Posted by Dale Buss on December 10, 2013 09:15 AM
Abercrombie & Fitch renews contract with CEO.
Boeing holds tax-breaks "bake-off" between states.
Chobani enters Super Bowl for first time.
Dr Pepper Snapple smells trouble with sewage in Houston.
GM names Mary Barra, industry's first female CEO, to succeed Dan Akerson, report says, while US loses $10.5 in bailout, which a study calls a financial success; meanwhile, company vacillates over ending Australia operations.
Jeep partners with NBCUniversal for Cherokee.
Kawasaki plants marketing seeds for '14.
Kia launches new Red Zone sub-brand for tuners.
Lululemon names new CEO as founder steps down as chairman. Continue reading...
Posted by Dale Buss on December 4, 2013 04:43 PM
Sometimes it seems like almost no one likes Abercrombie & Fitch anymore, and the chain's sliding sales and brand equity reflect that. Now there's an important someone who doesn't like Abercrombie CEO Michael Jeffries either.
Activist investor Engaged Capital has just asked the Abercrombie board to start looking for a replacement for the embattled Jeffries, whose employment contract expires Feb. 1, according to the Wall Street Journal. The fund also suggested that maybe the Abercrombie board might want to go ahead and sell the company to a private-equity buyer as "the best option for shareholders."
The new pressure comes at a difficult time for Abercrombie & Fitch, which may finally be jumping the shark. It posted nearly $12 million in losses for the nine months of 2013, with sales down more than 7 percent. And it's facing a hostile environment this holiday shopping season with such a heavily promotional edge to most apparel retailing.Continue reading...
Posted by Dale Buss on November 21, 2013 09:21 AM
Chrysler eyes December IPO.
LG investigates "unauthorized spying" claims.
Microsoft builds line of products, apparel around "Scroogled" marketing campaign.
Abercrombie & Fitch reports loss on weak sales.
British Airways fields billboard ads that interact with planes overhead.
CCTV grapples with ad slowdown in China.
Foursquare opens up home screen to big brands.
IKEA is investigated in France for labor issue.
McDonald's plans no national launch for McRib this year.
Mondelez invests $100 million in Czech biscuit plant and expands presence in Pakistan.Continue reading...
Posted by Sheila Shayon on November 7, 2013 02:57 PM
And so the saga of out-of-touch retailers continues.
After a rousing few months of PR lows, teen outfitter Abercrombie & Fitch and yogi cult clothier Lululemon still have some gas in their engines. The purveyor of $90 stretch pants has largely recovered from its March "sheer pants" issue, with sales—and poor judgment—back at normal levels. A&F, however, has had a rougher go at it since the brand was thrust into the spotlight in May over some ill-advised comments from CEO Mike Jeffries that brought to light the brand's 'cool kids only' culture.
The consumer outcry over Jeffries' old comments—"A lot of people don’t belong [in our clothes], and they can’t belong. Are we exclusionary? Absolutely."—only added wood to the fire that was A&F's falling sales. The company netted its seventh quarterly consecutive loss in same-store sales this week, resulting in an overall 30 percent devaluation in 2013. And after months of trying to put a band-aid on the brand damage, A&F announced that it will begin stocking more styles and larger sizes of its women's tops by spring and even start selling shoes and accessories in a bid to woo back teens that have defected to trendier retailers like H&M and Forever 21.
In an age where inclusiveness is the key, A&F's preference for the “all-American kid(s) with a great attitude and a lot of friends," could be called downright archaic. Outright ignoring the flourishing plus-size industry, the retailer previously only carried up to a size large for its women's clothing, while rival American Eagle, as well as H&M and Forever 21 produce XL and plus-size lines.Continue reading...
Posted by Dale Buss on November 7, 2013 08:20 AM
Twitter prices IPO at $26 for today's launch.
Abercrombie & Fitch will increase styles, sizing to improve sales.
Nestle sells Jenny Craig.
Amazon offers olive branch to independent bookstores.
Bitcoin hits all-time high.
Facebook debuts new like and share buttons.
Fiat says Italy car market shows no signs of recovery.
Rob Ford, Toronto mayor, admits to using crack cocaine—while wearing an NFL neck tie.
GM expands online Shop-Click-Drive program nationwide.
Google is ordered to remove sex images by French court.Continue reading...
Posted by Dale Buss on November 6, 2013 09:22 AM
Starbucks commits to recruiting 10,000 veterans and Army spouses while Walgreen offers military-only discount on Veterans Day.
Nokia swipes at Samsung with lower-priced phablet.
Cargill begins labeling its "finely textured" beef aka "pink slime."
Abercrombie & Fitch expects weak holiday sales.
Acer ousts CEO as another victim of iPad.
Apple adds suppliers to boost iPhone and iPad production as it claims fifth place in China mobile market.
Boeing plans to build 777x jet in Washington State.
Brides Magazine wants its new app to take on dress counterfeiters.
Burger King plans to bring back Big Mac copycat.
CNN turnaround runs into heavy viewer indifference.
Deadline.com severs ties with Nikke Finke.
Goodyear glides with US ski association.Continue reading...
Posted by Dale Buss on September 10, 2013 09:32 AM
Neiman Marcus majority stake sold for $6 billion to Canadian, US investment partners.
Apple will reveal new products today and may put focus back on fingerprint security with latest iPhone.
McDonald's tries multi-person meals.
Abercrombie & Fitch loses bias suit over firing Muslim woman.
Burger King stretches with "sense-swap" campaign.
Campbell bets on child-centered new campaign.
Dunkin' Donuts launches first TV ad made entirely from Vine.
Furniture Brands files for Chapter 11.
Gatorade grows market share with G Force sales and marketing team.
Google offers antitrust concessions to EU.
Hyundai workers end strike after reaching wage deal.
Jaguar mulls small SUV to challenge BMW.
L'Oreal attacks e-commerce.Continue reading...
Posted by Mark J. Miller on August 27, 2013 12:53 PM
Australian surf company Billabong has arguably been the king of big waves for 40 years, but the last couple have been a rough ride for the struggling company. After tripling its losses to $772 million in the fiscal year ending in June, the company on Tuesday essentially declared itself worthless.
Just a year earlier, the declared value of the brand rested at $224 million—still a far cry from its peak in 2007 when it was valued at $3.45 billion, according to Bloomberg.
According to the New York Times, Billabong has several refinancing options on its plate, however its unknown how the new brand value will affect those proceedings. For now, it has delayed the start of Billabong's new CEO, Scott Olivet, who used to head Oakley.Continue reading...