepares X4 crossover for U.S. market, makes vehicles greener with fewer cylinders, less gasoline.
Al Jazeera America hires CNN's Ali Velshi as anchor.
Amazon's Jeff Bezos leads $5 million investment round in Henry Blodget's Business Insider.
Apple reportedly signs music labels for streaming service as Google's YouTube clinches deal with Universal Music.
Best Buy may have turned the tide on showrooming Amazon.Continue reading...
Posted by Sheila Shayon on March 28, 2013 03:25 PM
J.C. Penney recently resumed its marketing strategy of raising prices, then discounting them on its private brands which include St. John's Bay, jcp and Stafford and Arizona, which generate more than half of the company’s overall revenue.
"While our prices continue to represent a tremendous value every day, we now understand that customers are motivated by promotions and prefer to receive discounts through sales and coupons applied at the register," JCP spokeswoman Daphne Avila told Reuters.
That means an Arizona crewneck T-shirt with an "everyday" price of $5 now has a $6 pricetag to accommodate a better markdown and arrive at the same price. The move is an effort to reverse a 25 percent drop in fiscal year sales. The practice is common in retail and used by rivals Macy’s and Kohl's.
“The company said that it has now realized that coupons and sales attract more customers and that this is the market trend,” writes Nautilus Investment Strategies on the reversal of CEO Ron Johnson’s earlier "no sale" stance. “Market analysts feel that at this point no strategy change is going to change the fate of the company as a large number of customers have already gravitated towards other retailers such as Target and Macy’s.”Continue reading...
Posted by Mark J. Miller on March 21, 2013 06:13 PM
Aeropostale is going hard after the Millennial market by using digital technology to attract young consumers.
After redesigning its stores last fall, Aeropostale is now adding in-store iPad kiosks as well as a new mobile app in the hopes that the Touchscreen Generation will fill up both their online carts and in-store baskets with their goods. "This is the future," said Jacob Hawkins, Aeropostale's vice president of e-commerce, according to Business Insider. "This is the way [teens are] going to interact with our brand."Continue reading...