M&S rues cost of stock shortages
ProcurementLeaders.com - Apr 19th 2012, 10:19
UK retailer Marks & Spencer has been hit by stock shortages caused by what the groupâs CEO referred to as ânot perfect buyingâ
The high street clothes stores reported loss of sales after the company failed to order enough items to support its key clothing business through the first months of the year.
âWe were too short, so it was not perfect buying,â Marc Bolland, CEO, was quoted in the Financial Times as saying. âEverything that was on the catwalk [we had but]...we didnât have enough of it.â
He estimated that the retailer sold 100,000 items of M&S Woman knitwear, but it could have sold 300,000. It also failed to buy enough of âon trendâ clothes to take advantage of consumer demand.
According to the Financial Times, M&S is now taking steps to avoid these kinds of issues â but denied that recent efforts to modernise its supply chain had been behind the shortages.
DionWired unveils multichannel retailing to meet shopping trends
05/12/2013 - 15:33
DionWired has embraced the multichannel retail concept with the launch of its brand new website, which was developed to give consumers a highly positive, symmetrical shopping experience between the web and the brick-and-mortar stores.
Double blow for Adcock suitor
03/12/2013 - 08:00
Johannesburg - A Chilean group's $1.2bn (R12.6bn) bid for drugmaker Adcock Ingram [JSE:AIP] was challenged on two fronts on Monday, as a group led by Bidvest [JSE:BVT] sought nearly a third of Adcock's shares and launched a court action against the bid.
Pick n Pay opens two premium stores as part of six month plan to open 64 stores
29/11/2013 - 10:27
After an improved performance at the half year, Pick n Pay is demonstrating its commitment to pursuing positive growth through focused, streamlined operations and an expanding store footprint, with plans to open over 60 new stores in the six months to end February 2014.
Woolworths always listens, says chief
27/11/2013 - 12:22
According to Woolworths chief executive Ian Moir, the company always listens to what its shareholders say about executive remuneration, âespecially those who have issuesâ with the subject.
Target profit falls 46% on Canadian costs; trims full-year forecast
22/11/2013 - 10:20
Minneapolis -- Target Corp.'s third-quarter net income fell 47%, hurt by costs related to its Canadian expansion. Its adjusted profit beat analysts' estimates, but sales fell short. The retailer lowered its full-year adjusted earnings forecast.