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Fourth-quarter earnings season is finally starting to wrap up, and despite the sudden return of volatility to global stock markets, investors have plenty of strong new reports to consider in the coming weeks and days.
One thing investors are always looking for during reporting season is a plethora of earnings beats. Strong growth and positive consumer trends are always great, but investors want to see companies exceed expectations and post surprises.
Another thing to consider during Q4 report season is the importance of holiday shopping results within the retail sector. Much has been made about the death of brick-and-mortar retail, but in truth, many traditional companies are adapting to the times, while a number of specialty retailers have carved out their own pockets of success.
Regardless, the holiday season has the potential to make or break of retailer's fiscal year. Now that we are on the other side of the bulk of Q4's earnings announcements, we can see that several notable companies performed particularly well.
Today, we have decided to highlight a few of these great retail earnings reports. Check out these five retail stocks that recently crushed earnings estimates!
1. Aaron's, Inc. ( AAN )
Aaron's is engaged sales and lease ownership of residential and office furniture, consumer electronics, home appliances and accessories. The company just reported its Q4 results last week, posting adjusted earnings that surpassed our Zacks Consensus Estimate by more than 20%. Management also reported stronger-than-expected revenues and guided for fiscal 2018 earnings in the high end of our previous range. AAN's earnings beat was its fifth in the last six quarters, and the stock is now sporting a Zacks Rank #2 (Buy).
2. Advance Auto Parts, Inc. ( AAP )
Advance Auto Parts is a leading automotive aftermarket parts provider, serving both the professional installer and do-it-yourself customers. The company filed its Q4 report on Wednesday morning, reporting earnings that topped the Zacks Consensus Estimate by nearly 18.5%. Advance Auto Parts also reported revenues of $2.04 billion, beating the Zacks Consensus Estimate of $2.02 billion. Management has now notched two-consecutive positive earnings surprises, and AAP is currently holding a Zacks Rank #2 (Buy).
3. PetMed Express, Inc. ( PETS )
PetMed Express operates through 1-800-PetMeds, an online retailer that sells drugs for pets in its digital pharmacy. PETS reported its latest quarterly results last month, posting adjusted earnings of 44 cents per share and crushing our Zacks Consensus Estimate by more than 33%. The company also reported total revenues of $60 million, surpassing our consensus estimate of $58 million and expanding from the $53 million witnessed in the prior-year period. PETS is currently holding a Zacks Rank #1 (Strong Buy).
Want more market analysis from this author? Make sure to follow @ Ryan_McQueeney on Twitter!
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Lids U will serve as a one-stop shop for local college gear with offerings specific to each market it opens in
INDIANAPOLIS, July 25, 2022 /PRNewswire/ — Now a leader in sporting goods retail Lids announced the launch of Lids University (Lids U), a new retail concept dedicated to college athletic products and apparel. Created as a space for fans to shop for merchandise from their favorite schools, Lids U stores will open in major college markets and serve every local community in which they are located.
Lids U was developed in response to loyal Lids consumers seeking more NCAA merchandise from the retailer. The new concept will feature a strong assortment of NCAA merchandise with a curated selection of headgear, apparel and accessories from local, regional and national college and university teams. Lids U stores will open in malls and outlets in various states across the United States, with each store offering products unique to the market it serves. In each location, Lids will bring their sense of athletic style, offering a variety of collegiate team merchandise for fans and alumni, including men, women and kids.
“It’s an exciting time for Lids as we officially open a new store concept dedicated to college sports fans across the country,” said Lawrence Berger, co-founder and partner at Ames Watson, owner of Lids and chairman of FanzzLids Holdings. “We understand that our customers wanted to see more college merchandise in our stores, and we’re proud to now offer a space for consumers to shop the latest looks from their favorite college teams.”
Lids U stores will offer a broader assortment of college merchandise, but will continue to offer the immersive shopping experience of extensive licensed and branded merchandise that Lids has long been known for. They will also bear the signature of Lids Custom areas, which allow consumers to customize a product of their choice in-store. Stores will continue to carry apparel brands such as Nike, adidas, Under Armour, Fanatics, Retro Brand, Champion, Colosseum, Cutter & Buck, AntiguaMitchell & Ness, and more, as well as Wincraft, Tervis, Indigo Falls and headwear brands New Era and Zephyr.
Lids U marks the continuation of Lids’ commitment to providing college merchandise to fans, including the retailer’s presence on college and university campuses across the United States. Lids operates Fanatics Lids College (“FLCL”) which, in partnership with Fanatics, supplies clothing, hard goods and backpacks to nearly 800 Barnes and Noble College bookstores.
One of the first Lids U stores will open at the Gurnee Mills shopping center in Gurnee, Ill. on July 22, 2022. The store will feature merchandise representing popular schools in the area as well as nationally, including but not limited to Illinois Fighting Illini, Illinois State Redbirds, Loyola Chicago Ramblers, DePaul Blue Demons, Northwestern Wildcats, Southern Illinois Salukis and University of Chicago Maroons, Alabama Crimson Tide, Duke Blue Devils, Michigan State Spartans, Michigan Wolverines, Ohio State Buckeyes and more.
Lids plans to open approximately 11 more Lids U stores in 2022, with more to follow in 2023 and beyond. Lids U stores opening in 2022 include:
- Castleton Square (Indianapolis, Indiana)
- Gurnee Mills (Chicago, IL) – Opening 07/22/2022
- shopping center Georgia (Buford, Georgia) – Opening 07/22/2022
- shopping center Louisiana (Baton Rouge, LA)
- Peripheral shopping center (Atlanta, Georgia)
- Riverchase Gallery (Hoover, AL)
- San Marcos Premium Outlets (San Marcos, TX) – Opening 07/22/2022
- Tangier Outlets Gonzales (Gonzales, LA)
- Tangier Outlets Savannah (Savannah, Georgia)
- Tangier Outlet Charleston (Charleston, South Carolina)
- Tanger Outlets Mebane (Mebane, North Carolina)
Lids U is the newest store format in Lids’ ever-expanding global footprint, including team-specific stores with Yankees Clubhouse and Dodgers Clubhouse locations nationwide. Lids also counts the National Hockey League (NHL), National Basketball Association (NBA) and Paris Saint Germain (PSG) as partners, as it operates the respective US and international flagship stores for each league and team. To date, Lids operates nearly 1,200 stores across North America and Europe Lids continues to be the world’s largest specialty retailer of officially licensed and branded headwear with over 30 million hats sold each year.
Lids Sports Group is the largest licensed sports retailer in North Americaselling fan- and fashion-focused headwear and apparel across United States, Canadaand Porto Rico through nearly 1,200 points of sale. IndianapolisLids Sports Group, based in Lids, offers officially licensed and branded gear aimed at enabling customers to represent their unique and individual style, team, passion and enjoyment. Lids Sports Group operates stores under the names Lids, Locker Room by Lids, Fanzz, Yankees Clubhouse Shops, Dodgers Clubhouse, Cardinals Clubhouse and many other nameplates. Lids also has locations in select Macy’s department stores nationwide. To find a point of sale near you, visit blog.lids.com or join the #LidsLoyal on Instagram (@lids), Facebook (@lids), Twitter (@lids), or LinkedIn.

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Sep 19, 2018
— Typhoon Mangkhut is currently the largest storm in the world in 2018, and it’s impacting a region that is the center of manufacturing and shipping. The effects will be felt by industries, companies, and consumers across the globe.
Sep 13, 2018
— A freight train derailed yesterday near the Hams Hall hub in the UK, which will increase the pressure on inland container supply chains and haulage capacity already stretched to breaking point.
Sep 12, 2018
— China's coastal cities are booming with shipping and manufacturing, but there's a problem — they're running low on space, pushing some manufacturing and logistics hubs to nearby satellite cities and to that big land mass with people and plenty of area for development: The interior.
Aug 27, 2018
— Four ship-to-shore cranes at Oakland International Container Terminal (OICT) – the busiest terminal at the Port of Oakland – are 27 feet taller following completion this week of a year-long, crane-raising project.
Aug 23, 2018
— Technology’s role in logistics has never been bigger. JDA and EFT’s “2018 Global Logistics Report” pulls together responses from 313 logistics professionals to see which tech is having the biggest impact on their industry.
Aug 20, 2018
— Britain’s supply chains face a major skills shortage, and with the status of European workers post-Brexit still uncertain, the problem could intensify further still. Nearly 200,000 EU workers are employed in the UK supply chain and Freight Transport Association (FTA) head of skills Sally Gibson wants clarity on their situation post-Brexit as soon as possible.
Aug 14, 2018
— Despite record investment in airports, consignees and forwarders are poised for a frustrating peak season with the prospect of freight again being trapped in overburdened cargo terminals. Neel Shah, senior vice-president, global air freight, at Flexport, reckons the 2018 peak season will bring a sense of deja vu to the air cargo industry with a re-run of the woes that afflicted imports last winter.
Aug 9, 2018
— Railroads are capitalizing on the acute shortage of drivers in the trucking industry as capacity constraints limit truckers’ ability to compete on some long-haul deferred bulk freight. “Railroads look like big winners in the short term,” the recent State of Logistics report concluded, noting that this year is following a trend of rising carloads that began in 2017.
Aug 9, 2018
— Responding to a statement by the owners of the Port of Felixstowe that its recently introduced new terminal operating system (TOS) is now “stable”, BIFA director general Robert Keen said: “Our members still face significant problems at the port with shipping lines cancelling calls; or operating a cut-and-run policy, where the ship leaves before all containers that are booked are loaded, or discharged. Those members are also experiencing knock-on effects at other UK ports where vessels are being diverted, causing additional cost and disruption.”
Aug 9, 2018
— On Tuesday, Dubai-based DP World announced plan to acquire 100% of Unifeeder, the largest container feeder and growing shortsea network operator in Europe, for 660 million euros. DP World said the acquisition from Nordic Capital Fund VIII and certain minority shareholders will help enhance its presence in the global supply chain and broaden its product offering to its customers, namely shipping lines and cargo owners, helping reduce inefficiencies and improve the competitiveness of global trade.
Aug 2, 2018
— FedEx Express is enhancing its services into and out of the Vietnamese capital, Hanoi, with the introduction of a new flight connecting the city to the FedEx APAC Hub in Guangzhou, China. This new route will significantly improve transit times for all inbound flights to Hanoi, and enable next-business-day delivery within Asia for the first time.
Jul 31, 2018
— Various maritime management solutions are cropping up in the industry and help connect shippers, maritime carriers, and their affiliated partners, improving efficiency and visibility across the supply chain. Regardless of this, the industry continues to be bogged down by red tape and as the number of parties involved in a single transaction increase, stepping up the need for accountability is vital.
Jul 30, 2018
— Shippers are pushing forwarders for more certainty on post-Brexit customs – some now actively working with a presumption of a hard Brexit. Meanwhile, the UK Road Haulage Association (RHA) has slammed MPs claiming “no deal is better than a bad deal”, suggesting some foods we take for granted could become “luxuries”.
May 15, 2017
— Preliminary data from Drewry’s Container Trades Statistics (CTS) indicates that world container traffic surged by 10% year-on-year in the first quarter of 2017, fuelled mainly by spikes in imports and exports from China. The CTS numbers point to intra-regional trade as the primary driver of growth with volumes up by 17%, versus 7% for deep-sea traffic.
May 15, 2017
— Dubai ports operator DP World has confirmed that 10 people were injured in an accident involving a container vessel at the Jebel Ali port last week. The incident occurred when the vessel collided with the harbour wall at the port’s Terminal 1 on Thursday, May 4.
Dec 10, 2014
— The new and improved ILN Online Directory has launched. Now anyone can easily search for ILN member companies geographically or by name keywords, allowing IAM members, ILN members and the general public to find companies they can potentially partner with on logistics projects.
May 23, 2014
— IAM is pleased to report that those attending the first regional meeting of the IAM Logistics Network in Antwerp, Belgium, have pronounced it a success. With an ambitious agenda in hand, the 35 attendees representing 20 member companies spent more than two days immersed in the business of logistics.


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MoneyTree: VC deals dropping
Innovation | Minnesota
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More venture capital flowed into Minnesota companies during the third quarter, but the state is on track to see fewer total deals in 2012 than in past years, according to the MoneyTree Report.
So far this year, 18 Minnesota businesses raised venture capital. That compares to 35 deals during the same period a year ago, and 20 in 2010, according to the report, which is compiled by PricewaterhouseCoopers and the National Venture Capital Association using data from Thomson Reuters. Deal flow is down even compared to the depths of the recession. In 2007, for instance, 40 companies had raised capital by the end of the third quarter.
The drop is likely due to overall uncertainty in the economy, as well as declining investment in medical-device companies, said Mark Scholtes, a partner at PricewaterhouseCoopers’ Minneapolis office. During the third quarter, investment in medical-device companies nationwide dropped 37 percent to $434 million. It was the third consecutive quarter of declining investment in the industry. And med-tech companies routinely win most of the venture capital that’s invested in Minnesota. “Medical device is taking a beating nationally and we’re going to feel that locally,” Scholtes said.
Still, Minnesota device-makers continued to raise venture financing during the third quarter. Three med-tech firms — Torax Medical Inc., Apnex Medical Inc. and Tactile Systems Technology Inc. — accounted for about $50 million of the $83 million raised by the state’s firms during the quarter.
Also, the state saw venture investment increase even as it declined nationwide. Venture investment in Minnesota totaled $83 million during the third quarter, up from $49 million during the second quarter. Investment nationally fell to $6.5 billion during the most recent three-month period, down 11 percent compared to the second quarter. The number of deals dropped 5 percent to 890 during the same period.
Katharine Grayson covers med tech, clean tech, technology, health care and venture capital.
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Many of us have our doubts about lab-grown meat, also called cultured meat. Those doubts likely have their basis in our continued concerns over genetically engineered (GE) grains, which are altered to resist weed killers, specifically Roundup and its key ingredient, glyphosate.
The globalist technocrats are preparing us to accept lab-grown meat and other “franken-foods.” GE seafood will be possible in the near future. Look for dairy substitutes as well.
But the most concerning lab-produced product that is being developed is lab-produced breast milk, which is made using cultured breast tissue. A company called Biomilq is working quickly on this new “product.” Another company, Helaina, is working to produce glycoproteins “identical to those found in breast milk.” The company expects its product to be added to infant formulas and seniors’ nutrition drinks.
Biomilq investors include Jeff Bezos, Bill Gates, Mark Zuckerberg, Richard Branson, Jack Ma, and Michael Bloomberg.
The first Biomilq product is expected to reach the retail market in 3 to 5 years. Other products using lab-produced dairy ingredients include ice cream from Ben & Jerry’s sometime between 2023 and 2024.
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Furniture giant IKEA making masks to help you cure coronavirus
The very first batches for European healthcare facilities will be in transit
Many other businesses can also be working to help you tackle an acute shortage of medical supplies
STOCKHOLM, March thirty one: Furniture massive IKEA is creating face masks along with other protective gear for clinics, joining an expanding list of businesses branching from their regular business aspects to help you meet equipment shortages in the battle against coronavirus.
To have began with masks for employees in China in initial phases of the pandemic, the Swedish team is dealing with many suppliers to ramp up output of masks for overall health workers, and also hand sanitisers, visors and also single use aprons.
The very first batches for European healthcare facilities will be in transit, Henrik Elm, worldwide supply manager at brand owner Inter IKEA Group, that is in control of source, told Reuters.
Many other businesses can also be working to help you tackle an acute shortage of medical supplies, with vacuum cleaner company Dyson creating ventilators, fashion group Armani producing medical related overalls and spirits brand Ricard donating alcohol for sanitisers.
Working of home
IKEA has reopened all but one store in China, the place that the virus emerged, but across markets a vast majority of the 436 stores are temporarily closed.
Need for office furniture is keeping in place as numerous individuals are working at home in the problems, Elm said.
“The sales pattern is changing. One area just where we’re selling very well as opposed to others is office furniture. Everyone is working from home and they’ve identified requirements in the homes of theirs for it,” he stated in an interview.
“So, it (demand) is distributed differently – in several places we ensure that it stays up really well, in several we’ve a significant impact.”‘Well-prepared’ Elm said supply chain disruptions had improved with the spread of the disease to America and Europe, with closed borders or maybe limited movement a vital bottleneck.
ikea has managed to adapt, nonetheless, partially by dispersing inventories to warehouses in a few places, he stated.
“So far, we’ve noticed a restricted impact on the accessibility of our offer,” he said.
Elm said he anticipated zero shortages of various other materials or wood, like textiles and plastics, as worldwide need for such materials was in decline.
One particular area of concern, nonetheless, is identifying space to keep goods already in transit to markets where IKEA has temporarily closed a lot of the stores of its.
“There will be restrictions in coming days in harboring these goods. Warehouses are going to be a bottleneck,” he said. “Things that had been on the way of theirs we’re possibly re steering or perhaps storing.”
IKEA creates a tenth of items itself and also sources the remaining from vendors, mainly in Europe and Asia.
As other retailers and IKEA adjust to slowing consumer demand, lots of service and suppliers partners are struggling.
Elm stated IKEA was helping them with loans, swift invoice payments and help accessing government support packages.


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Home > Lifestyle > Women > Beauty
Thursday June 12, 2014 MYT 2:45:00 PM
Thursday June 12, 2014 MYT 3:47:33 PM
Russian tennis star Maria Sharapova is the new face for Avon. -- EPA
The Russian tennis star has been named as the face of the cosmetics brand’s new fragrances for men and women.
Two new fragrances for men and women, both titled Luck, are being fronted by the latest Avon lady, this year’s French Open champion Maria Sharapova.
“I am excited to represent Avon Luck, a fragrance that reminds us to savor and truly enjoy our triumphs,” said Sharapova. “I always say the harder you work, the luckier you are because you strive for bigger goals.”
Set to launch in Europe in September, North America in October, and Asia-Pacific in November the fragrances will be available via Avon representatives and online at Avon.com.
“As one of the top ranked tennis players worldwide, and a sophisticated natural beauty, Maria perfectly captures this sense of energy and possibility,” explained Patricia Perez-Ayala, Avon chief marketing officer. “She’s the ideal spokesperson for a fragrance that exudes happiness and a feeling of being on top of the world.”
Consumers can join the exclusive waitlist for the scents on the Luck minisite (avon.com/luck) to be the first to purchase Avon Luck for Her and Him. — AFP Relaxnews
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Forget about being insanely great, Apple's plans for a new spaceship campus are becoming insanely expensive.
Bloomberg Businessweek reports hearing from five sources close to the project that the budget for the new campus has surged from $3 billion when it was first proposed in 2011 to $5 billion now. That works out to be about $1,500 per square foot, according to Businessweek, which is more than most high-end office spaces.
The biggest costs are apparently the materials being used to meet the vision for the new campus that Apple's late co-founder and CEO Steve Jobs originally laid out in the summer of 2011. "As with Apple’s products, Jobs wanted no seam, gap, or paintbrush stroke showing; every wall, floor, and even ceiling is to be polished to a supernatural smoothness," Businessweek reports. "All of the interior wood was to be harvested from a specific species of maple, and only the finer-quality “heartwood” at the center of the trees would be used, says one person briefed on the plan last year."
The $5 billion price tag might not sound like too much for a company with a cash pile of well over $100 billion, but according to Businessweek, some of Apple's bigger shareholders are grumbling about whether it's the best use of Apple's money. When Apple's former CEO and co-founder Steve Jobs first presented the plans to the Cupertino City Council, the general perception from Wall Street to Main Street was that Apple could do no wrong. Now, a little less than two years later, the company's stock has crashed back below $500 a share and people are questioning whether it has another breakthrough product up its sleeve.
Apple, for its part, appears to be trying to avoid going too far over budget. Businessweek reports hearing from several sources that Apple has now pushed back the move-in date for the new campus to 2016 in order to work with lead architect Foster + Partners on finding ways to cut $1 billion from the construction costs.
Unlike some of the other things Apple has been criticized for in recent months, though, it's hard to argue that this is something that wouldn't have happened under Steve Jobs.
Image courtesy of Cupertino.org


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Dubai's $82 Million Casa Del Sole Mansion Overtakes Ambani's $80 Million Villa As Most Expensive Home
Nearly five weeks after Indian billionaire Mukesh Ambani’s Reliance Industries Ltd. turned out to be the mystery buyer of Dubai's most expensive house ever, another luxury property in the country has overtaken it to become the new most expensive house in the country.
The villa, called Casa Del Sole, fetched a massive 302.5 million dirhams ($82.4 million) when it was sold in July, according to its developer Alpago Properties. The firm declined to name the buyer, citing privacy concerns. The mansion was bought without a mortgage, as per Bloomberg.
The mansion, on Dubai’s Palm Jumeirah island, has become the most expensive home to be sold in the Persian Gulf emirate amid the city’s luxury property sales' surge. It has overtaken the $80 million beach-side villa that was purchased earlier this year by Reliance Industries for Mukesh Ambani's youngest son Anant Ambani.
The mansion is reportedly built on Frond G of the tree-shaped artificial island Palm Jumeirah, and stands on a stretch of land known as Billionaires’ Row.
Property prices have climbed in Dubai over the past year as the government’s handling of the pandemic and its liberal visa policies have attracted more ex-pats. In particular, the luxury end of the real-estate market has benefited from a slew of new government policies such as long-term “golden visas.” “We developed six villas and have nearly sold all of them,” Murat Ayyildiz, founder and chairman at Alpago Group said in an interview, as per Bloomberg.
Casa Del Sole, still partially under construction, will be completed in early 2023 and is set to have 8 bedrooms and 18 bathrooms.
And that's not all! The amenities will include a gym, cinema, bowling alley, jacuzzi and a basement car parking that fits 15 vehicles. It’s one of six villas developed by Alpago on the Palm Jumeirah, the report mentioned.
Also, sales of homes valued at 100 million dirhams and above have surged this year with 12 transactions compared to 5 in 2021, according to Prathyusha Gurrapu, head of research and advisory at Dubai's Core real estate firm.
“This has been a bumper year for Prime residential transactions overall,” Gurrapu said, as per the report. “If you look at transactions with values of above 10 million dirhams or above 20 million dirhams, pretty much all ticket sizes saw an increase in sales.”
For the latest and interesting financial news, keep reading Indiatimes Worth. Click here.


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Japan's central bank left its monetary policy unchanged Friday to keep plenty of cash flowing in the financial system and help the nation's fledgling recovery. The Bank of Japan decided at a policy board meeting to keep the amount of deposits that commercial banks leave at the central bank at a range of ¥10 trillion ($86 billion) to ¥15 trillion. Such a decision had been widely expected. Although Japan's fragile economic recovery is led by exports and has yet to spark domestic demand, the government has said the downturn has bottomed out and some signs of better times have appeared. The central bank has kept short-term interest rates at zero for about two years to help revive Japan's economy, which has been trapped in a slowdown for more than a decade. On Thursday, the government expressed concern that the dive on global stock markets as well as the weakening dollar have shed doubt on Japan's ability to export itself out of its troubles.
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Jun 25, 2020, 11:50 am238 ptsA Canadian biotechnology hemp company is entering an agreement with a Spanish company to produce and distribute a THC-free, high -CBG variety of the plant in Canada. Ottawa-based Cannabis Orchards’ partnership with Hemp Trading to get the hemp variety, called Panakeia, into the Canadian market comes after…
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All rumors these days are focusing on Apple's upcoming iPhone. Many have forgotten that it was Apple's tradition to annually host a Music Event in September to release the new iPod lineup. While rumour has it that Apple has delayed its Music Event for iPhone 5 release, it turns out the the next iPod touch update won't have any major hardware updates at all.
It can only be speculated as to how merely a new color will be helpful for Apple and its fifth generation iPod touch. Most people will definitely opt for black but there's a possibility that the white iPod touch can help sales as well.
On the other hand, it is being said that 2012 is the year in which Apple plans to bring a major update to the iPod touch. With new hardware and a new design, the iPod touch can very well be a best seller next year. Rumors also indicate the possibility of a 3G capable iPod touch.
So tell us, would you wait till 2012 for a new revamped iPod touch or are you happy with being able to buy one in white?


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Phishing Tool Builds Sites in SecondsMarch 8, 2008 – 6:55 PM
Software developers like to make installation of their programs simple and quick. So do hackers.
Analysts at RSA Security Inc. early last month spotted a single piece of PHP code that installs a phishing site on a compromised server in about two seconds, the vendor noted in its monthly online fraud report for June, released on Tuesday.
The code contains all of the HTML (Hypertext Markup Language) and graphics needed for the fraudulent Web site, which spoofed a financial institution that RSA did not name in the report. The “.exe” file automatically installs the code and graphics in the right directories, RSA said.
It means the hacker did not have to repeatedly access the compromised server to upload graphics or other code for the site, potentially reducing the chance of the computer’s security software or network software detecting something awry, RSA said.
“By using such kits, fraudsters will be able to further automate the process of hijacking servers and creating new phishing sites,” the report said.
It doesn’t bode well for combatting the problem of phishing, where hackers try to elicit passwords or financial information via look-alike Web sites.
Despite efforts to quickly shut sites down, phishing sites averaged a 3.8-day life span in May, according to the Anti-Phishing Working Group, which released its latest statistics on Sunday.
Data from market analyst Gartner Inc. released last month showed that phishing attacks have doubled over the last two years.
Gartner said 3.5 million adults remembered revealing sensitive personal or financial information to a phisher, while 2.3 million said that they had lost money because of phishing. The average loss is US$1,250 per victim, Gartner said.


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WESCO International, Inc. (NYSE: WCC) has announced that it has reached a Consent Agreement with the Competition Bureau of Canada (“Bureau”) regarding its merger with Anixter International, the company said.
As previously announced, the closing of the merger transaction with Anixter occurred on June 22, 2020 after the expiry of the applicable waiting period under Canadian competition law. WESCO has been working cooperatively with the Bureau to resolve outstanding matters, and the Consent Agreement involves a commitment to divest the legacy WESCO Utility and Datacom businesses in Canada, which had total sales of approximately USD 150 million in 2019.
The process to divest the businesses will commence immediately and will be completed as expeditiously as possible. The net proceeds realized from the divestiture of the businesses will be used to repay indebtedness.
WESCO, a publicly traded FORTUNE 500® company headquartered in Pittsburgh, Pennsylvania, is a provider of business-to-business distribution, logistics services and supply chain management solutions.


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Game Corps LLC is a Hub for Local Gamers: Community Gems
There's a place in Erie County that has a host of games to play and purchase. That place will be hosting a 12 hour long board game event this weekend.
John Gapinski can say his dream, came true.
"I would think to myself maybe one day I would actually open a game store of my own," said Gapinski. "Have a place for people to play and just be around other like minded people."
Gapinski opened Game Corps LLC in 2010. The business along Buffalo Road in Wesleyville is all about card-inspired board games.
"In the last 10 years or so the board game industry has really branched out," said Gapinski. "All these people that grew up playing these board games you mentioned, Monopoly stuff like that, they've had really creative ideas with the tools that are out there now they've been able to make new styles of play."
Like sci-fi, fantasy, and pop culture games. This board game haven has evolved as a place to play games, and buy them too.
"There was so many people who helped me, taught me how to play and I've been coming here every since," said William Gartner.
William Gartner starting coming to Game Corps a few years after it opened to the public.
An events calendar can be found on the store's Facebook page, as well as in the store. The calendar has information on events the store hosts, along with tournaments and leagues.
The biggest expansion of all is live streaming, done in the back of the store.
"We will take these popular games like Pokémon and Magic the Gathering and we will put up a live stream," said Gapinski. "Bring in a couple hundred people and if you purchase a pack from us we will open your pack right there for you live."
It's the same area where cards and other store items are shipped all over the U.S.
"A year ago I had been working the store by myself for the last 5 or 6 years," said Gapinski. "Seven days a week nothing but me now we have 11 or 12 employees and the live streaming has been an absolute boon or our company."
While John says you can be part of live streams, it all starts at the store.
"I foresee us having an even broader selection," said Gapinski. "More amenities for our customers."
The goal is to bring options to customers that support this local board game gem.
On Saturday from 10 a.m. to 10 p.m., Game Corps will host a 12 hour long board game event.
It's a monthly event put on by the group Erie Board Games. The event is free and open to the public.
Game Corps is located at 2920 buffalo Rd., in Erie. Parking is behind the store, and you can enter from the back.
Bring your own board game, play one of the dozens that will be brought by members of our group, or borrow one from the Game Corps library.
Don't worry about not knowing the games, everyone that comes is happy to teach what they brought.


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Restaurant Business Exclusive Content
After years of declines, McDonald’s plans U.S. unit growth this year
The Bottom Line: The company has not added locations since 2014. After closing another 239 locations in 2021 it has the smallest number of units in 20 years.
Are restaurants sleeping through a new labor crisis?
A big union's penetration of Starbucks after 30 years of failed efforts to organize restaurant chains has largely been shrugged off as one brand's problem, and a minor one at that. That under-appreciation could be a big mistake.


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Mar. 2—EAU CLAIRE — Fewer office and retail spaces in Eau Claire were empty at the end of 2020 than the year before, according to a new report from a local developer.
Commonweal Development recently released its annual market analysis, showing that the area's commercial and industrial real estate fared well despite the influence of the coronavirus on the economy.
"Although 2020 was a tough year for many regions, industries and businesses, the commercial real estate market in Eau Claire didn't seem to feel the effects of the pandemic," Commonweal stated in its report.
Of the 6.37 million square feet of retail space in Eau Claire, Altoona, Lake Hallie and the town of Washington, 12.84% stood empty at the end of 2020. That compares to a vacancy rate of 14.65% in 2019.
Stuart Schaefer, president of Commonweal Development, cited incidences of big box stores in the Eau Claire area that had been empty due to retailers who struggled prior to the COVID-19 pandemic now seeing reuse by other businesses.
"It wasn't a total surprise that the market was kind of stabilizing," he said in a telephone interview with the Leader-Telegram.
The defunct Younkers anchor store at Oakwood Mall became the new location of HOM Furniture last year. The furniture store's previous location didn't stay empty for long as Midwest Home Supply moved into the large building on Mall Drive.
Eau Claire's overall inventory of retail space did shrink last year with the demolition of Kmart, 2424 E. Clairemont Ave., which had been empty since 2015. However, a 95,000-square-foot Hy-Vee grocery store already is under construction at that site and set to open later this year.
While numerous office-based businesses had workers do their jobs from home during 2020 to prevent spreading COVID-19 in the workplace, companies did not move out of their buildings.
Last year, 8.1% of office space sat without a tenant — an improvement from the 9.4% vacancy rate from the previous two years.
Aaron White, Eau Claire's economic development manager, said he was pleasantly surprised that more workers telecommuting didn't result in buildings without tenants.
"There was concern there would be a significant uptick in office space vacancies," he said.
Two new office buildings went up in the area last year — Martin Dental in Altoona and Oak Park Dental in Eau Claire.
But there was a net loss of 16,219 square feet of office space last year due to buildings that were reclassified for another use or demolished. However, this only represented a 0.4% reduction in the Eau Claire area's inventory of more than 3.7 million square feet of offices.
The stable sector of industrial real estate did see a small rise in vacancy last year.
Less than 2.5% of industrial building space was empty at the end of 2019 in the Eau Claire area, but that rose to 3.4% in 2020.
Commonweal cited Phillips-Medisize's exit from the Eau Claire market as the main reason for the vacancy increase.
The developer notes Eau Claire's industrial vacancy rate remains below the Midwest and nationwide averages, which were both 5.6% in the latest report available from global real estate services company Colliers.
"With plenty of available land and the continued expectation of growth for e-commerce, Eau Claire's industrial sector should continue to trend upward in 2021 and beyond," Commonweal's report stated.
Commonweal uses public records, interviews with government officials and landlords, internal records and visual observations when developing its annual market report. The report's statistics do not include rental housing, hospitals, public buildings, auto dealerships, hotels, restaurants and self-storage facilities.
Last year's shrinking retail and office vacancies came while there was a dearth of new buildings created for those uses.
Schaefer said the lack of big building projects wasn't due to the pandemic, but fewer planned during preceding years.
"There wasn't a lot of activity in the pipeline going into 2020," he said.
The Hy-Vee grocery store, new offices being built in Altoona's River Prairie development and several other projects already publicly announced indicate this year will be better for new commercial buildings.
"There's more happening there than what happened in 2020," Schaefer said.
Though it doesn't track activity for financial institution branch buildings or stand-alone restaurants, Commonweal's report notes that there are plans already announced for Associated Bank and Royal Credit Union to erect new buildings, as well as construction of a Panda Express. Kwik Trip is also building three new locations in Eau Claire — two replacing defunct gas stations and the other an entirely new convenience store by Walmart.
White said some developers who had plans in 2020 did put them on hold, including an apartment building with first-floor commercial space planned for downtown Eau Claire. The city official did tie delays in that project to the pandemic, but said that and other buildings that had hoped to break ground in 2020 are now eager to begin construction this spring.
"A lot of those businesses are storming back right now," White said.


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Snapdeal has refuted charges against it regarding non-payment of dues to sellers in a statement today. A few months ago, about 40% of Snapdeal’s sellers, around 2,000 merchants had severed ties with the e-commerce major because of non-payment of dues.
According to a Times of India report, all of these sellers belong to the All India Online Vendors Association (AIOVA) and claimed that Snapdeal owed them close to Rs.300-400 crore. A spokesperson of AIOVA had then stated that these sellers would go back to using the platform only if the e-commerce giant resolved these issues and provided a written statement of assurance.
Following this withdrawal from the platform, AIOVA also wrote to commerce minister Nirmala Sitharaman requesting intervention to ensure Snapdeal paid its dues. This is the second such request to the minister from the Association. Further, it suggested the formulation of a regulatory body for e-commerce.
Earlier this week, AIOVA wrote to the commerce minister once more, in addition to the corporate affairs ministry asking for intervention on the upcoming Snapdeal-Flipkart deal.
According to several sources, Snapdeal’s largest investor SoftBank has been a proactive mediator between board members and very soon, a non-binding term sheet is expected to be signed by Flipkart, taking due diligence on the company it may acquire.
The Association stated that over 500 sellers still have pending dues with the homegrown e-tailer and if the merger were to ahead, they would lose all their money.
But in Snapdeal’s present statement, it refuted all charges against it and said that payments were made 6-10 times a month and sellers received their money within 3-5 days of their goods being sold.
Following so many charges, the e-tailer giant said that it is awaiting details in support of these claims from some sellers. Snapdeal’s Senior VP of Finance Operations Sanjay Agarwal said,
In these cases, sellers have so far failed to provide required justification for their claims despite multiple attempts by Snapdeal to facilitate these settlements.
Agarwal further added that these amounts are small and will get paid based on information provided by the concerned sellers and in accordance with their contracts and seller policies. The e-commerce marketplace has also claimed that the payments process has been sped up following the expedition of payment cycles for sellers.


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NHS launches sustainability strategy to help save £1bn
A new sustainable development strategy has been launched to help towards the £1bn of savings needed across the NHS supply chain by 2016, writes Edie.net.
The document reveals the “hidden” cost savings that can come from focusing on waste reduction and ethical sourcing.
The strategy document reads: “Making sustainable choices does not necessarily cost more and can deliver efficiency savings in how we do business. We have realised financial savings and cost-avoidance by optimising the efficiency of our own distribution network and supply chain.”


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The American Academy of Orthopedic Surgeons say many parents just don't know how to keep their kids safe when driving.
Read This Article
Honda starts production of the new 2015 Fit at the Honda de Mexico plant in Celaya.
In order to keep up with new technologies and to better protect older drivers and passengers, auto-safety regulators are planning to modify the rating system for new cars sold in the US.
The 2013 Honda Accord and 2013 Ford Fusion will be two of the coming year's best-sellers, and now you can play around with the automakers' online configurators and build your own.


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UAW strike expands again, as 8,700 workers walk off profitable Ford plant
Kentucky Truck Plant generates $25B in annual revenue
There are now 37,700 United Auto Workers members on strike, after 8,700 workers at a Ford Motor Co. factory in Kentucky joined the union’s strike Wednesday night.
The 2023 strike is a “stand up” strike, says UAW President Shawn Fain, because specific facilities are being targeted for strikes, not all facilities. As The Associated Press reports, the Kentucky Truck Plant is “the largest and most profitable Ford plant in the world,” building Ford pickup trucks and SUVs. Ford says the plant builds vehicles that generate $25 billion in annual revenue.
The strike started Sept. 15 at one factory of each Big Three automaker: Ford, General Motors and Stellantis. It has grown since. President Joe Biden walked the picket line with workers two weeks ago.
Workers walked off the Kentucky Truck Plant at 6:30 p.m. yesterday, after a reported meeting between Fain’s Ford bargaining team met and company leadership at Ford headquarters in Dearborn. The automaker agreed to bring electric vehicles under its master agreement, a concession which Fain hailed as a negotiation win with GM Friday, when he did not expand the strike. But Fain said Ford’s financial offer had not changed from two weeks earlier.
In a 90-second video posted to X hours after the strike, Fain explained the escalation, using Ford headquarters as his backdrop.
“They’re not taking it serious,” Fain said. “We’ve been very patient working with the company on this, but at the end of the day, they have not met expectations.”
Ford blasted the move.
“The decision by the UAW to call a strike at Ford’s Kentucky Truck Plant is grossly irresponsible but unsurprising given the union leadership’s stated strategy of keeping the Detroit 3 wounded for months through ‘reputational damage’ and ‘industrial chaos,’” the company said in a statement. “This decision by the UAW is all the more wrongheaded given that Ford is the only automaker to add UAW jobs since the Great Recession and assemble all of its full-size trucks in America.”
Michigan Capitol Confidential is the news source produced by the Mackinac Center for Public Policy. Michigan Capitol Confidential reports with a free-market news perspective.


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With the Met Office forecasting yet another heat wave – temperatures are expected to soar to 42 degree Celsius until October 21 in Karachi – health officials have issued a warning to people to take precautions to prevent heatstroke. These include using sunscreen, covering their heads and staying hydrated.
Given that recent research has highlighted a host of health benefits found in yoghurt, it is recommended that you have a helping of this ‘cool’ super food every day to stave off heat-related problems.
Nutritionists recommend substituting caffeine and carbonated energy drinks with a yoghurt smoothie to start the day. Or, if you are one of those people whose appetite is reduced in the hot weather, opt for a bowl of yoghurt – with the seasonal fruit of your choice to add flavour and nutrition – for an energy-packed lunch. Continue reading


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Boston-based NVBOTS began the year by revealing a few fairly big news for what was idea to be a computer desktop 3D printing company. The makers of the semi-automated NVPro 3D printing device had announced that they’d been working on a multi-metal 3D printing device. The details of the innovation were sparse, other than that it was not a powderbed innovation and that it was far cheaper than those technologies. Today, the company created another significant announcement that lends additional credence to their innovation: MIT Mechanical Engineering talent member and tech executive Dr. Michael Foley has joined the company’s Board of Directors.
Dr. Michael Foley
NVBOTS CEO AJ Perez says of the new member of the Board, “NVBOTS continues to acquire considerable-bodied traction in offering enterprise 3D printing solutions, unlike anything else on the market. Based on our current trajectory and multi-metal 3D printing focus, Michael is a immense asset to NVBOTS, given his deep producing and engineering expertise. His insights are invaluable-bodied.”
Dr. Foley, a well-respected engineer with 30 years of experience, has played an significant role in the producing and investment world. He previously served as the CEO of Reflexite Corporation, overseeing the production of reflective materials and energy saving optical components, preceding it was sold to German-based Orafol. Prior to that, Dr. Foley was the Group VP and GM for the Laboratory Products Group of Life Sciences International, that was and so acquired by Thermo Instruments. He has in addition held significant roles at Bausch + Lomb, as well as Draper Labs. Today, Dr. Foley acts as Operating Advisor with Artemis Capital Partners, Executive Advisor to Corning Incorporated, and is an investor in and Board member of companies like Hypertherm, Adcole, and others.
Dr. Foley said of the new appointment, “Driven by an extraordinary team of innovators and entrepreneurs, NVBOTS is breaking new ground in multi-metal 3D printing through being the just company able-bodied to print multiple metals in the same create and at high speed. The NVBOTS team is passionate of producing a difference in the world through 3D printing, and I am proud to partner with them as we embark on their future phase of growth.”
In our previous article on NVBOTS multi-metal printing innovation, a couple of readers were skeptical of the talent and practicality of such a system. The addition of Dr. Foley to the board, given his background in engineering and his business history, should assist put to rest a few of this speculation.
Correction 2/10/16: We previously posted a picture of the wrong Michael Foley and have since updated with the correct individual.


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Mindbody (MB) agreed to be acquired by San Francisco-based private equity firm Vista Equity Partners in a definitive agreement signed today. The technology platform for the fitness, beauty and wellness industries will be purchased for a total value of about $1.9 billion. Following this, the stock jumped over 67% in the premarket.
Mindbody said its shareholders will get $36.50 in cash per share as all its outstanding shares of common stock will be bought by Vista. The board of directors of Mindbody unanimously approved the deal and recommended the stockholders to vote in favor of the transaction.
The transaction is expected to close in the first quarter of 2019. This is subject to the customary closing conditions, including the approval of Mindbody stockholders and antitrust approval in the US.
Mindbody operates a cloud-based business management software and payments platform for the small and medium-sized businesses in the wellness services industry. The San Luis Obispo, California-headquartered company offers its software platform to its subscribers as a subscription-based service.
The company could seek alternative acquisition proposals as the deal transaction includes a 30-day “go-shop” period that permits the board and financial advisors to actively initiate, solicit, encourage and potentially enter negotiations with other parties.
And, Mindbody will have the right to terminate the deal when entering into a superior proposal. There can be no assurance that this 30-day “go-shop” will result in a superior proposal.
Qatalyst Partners is serving as the exclusive financial advisor and Cooley LLP is serving as legal advisor to Mindbody. Vista’s legal advisor is Kirkland & Ellis LLP.
In the recent third-quarter, Mindbody reported a wider loss due to higher operating expenses as well as an increase in interest expense. However, revenue jumped 37% as it delivered the highest average monthly subscription revenue for new subscribers. The company expected to grow its target market customer base, lift platform partnerships and expand its consumer brand into 2019.
Recently in mid-November, the company appointed Sunil Rajasekar as Chief Technology Officer, reporting to CEO and Co-founder, Rick Stollmeyer. Rajasekar had previously served as vice president and general manager leading engineering and product management for the seller experience at e-commerce giant eBay.
Shares of Mindbody ended Friday’s regular session down 4.57% at $21.72 on the Nasdaq. The stock has fallen over 28% in the year so far and over 48% in the past three months.
Visa Inc. (NYSE: V) reported first quarter 2023 earnings results today. Net revenues grew 12% year-over-year to $7.9 billion. GAAP net income rose 6% to $4.2 billion while EPS grew
Intel Corporation (NASDAQ: INTC) Thursday reported a decline in adjusted earnings and revenues for the fourth quarter. The semiconductor giant also provided guidance for the first quarter of 2023. Fourth-quarter
Shares of McCormick & Company Inc. (NYSE: MKC) were down over 5% on Thursday after the company missed expectations on its fourth quarter 2022 results and provided a lower-than-expected earnings


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What You Need to Know About Car Hacking
When you think about keeping your valuables safe from hacking, you probably think of your computer or your phone. These are no longer the only target. Today’s cars can have up to one hundred million lines of code and more connectivity than ever before. Just like with your home computer, this connectivity makes your car vulnerable to hacking.
Hacking Through Your Key
Modern car keys have a chip inside them. The car won’t start without a key that has matching programming. The result is a car that’s more secure, and can’t be started with old fashioned hot wiring.
There are hackers who have found ways to use this chip security against cars. A famous example comes from 2012. A group of security hackers found an exploit in chips from EM Microelectronic in Switzerland, who provided chips to dozens of different manufacturers. This exploit has been fixed, but discovering it pointed out that this new threat must be proactively countered by manufacturers.
Hacking through the Network
Most of the new cars on the road today have wireless connectivity of some sort, ranging from bluetooth cell phone integration to wireless internet hubs to navigation services. The same connectivity that brings all of this technology together can also open up a door to determined hackers.
The reality of this really came to light in the summer of 2015 with an article in Wired magazine. A pair of hackers demonstrated to a Wired reporter how they could hack into a Jeep Cherokee and control key systems, including the brakes or acceleration. Shortly afterwards other exploits were reported, including a hack that could stop the engine on a Tesla Model S, or one that used the GM connection app to unlock doors and start the car.
Manufacturers responded quickly to close these vulnerabilities within a matter of days, but the fact remains that it is possible to hack into cars through connectivity services.
How Much of a Threat Is Hacking?
All of this sounds scary and dangerous, but don’t worry. Truth be told, it takes a lot of effort, investment, and specialized knowledge to hack into a car. The key hack from 2012 required a coordinated strategy of electronically monitoring the car when it was started, such as being a valet driving or renting a car. Even before the loophole was closed, the chip stopped common car thieves, and only sophisticated organized crime could have pulled off the hack.
That difficulty means that hacking isn’t that much of a threat to the average person. Both the Jeep and Tesla hack described above require physical access to the car first, and expensive hardware. The fact is, there are plenty of easier ways to damage or manipulate a car. Hacking requires a big investment of equipment and time, and it’s just not worth it for most criminals.
That being said, manufacturers want to keep you and other drivers as safe as possible.
What’s Being Done About Car Hacking?
Just like with a computer network, the best defense against hacking is beefing up security and using higher-level encryption. Since hacking was first brought to the attention of car makers, the sophistication, security, and encryption have all been increased substantially.
That being said, errors do slip through on any product. Even tech giants like Apple will release products that have exploitable holes in their security. Once it’s found, Apple simply releases an update that closes the hole. The same is true with auto manufacturers. When they find holes, errors, or problems, they’ll issue software updates in the form of recalls. Drivers with affected cars simply bring their car into the dealer, have the software updated, then get back on the road.
Hacking is simply a reality of our modern networked lives, and that now includes cars. While it is a threat, it’s also one that is being actively countered, so you can feel safe driving your car.


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Yesway says 'yes' to more store brands
Yesway is making a big bet that convenience store shoppers want more private brands.
The fast growing C-store chain is adding Yesway Candy and Yesway Baked Goods to its private brand assortment. The retailer says the expanded product catalog reinforces Yesway’s brand promise to provide its customers with a terrific shopping experience with national brand quality products at value-driven price points.
“The response to our private label brand from our customers is terrific,” said Darrin Samaha, vice president and brand manager, Yesway. “The Yesway products are a tremendous hit with our customers. In Texas for example, our fried pies are flying off the shelves and we are working as quickly as possible to get more of them in stores to keep up with demand.”
The new own brand products include a variety of loose bag candy and baked goods such as fried pies, muffins and donuts, with eight to 10 SKUs in each category.
The retailer says customers participating in Yesway's Rewards program will reap more benefits and value from this phase of Yesway’s private brand launch in the form of a higher earn velocity on reward items, digital sampling, private label clubs and double points.
According to the company, it's looking at more categories to develop as private brand, including a full line of salty snack chips, meat snacks and an assortment of nuts and trail mix.
"Yesway’s private label products match or exceed national brand quality products, but at a much more compelling value,” said Derek Gaskins, Yesway senior vice president of merchandising and procurement. “In early 2019, our customers can look forward to continued growth and evolution in our private label offers as well as the Yesway Rewards Program. We view both as engines for our brand development and are excited about continuing to use both to drive customer engagement.”
Yesway formally launched its private brand assortment earlier this summer with Yesway Water.
Yesway operates 150 stores in Iowa, Kansas, Missouri, Oklahoma, Texas, South Dakota, Wyoming, Nebraska and New Mexico.


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NEW YORK –
Forget the #10yearchallenge and let’s focus on some sobering realities about how far fashion has come in one. One year ago, I had the privilege of hearing designers Stephen Burrows and Jeffrey Banks share their experiences presented by non-profit, Fashion For All Foundation (FFA). This year, a rainy and cold evening in Brooklyn didn’t stop an audience from gathering to hear CEO and President of The Council of Fashion Designers of America (CFDA), Steven Kolb, in candid conversation with FFA directors Hannah Stoudemire and Ali Richmond as a part of their guest speaker series.
The talk wasn’t the first time these organizations with social education initiatives overlapped. In 2016, FFA’s Stoudemire organized a peaceful protest outside in the summer heat in Soho while Fashion Week runway shows took place inside. Her “hands up, don’t shoot” photo that day was posted to Instagram by the CFDA with the caption: “An important reminder no matter how busy the week. #blacklivesmatter “ –a public acknowledgement from a gatekeeper on the inside of fashion when outsiders know all too well the complicit silence (rather than support) of their peers.
Steven Kolb expressed, “With social media, fashion has experienced a phenomenon” placing it at the threshold of global leadership. Ali Richmond reinforced that notion of the industry’s ability to set societal trends. “Fashion has the ability to lead. It’s everywhere. It’s in art, film, music, pop culture…” The parallels were chilling. It’s undeniable that what one wears can have ripple effects beyond red carpet knock-offs, including the assaulting power of a red MAGA hat. It can make identifying allies as simple as black and white.
“Doing the right thing and being business-minded do not have to be mutually exclusive. In fact, they can work in ways that are mutually reinforcing.”
-- INSIDER/ OUTSIDER REPORT 2019, CFDA
At American Fashion’s non-profit helm, the self-disclosed introvert Kolb is more than an ally. For all his initial biographical answers nodding to his personal experiences of otherness, he’s a responsible leader of action committed to positive change and fighting the good fight for fashion to be more than beautiful.
Indeed, the CFDA has made foundational strides with many initiatives for social progress including race, size, disability, sustainability, immigration, and gender wage gaps. They released the Insider/Outsider Report last month compiling statistics on diversity and inclusion. Kolb advocates the CFDA’s commitment “both as the governing body of American fashion and as an employer, with the mission to create an industry that is diverse, inclusive, and equitable.”
That awareness converts to action: In 2018, the CFDA crowned Pyer Moss with the coveted Vogue Fashion Fund Award. It has supported brands like Chromat celebrating positive body image. Even Kolb sharing his need to wear a hearing aid resonated with the Occupational Therapist and me who collaborated in the design education fellowship at Parson’s non-profit, Open Style Lab designing for disability (coincidentally, we had attended the Burrows/ Banks talk last year together too).
If only Fashion could mandate who gets to play in its pool and intellectual property protection for brave swimmers in its competitive waters. Kolb spoke to the difficulty the CFDA encountered in Washington D.C. citing a hurdle in convincing our leaders to see the global reach of an industry from the most remote artisan villages to powerful manufacturing hubs. Hopefully with more than a hundred Congresswomen paying homage to their cultural identities and the Women’s Suffrage movement in unapologetic style, that understanding of fashion’s power will improve. Until then, Kolb expresses gratitude for whistleblowers, such as Diet Prada who, “use shame and call that shit out.”
When audience Q&A followed the talk, a designer shared her own story of “mistaken identity”. Having been contacted to bring her garments to be reviewed in person, she arrived early. After being made to wait two hours for her interview, she was finally greeted with, “Oh, you’re black” and her portfolio subsequently questioned for plagiarism. It is a story known all too well: anecdotes collected from colleagues of being mistaken for the assistant, thrown under the bus at work as an affirmative action scapegoat, their presence required yet unacknowledged in department meetings, opinions ignored, and work summarily dismissed. It is a repertoire of painfully identical stories of disrespect both intentional and ignorant, but always absentmindedly said. It begs the question: Where’s the motivating prompt to participate inside this industry for those on the outside when this shameless behavior takes place?
The acknowledgement from Kolb without, as he said devolving into “drama”, what I would call the trap of Oppression Olympics, was the most poignant moment of the talk. His posture straightened on the stool to emphasize his belief: not only should companies seek out diverse talent and representation but it’s incumbent upon them to create environments that are sought out because they are truly welcoming and not passively tolerant. The CFDA is examining not necessarily who is included, but how those different price points and influence of respective brands at every level can be included. It’s demonstrating there is a place for anyone and everyone who makes fashion their vocation.


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Zerodha's profits to rise 12% in FY23; open to hiking intraday trading charges
Zerodha estimates its FY23 revenue at Rs 5459.2 crore—up by 10% from Rs 4962.9 crore in FY22. Previously, the company had recorded a jump of 81% in the same metric.
Tuesday March 28, 2023,
3 min Read
Zerodha is slated to clock a profit-after-tax of Rs 2,354 crore for FY23, a moderate rise of 12% from Rs 2,094 crore earned in the previous fiscal, according to a report by HDFC Securities. However, this jump appears diminished in comparison to the 86% bumper climb in profits in FY22.
Earlier, Co-founder and CEO Nithin Kamath admitted that the company would not be able to match its current revenue and profitability from FY23 onwards for a few years.
Its latest projections are attuned to Zerodha's business updates in December last year when the management noted that the company had “temporarily hit a plateau in terms of the target market”, besides a decline in new account openings and a slowing bull market momentum.
According to the report,estimates its FY23 revenue at Rs 5459.2 crore—up by 10% from Rs 4962.9 crore in FY22. Previously, the company had recorded a jump of 81% from FY21 in the same metric.
“Zerodha is slated to clock revenue/PAT at ~Rs 55 billion/25 billion (+10/12% YoY) in FY23E. Core revenue, at Rs 43 billion (net of pass-through charges), comprises brokerage/float income/other charges at 63/27/10%,” it said.
The brokerage firm witnessed a sharp moderation in average monthly demat additions at 1,40,000-1,70,000 (vs 3.2 lakh-3.5 lakh during 2020-2022).
“With a large overlap of customers opening multiple broking accounts in the industry, 65% (higher than pre-pandemic levels) of the additions at Zerodha are new-to-KYC customers indicating first-time investors,” the report said, noting the higher than industry levels.
Further, of the 12 million customer base, 6.5 million are NSE active clients, 2.5 million are overall F&O (Futures and Options) users, and 1.5 million are active F&O traders (at least once a month).
The top 35% of its customers contribute 70% of revenues, it added.
Although the KYC data on new demat additions suggests 65% of customers are coming from beyond the top 15 cities, the IP location of trading devices indicates that 70% of customers reside in Tier I cities.
“This suggests a large client base that has migrated from the smaller towns in search of job opportunities,” the report observed.
Open to increasing intraday trading charges
The report further suggests that the stock brokerage is open to considering a Rs 20/order on delivery trades or increasing intraday/F&O trading charges. Currently, only Groww and Upstox are charging such a delivery fee among the top four discount brokers.
“HSIE estimates suggest this can generate additional broking revenues to the tune of Rs 37 billion (68% of FY23TD revenues) at Zerodha,” the report noted.
Talking about the overall industry outlook, experts predict that broking revenues may witness growth moderation or de-growth with a lag if the customer dropoffs are not replaced by demat additions, which itself is witnessing a significant slowdown.
“A flattish or sharp correction could pose a threat to derivatives volumes,” it observed.
Edited by Kanishk Singh


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Farm boxes, new patrons: Flora finds ways to flourish amid pandemic
When faced with the closures of restaurants that buy much of their produce, two growers in Flora changed their way of doing business.
After COVID-19 began making the news in Mississippi, Salad Days Produce and Two Dog Farms shifted their sales to focus on providing consumers a safe, easy way to purchase fresh fruits and vegetables and other necessities.
They enlisted restaurants and growers in Flora and beyond to provide options such as sourdough bread and beef to provide consumers one-stop shopping.
Leigh Bailey, who with her husband, Jamie Redmond, owns Salad Days Produce that usually supplies lettuce grown hydroponically to restaurant and markets, came up with a plan by brainstorming with others.
“We were 90% restaurant sales,” she said. “Two Dog Farms was heavy on the restaurant side. We were forced to figure out something. Our lettuce was going full tilt.”
Farm boxes proved to be the answer.
Salad Days and Two Dog Farms began offering prepacked boxes of vegetables that consumers order and pay for online and pick up at low contact, drive-thru locations on specified days and times.
'Hundreds of people placed orders'
Two Dog Farms offers a Community Supported Agriculture plan for which consumers pay ahead of time and receive a weekly box of veggies but the farm boxes required a different tactic. Because a wide array of veggies was not ready to be picked, produce had to be secured by reaching out to other growers in the local area, throughout Mississippi and neighboring states.
Just how consumers would respond to the farm boxes was an unknown, but they did.
“It was like hundreds of people placed orders,” said Van Killen, who with his wife, Dorothy, owns Two Dog Farms. “We thought, ‘Now we have to figure out how to execute this.’”
Restaurants in Flora stepped up to help to Salad Days and Two Dog Farms.
The Flora Butcher, a specialty market, offered consumers the opportunity to order Raines Farm Wagyu Beef hamburger patties, ginger sage breakfast pork sausage and focaccia bread.
Railroad Pizza in Flora provided its signature salad dressings and homemade pimento cheese and Bill’s Creole and Steak Depot in Flora kicked in Bill’s Comeback Dressing for consumers who chose to order.
Bless This Food Catering in Flora baked sourdough bread, jalapeno cheddar buns and half a dozen cinnamon rolls for the farm box orders and Mississippi Bees in Flora supplied honey for consumers who wanted it.
David Raines, an internationally known chef and owner of The Flora Butcher, said he was happy to be a supplier of add-ons for the farm boxes.
“The boxes are a way to team up and make the best of the situation,” he said. “We’re happy to help and keep everyone busy. When we put bread in boxes that means our bakers come in and make bread.”
After several weeks, Bailey created bundles of items of items as a way to give consumers incentive to place orders.
“I came up with a Greek bundle,” she said, “everything you needed to make Greek salad. And we’ve got a BLT bundle. I change it up every week so people don’t get bored with it.”
Flowers, tomato plants and herbs were also offered as add-ons to the farm boxes, providing consumers who didn’t want to venture out to nurseries the opportunity to purchase plants.
Two Dog Farms and Salad Days plan to continue to offer farm boxes as long as consumers are receptive and they can supply the needs of restaurants when that part of their business begins picks up.
“As long as it’s sustainable we’d love to keep offering the boxes,” Bailey said.
Killen said he’s seen customers who have purchased from the farm before but not in a while and gained totally new customers as well.
Enviable culinary scene for a small town
Bailey said Flora is a tight-knit community and the way fellow business owners stepped in was just another example of that.
Cheryl Welch, a resident of Madison’s Annandale subdivision for 25 years, orders a farm box from Two Dog Farms every other week.
“I like Two Dog Farms and their farm box and the other things you can add on to your order,” she said. “I haven’t been to Bless This Food Catering but I’ve been ordering their sourdough bread as part of my farm box.”
Welch remembers when she had little reason to go to Flora because the downtown was empty, but that’s no longer the case.
“I’ve been a big supporter of The Flora Butcher,” she said, “because of the meat and the quality of it. It sells Salad Days lettuce, and I like that, and occasionally I’ve picked up a frozen casserole there.
For the record, Welch is also a fan of the U.S. Post Office on Main Street in Flora, which she touts for its friendly, helpful service.
For a small Mississippi town, Flora has an enviable local culinary scene.
The Blue Rooster, which Garden & Gun included on a list of noteworthy burger places, and Bill’s Creole and Steak Depot anchor one end of the downtown.
Clay trolls and dragons:Madison artist's creatures come with a sense of humor
On Main Street, The Flora Butcher draws customers with its premium meats and Mississippi products. Railroad Pizza Co. serves praiseworthy pizza and Cotton & Tumbleweeds, a multivendor shop with vintage finds and home décor operates its own coffee shop that serves breakfast sandwiches prepared by The Flora Butcher.
Near U.S. 49, Salad Days Produce works its magic with lettuce and neighboring Two Dog Farms produces dozens of varieties of vegetables, many of which end up served by restaurants from New Orleans to Destin, Florida.
The Cotton Exchange Plaza on U.S. 49 strip includes Bless This Food Catering, Los Molcajetes Mexican restaurant, Penn’s Restaurant and Pizza Hut. Also on U.S. 49 is Subway, which is located at an Exxon station.
Not to be overlooked is Sullivan’s Grocery, which sells blue plate lunches, and Town and Country restaurant.
Affordable property, location spur growth
Just how did Flora – population 1,850 as of the 2010 census – end up with such a local food scene?
Affordable property was a starting point. “All of these people wanted to own their own business and were looking for a place to land,” said Les Childress who has been mayor of Flora since 2009.
Also helpful: Growth in the number of subdivisions in Flora and the surrounding area, basic city services and close proximity to Madison and Jackson.
Growers such as Salad Days and Two Dog Farms and its restaurants are a natural fit with local honey producers, goat farms and cattle farms, Childress said.
“It all ties in together,” he said. “It’s kind of a little Mayberry.”
Bailey and Redmond spent countless hours searching for the perfect location for Salad Days.
“It took the better part of two years,” Bailey said, “and both Jamie and I had been career real estate brokers.”
They found 16th section land in Flora to lease where they could place greenhouses and went to work. They recruited another producer.
Bailey and Redmond met Killen at the Mississippi Farmers Market on High Street in Jackson and learned he needed land to expand his operation. Salad Days had unused land available and Two Dog Farms became a neighbor.
Raines found his way to Flora thanks to a friend, who was a contractor, and opened in the summer of 2016.
“The price per square foot drew me,” he said, noting that he was familiar with Salad Days from when he was chef de cuisine at Seafood Revolution in Ridgeland.
Meredith Carter and her husband, Wes, opened Railroad Pizza in September 2016, and they’ve watched Main Street improve since then.
“We have a really cool Main Street,” she said. “It’s going nowhere but up. We’re in it for the long haul. It’s our passion to bring good food to Flora. We love our town.”
Ryan Stringfellow, owner of the Blue Rooster that opened in 2008, describes his restaurant as “nothing spectacular or fancy, just a small-town burger shop.”
The restaurant draws people from Jackson who don’t mind a drive for a burger and visitors from other countries who are touring Mississippi. “We have a book here and get them to sign,” he said.
Ryan said he encourages visitors to check out the town and he welcomes new restaurants because it’s good for his business.
“Every time a new restaurant comes to town, we get busier,” he said. “If there’s not room at one, people will try another one.”


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Berlin: Fresh from a massage, the cows turn slowly on a computerised "milking carousel" -- everything is ready at the Heideland farm south of Berlin to ramp up production once European milk quotas end on Wednesday.
"Look how well we treat them, all the space they`ve got, and here they even have a massage machine," says Richard Reiss, head of the giant farm of 1,200 dairy cows.
Dairy farmers like Reiss in Germany, Europe`s biggest milk producer, are happy to see the back of the production limits that have prevented them from exploiting the export opportunities offered by the rising middle classes in Asia.
"As soon as we heard that Brussels was considering scrapping the quotas, we started thinking about how to respond," says the red-faced septuagenarian.
"Since 2012, we`ve done nothing but prepare for this," adds Reiss, saying that 8.0 million euros ($8.7 million) have been invested in the past two years to increase efficiency and the potential to ramp up output.
That includes the highly automated "milking carousel" that allows the cows to be milked three times per day instead of the normal two, and methane-capturing systems to generate energy for the farm.
The race for productivity includes pampering the cows a little -- passing along a spinning brush at the end of a metal arm a couple of times appears to make them happy.
And so are German farmers now that the production limits are history.
"We`re happy the quotas are being scrapped. We`re prepared," says Karl-Heinz Engel, president of the German dairy industry association, MIV, insisting that the sector is "export-orientated and competitive".
That is a fairly optimistic stance compared with, for example, farmers in France, Europe`s second-biggest supplier, who invoke doom-and-gloom scenarios of oversupply and falling prices.
But in Germany, the industry views the scrapping of the quotas, introduced in 1984 to prevent over-production, as a "chance and an opportunity".
In fact, the regime has effectively been ignored in Germany anyway.
In 21 out of the 30 years that the quotas have been in existence, Germany has produced more than its annual allocation, preferring to pay two billion euros in penalties instead. At 32 million tonnes in 2014, Germany is the EU`s biggest dairy producer. But like other countries, such as Ireland, the Netherlands and Denmark, it is readying to raise output.
MIV is forecasting annual production increases of 1.0-3.0 percent until 2020, with the upper end of that target range representing an increase of nearly 20 percent over the entire period.
The Netherlands is planning an increase of a similar magnitude.
Normally, increasing output pushes prices down -- farmers already receive no more than a paltry 0.28 euro per litre.
"Twenty-eight cents is the equivalent of being on life-support. I`m for a price of, say, 35 cents," says Reiss.
But the industry is confident it can find buyers for the additional output at reasonable prices.
Dairy farmers have invested heavily in new capacity, "above all in milk powder and in cheese" production according to Monika Wohlfahrt, head of the ZMB Dairy World market information company.
Reinhard Vogel-Lackenberg, of the Deutsches Milchkontor (DMK), said the dairy has invested 500 million euros over the past five years in new production lines for cheese and pasteurised milk.
DMK is one of Germany`s biggest dairies, buying 6.7 million tonnes of milk from farmers per year, or more than a quarter of the country`s total production.
"The European market is finite," so DMK is eyeing exports to Asia, and the Middle East and other countries "where an increasingly affluent middle class is prepared to pay for quality dairy products," says Vogel-Lackenberg.
DMK has already set up commercial offices in China and Dubai.The weakness of the euro against the dollar should add extra impetus to German farmers` export ambitions, said Wohlfahrt at ZMB, even if, for now, the crisis in Russia is complicating matters.
Russia is one of the biggest customers of cheese made in Germany, but it has banned all imports from the EU since last year.
Germany will not be alone, either, in setting its sights on overseas markets, experts cautioned.
"There are some very strong international competitors," concedes Vogel-Lackenberg, pointing to Ireland for instance.
Those producers that are not as rich and powerful as DMK, particularly smaller operators serving niche markets, "will have to fight hard," warns Rene Kramer, dairy chief at the German cooperative association DRV.
But farmers will be looking to increase output wherever they can.
One farmer in northern Germany, Hans-Hartwig Ketels, refuses to be ruffled.
"We don`t have a lot more farming land in Germany," he says. "That will put a lid on output increases and ensure prices remain at an acceptable level."
Ketels has invested in new facilities and is looking to increase his herd of dairy cows from 230 to 300 by October.
"But it`s possible that the next one to two years will be complicated," he acknowledges.


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September is usually
the month when Apple announces new iPhones, but this year is different.
The tech giant has
announced that its new event will be held on September 15th along
with an interesting tagline “Time Flies” – possibly a new Apple watch?
The event is taking
place rather late, but we’re assuming that these delays are occurring due to
the ongoing pandemic. Apple has also confirmed that it wouldn’t be shipping the
new phones in September. This event invitation, however, is pretty cryptic as
we’re not sure what to expect.
We’ve not been given
any specifications, but we have been told that an announcement for its new
lineup of hardware might be just around the corner. The Fall line might include
new phones, the Apple Watch Series 6, an updated iPad Air, and possibly a
The tagline indicates
that priority would be given to the Apple Watch, and why shouldn’t Apple put the
spotlight on the rumored blood oxygen monitoring and sleep tracking device?
Apparently a cheaper replacement for the Series 3 model is also expected.
If we review the
YouTube page for Apple, we may realize that the company is hinting at a new iPad announcement, too!
This is what we know so
far: Apple will announce four new iPhones by the end of this year along with
ARM-powered Apple silicon Macs. Again, the details will be revealed much later.


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Harold Import Company (HIC) is debuting several new baking tools. The products made their debut at the Atlanta Market, and will also be on hand for the summer edition of the Las Vegas Market.
Meyer Corp. U.S. has named Christopher Banning managing director of the company, as of June 1. Banning, said company officials, will be responsible for all sales, marketing, and operational departments for the U.S. and all Latin American countries. He will report to Stanley Cheng, the company’s chairman and chief executive officer.
Showa Denko K.K., a Japanese conglomerate and parent company of Chicago-based GMM Nonstick Coatings, has acquired all shares of the ILAG Group. ILAG is a specialty non-stick coating chemicals manufacturing company headquartered in Zurich, Switzerland.
Casafina will be bringing a clean, modern approach to bakeware to the market this year. The company is planning to debut its Forma bakeware line, as well as complementing serveware.
The Oneida Group has named Frank Biller as national sales manager for its Anchor Hocking food service business. The move comes as the company reintroduces and seeks to grow its glass-focused food service business following the divestiture of the Oneida food service lines earlier this year.
Chicago Metallic, a subsidiary of Lifetime Brands, is tapping into the consumer’s increased focus on versatile bakeware. The company is combining the increased use of bakeware for savory and healthy meal solutions as well as the consumer preference for durability and quality.


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Airline Fees: The Naked Truth
Airline fees remain a “pain point” for many travelers, and the pain is getting worse. Despite all the focus, however, you still see some public confusion. The latest exhaustive report (104 pages!) from IdeaWorks presents a good starting point for a dispassionate assessment of the realities and myths of airline fees.
Bonus income for airlines
The Irish Times
Ancillary revenue is becoming more and more lucrative for airlines, with $40.5 billion collected by 67 airlines last year, from baggage fees, food, shopping, hotels, car rental, and frequent flyer incentives.
US airlines lead in driving ancillary revenue
Travel Weekly UK
A total of $40.5 billion was made in ancillary revenue, comprising 8.7% of total sales, by 67 airlines covered in a new survey. Revenue from ancillaries delivered $6.2 billion for United Airlines, represented 36.4% of sales for Wizz Air, and $51.80 per passenger carried by Spirit Airlines in the US. The study covers airlines that disclosed revenue in 2015 financial filings from activities such as frequent flier miles sold to partners, fees for checked bags, and commissions from car rentals.
Domestic Airlines add tailwind to ancillary business
The Business Standard – India
According to a survey by US-based consultancy firm IdeaWorks Company, airlines globally earned $26 billion in ancillary revenue in 2015 with US carriers United, American and Delta topping the list. According to the survey, US-based low-cost airline Spirit earned about 43.4 percent of all its revenue from ancillary sources, followed by Allegiant Air and Wizz Air, which earned 37.6 percent and 36.4 percent, respectively, of their revenue from ancillary sources
Airfare price revolution
The West Australian
In its first annual report on the subject, Ideaworks in 2008 estimated airlines around the world were charging an estimated $US13.5 billion a year in ancillary extras. By 2015, that figure had soared to $US59.2 billion, a rise of nearly 450 per cent, with the figure still increasing by around 20 per cent a year. But now, with the oil price below $US50 a barrel, there’s no going back to the old system of inclusive fares. Airlines have sold a la carte pricing to their customers as increasing choice and, in America, customers have responded by awarding airlines with the highest ancillary revenue rates the highest profitability and growth.
Ancillary revenues on the up
Jay Sorensen charts the growth in ancillary revenue rates for airlines and what it means for the future. “My organisation, Ideaworks published the first ancillary revenue review of top-performing airlines back in 2008. The top ten airlines generated $8.4 billion that year. Fast forward to 2015 and the top ten tally has leapt to nearly $26 billion. This group is now a billion-dollar club with annual ancillary revenue from $1billion to $6.2 billion − which was top carrier United’s total
Airfares Are at a 7-Year Low, but Are You Getting a Deal?
US News & World Report
As Jay Sorensen, president of travel industry firm IdeaWorks, puts it: “I think consumers are getting a very good deal. And so are airlines.” When you look at the price of airfare over time, it’s a good value to the consumer. Unlike the years of economic strife for airlines in the wake of the terrorist attacks of Sept. 11, 2011, the industry’s profits continue to climb, enabling investment in improved products and aircrafts.
Ryanair’s ancillary revenue hits record level
Ryanair generated the sixth highest revenues globally from non-flight ticket items in 2015, according to a new report, which shows the top 10 world airlines pulled in almost $26bn (€23.6bn) in ancillary revenues during the year. In a newly published list of the top 10 ancillary revenue generating airlines from aviation research group IdeaWorks, the Dublin-based carrier ranks ahead of the likes of Lufthansa, Qantas, and EasyJet and is only dwarfed by US giants United Airlines, American Airlines, and Delta.
Analysis: Is the golden era of frequent-flyer benefits over?
Buying Business Travel
Social media comment from travellers who opt for the lowest fares and get the least rewards has, predictably, been highly critical; those with elite status who pay higher fares and get the best rewards, less so. But as the global airlines have shown with their egregious pursuit of ancillary fees, they’re very much focused on increasing revenues. Total ancillary fees levied by the world’s airlines last year reached a record US$59.2 billion according to the consultancy IdeaWorks, with US airlines alone accounting for a third of this revenue stream.
American and United Ready No-Frills Fares to Take on Discounters
Stung by competition from ultra-discount carriers, American Airlines Group Inc. and United Continental Holdings Inc. are striking back with cheap, no-frills tickets of their own. The strategy carries risks for the legacy airlines. American, United and Delta dominate the U.S. and have alliances with global carriers, advantages that would seem to negate the need to compete for the most price-conscious customer, said Jay Sorensen, a former Midwest Airlines executive who is now president of airline consultant IdeaWorksCompany.


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Nordstrom on Thursday reported fourth quarter net sales increases of 2.4% to $4.24 billion, from $4.14 billion in the year-ago period, though same-store sales decreased 0.9%. Q4 earnings per diluted share were $1.15, and when excluding the fourth quarter tax effect of the Trunk Club goodwill impairment, adjusted earnings were $1.37 per diluted share.
Over the full fiscal year, Nordstrom's e-commerce sales climbed past $2.5 billion, representing approximately 25% percent of full-line sales, and its off-price Nordstrom Rack unit — now the company’s biggest source of new customers — increased sales 11% to $4.5 billion, driven by 21 new store openings and 32% online growth. Nordstromrack.com/HauteLook sales reached $700 million, generating more than 15% of off-price sales, the company said, adding that the year’s sales reached a “record $14.5 billion” all told, aided by increased productivity.
Nordstrom also experienced significant benefits from its expansion into Canada, where it now runs five full-line stores, including two in Toronto that opened last year. Those stores contributed $300 million in total sales, and Chief Financial Officer Michael G. Koppel told analysts Thursday that Nordstrom believes the Canadian market “represents a $1 billion opportunity consisting of six full-line stores and 15 to 20 Rack stores.”
Nordstrom remains an comparatively robust department store, racking up decent sales numbers and maintaining a reputation for appealing merchandise and superb customer service. But “racking” is also part of the problem, because the retailer’s off-price Rack stores are providing most of its fuel for sales as well as for new customers, and that trend looks to be eating into its full-line business, according to GlobalData Retail managing director Neil Saunders.
E-commerce growth is also keeping existing customers out of full-line stores, Saunders noted in an email to Retail Dive.
“Nordstrom ends is fiscal year as a company of two halves: the mainstream business, which is struggling to grow; and the off-price business which, overall, is motoring along nicely," he said. "This bifurcation is not caused by design, but rather by dynamics in the marketplace which are driving the contrasting fortunes. Of course, these two businesses do not exist in isolation, and there is an argument to be made that the expansion of an off-price concept has damaged the mainstream division. There is some evidence for this and our own data show a degree of customer sharing. However, we also hold the view that while Rack may have contributed to some of the declines seen at full-line stores, Nordstrom would be in a far worse position without it.”
Nordstrom has secured a grip on many of its expenses and gotten a handle on inventory, allowing a pullback on discounts, CFO Koppel told analysts Thursday. “In 2016, we made significant progress in improving our productivity, particularly around technology, supply chain and marketing capabilities,” he said, according to a transcript from Seeking Alpha. “Over the past five years, spending in these areas grew by 20% on average. In 2016, we were able to bend that trajectory, cutting the growth in half.”
Co-president Pete Nordstrom also told analysts that the controversy surrounding the company’s decision to forgo sales of the Ivanka Trump brand — which prompted a tweeted slam from her father, President Donald Trump and a calls for competing consumer boycotts — has had a “negligible” effect on traffic or sales, for better or worse. “I think it's not really discernible one way or the other,” Nordstrom said.


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An international shopping center association called it the “weakest holiday season since at least 1970.” In New York, that translates to a C- grade.
Sales results released Tuesday by international and state trade groups confirmed what many half-empty mall parking lots and 70 percent discount stickers had hinted at throughout the holiday season: that what is usually retailers’ busiest time of the year had turned into a five-week slog. And in New York, while the season ended anticlimatically, it at least had what the Retail Council of New York State called a “modest end.”
New York retailers’ last-ditch effort to save Christmas paid off as they unleashed an arsenal of deep discounts to combat crippling back-to-back weekend storms and a recession. Fifty-one percent of retailers statewide reported week-before-Christmas sales were the same or better than a year earlier, compared to 52.5 percent for the same period of 2007, according to the Albany trade group’s Holiday Sales Watch report.
However, only 48 percent of merchants said after-Christmas sales were the same or better, compared to about 75 percent a year earlier.
“A perfect storm of a growing recession, plummeting consumer confidence and ill-timed winter snow and ice produced a generally gloomy holiday selling season,” said Retail Council President and Chief Executive Officer James Sherin said.
Although retailers entered the holiday season expecting soft sales, many were surprised by a stronger-than-expected turnout for the Black Friday weekend. But that early optimism waned as recession-shocked shoppers wrapped up their shopping plans early instead of just getting started during the season’s opening weekend. In all, New York retailers gave the five-week period a C- grade, down slightly from last year’s C+.
The International Council of Shopping Centers also reported that U.S. chain store sales for the week ending Dec. 27 declined over the year by 1.8 percent, following the previous week’s slump of 0.6 percent. The New York trade group chief economist, Michael Niemira, called this year’s holiday season was the worst one in at least 38 years.
McNiera’s statement appears to dash an earlier forecast from the National Retail Federation. Prior to Black Friday, the New York trade group predicted this holiday season’s sales growth rate would fall to 2.2 percent, the lowest rate since 2002’s 1.3 percent increase. The season’s 10-year average increase was 4.4 percent.