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Now We Know Why Rite Aid Will Probably Never Beat CVS And Walgreens

Source: http://www.businessinsider.com/rite-aids-stocking-woes-cvs-walgreens-2012-4

rite-aid

Rite Aid Pharmacy can blame itself for perpetually lagging behind drugstore rivals like CVS and Walgreens. A new report claims the chain has trouble keeping products listed in sales ads nearly 80 percent of the time. 

In Not as Advertised: Out-of-Stock Sale Items and Rite Aid’s Bid for Customer Loyalty, a conglomerate of drugstore unions blasts the pharmacy’s archaic manual stocking system.

Rite Aid offers customers a loyalty card for discounts on sale items, usually marked by a bright yellow sticker. When products go out of stock, workers manually slap blue stickers on in their place along with the date a new order is placed – some of which were found to be more than six months old.

The group paid 1,110 visits to about 220 of the chain’s locations across the country (five visits per store) and found 40 percent of stores had at least one sale item missing every time.

Seventy percent lacked sale items in four out of every five visits. New York City establishments were particularly found to be lacking, with 20 percent of items absent from shelves. 

Retail loyalty systems are one of the most effective ways to save, but if customers are confronted by empty shelves chances are they’ll either walk out with a pricier item or search for lower prices elsewhere.

In the chain’s defense, spokeswoman Susan Henderson told Time Money Land they weren’t contacted before the study was conducted: “While we are disappointed to hear of any out of stock situations, it is difficult for us to accurately assess and comment on these findings,” she said. 

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Monday, April 16th, 2012 news No Comments

Beats Dumps Monster Over Headphone Spat [Audio]

Source: http://gizmodo.com/5875715/beats-dumps-monster-over-headphone-spat

Beats Dumps Monster Over Headphone SpatPeanut butter and jelly, unicorns and glitter, Beats Electronics and Monster. One of these things just doesn’t belong, one of these things is not like the others. After a five-year collaboration, the two companies have terminated their relationship but do hope to remain friends.

According to Businessweek, the breakup came about due to an irreconcilable dispute between Beat’s Jimmy Iovine and Monster’s Noel Lee over which company deserved more credit for the brand’s 53-percent share of the $1 billion headphone market during the last year. As such, Beats has opted out of renewing its manufacturing contract with Monster when it expires later this year

Monster takes credit for the design and production “They wanted to do speakers and I said, ‘The new speaker is the headphone,’ ” says Lee. Beats, on the other hand believes its celebrity connections helped market the devices as high-quality status symbols. “Now a big part of what you’re paying for is the brand and fashion,” Ben Arnold, director of industry analysis for NPD, told Businessweek.

It’s still too soon to see who will ultimately come out ahead from this. Beats Electronics remains the preeminent brand for twentysomethings. Monster on the other hand will have to find a way to replace the lost revenue—reportedly 60 percent of its of privately held revenues and profit. Its recently announced partnerships with fashion brand Diesel and Radio Shack should do nicely though. Those products are expected to hit shelves later this year. [Businessweek via CNetPhoto by Elsa/Getty]


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Friday, January 13th, 2012 news No Comments

American Apparel’s Profits Are Getting Clipped Thanks To Groupon (APP)

Source: http://www.businessinsider.com/american-apparel-groupon-2012-1


american apparel

Just when it looked like things were starting to look up for cash-strapped American Apparel, profits are reportedly getting shaved.

Why?

Groupon.

From The New York Post‘s James Covert:

The hipster clothing chain racked up impressive sales gains during the holidays, but profits were squeezed hard as it took steep discounts, including those from a barrage of Groupon offers nationwide, sources told The Post.

American Apparel rang up millions of dollars in the fourth quarter selling cardigans, corduroys and sexy leggings through the daily deals site — a heap of bargains amounting to a “small but material” percentage of the company’s $157 million in total sales during the period, said one source briefed on the company’s finances.

The controversial clothing company has been struggling to turnaround its operations.

Read more at NYPost.com >
 
SEE ALSO: Here’s What American Apparel Thinks The Holidays Should Look Like >

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Wednesday, January 11th, 2012 news No Comments

The Dallas Cowboys Are Letting Fans Conduct Their Own Press Conferences Via Google+ Hangout

Source: http://www.businessinsider.com/demarcus-ware-google-hangout-question-and-answer-session-2011-12


DeMarcus Ware and the Dallas Cowboys are changing the game, and it goes well beyond the football field, where he leads the NFL with 15 sacks. 

The Cowboys linebacker is one of – if not the – first athlete on a professional team to hold a Google+ Hangout with his fans.

In case you’re unaware, the hangout is basically a group video chat for up to 10 people. 

The Cowboys star and his fans took part in an intimate question and answer session, giving people an opportunity to speak directly with Ware.

It’s definitely a novel idea in this lockout age for fans feeling disconnected from the athletes they follow.

Hopefully other organizations will take note and take advantage of this opportunity.

(video via Digital Hoops Blast)

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Monday, December 5th, 2011 news No Comments

When Will Kindles Be Free? (AMZN)

Source: http://www.businessinsider.com/chart-of-the-day-the-shrinking-price-of-the-kindle-2011-9

At yesterday’s Kindle presentation, Amazon CEO Jeff Bezos gave special attention to all the people in the media who were calling for a $99 Kindle.

He noted that pundits said a $99 Kindle would send people into a “fervor”. Then Bezos whipped out a $99 Kindle Touch and said the “fervor” for cheap Kindles could begin.

A few minutes later, (oddly) with less excitement, Bezos revealed a $79 Kindle. Considering the Kindle started at $399 four years ago, these are very impressive price cuts.

We’ll start the next round of questions from the pundits to Bezos: When will the Kindle be free? When will Amazon’s special offers, and Prime program make it cheap enough for Amazon to give away Kindles? Next year? The year after that?

chart of the day, kindle price september 2011

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Friday, September 30th, 2011 news No Comments

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