How Famous Footwear Tapped Into Its 60 Years of History to Weather the Pandemic
FootwearNews.com says that over the course of six decades, Famous Footwear has navigated many ups and downs in the consumer market, all by maintaining a consistent focus on families and providing must-have styles at affordable prices. The tagline coined by founder Neil Moldenhaur in 1960 still holds true: “Brand name shoes for less.”
“At our core things haven’t really changed about who Famous Footwear is: We’re still a footwear retailer that offers great national brands at a great value,” said Mike Edwards, who was named president of the St. Louis-based chain on Nov. 11, after 12 years with parent company Caleres. Edwards took over from Molly Adams, who exited for another opportunity.
Meijer Gives Curbside Pickup Customers An Early Christmas Gift Retailwire.com reports that more than 200 random customers visiting Meijer to pick up their groceries during the weekend before Thanksgiving got a big holiday surprise — the groceries were on the grocer.
When the lucky customers arrived at one of 234 participating Meijer locations for pickup, they were greeted by a staff member who told them the groceries they were picking up would be free, according to a report on MLive. Those customers were also given a $50 gift card for their next trip to Meijer. At some Meijer stores, staff greeted pickup customers in costume, played holiday music and even presented bouquets of flowers. With the promotion, Meijer intended to demonstrate appreciation for those customers who trusted the grocer to do their shopping for them during the tough circumstances of the pandemic.
Shoe Carnival Looks To Resume Store Expansion In 2021
Speaking at Morgan Stanley’s Virtual Global Consumer & Retail Conference, SGBOnline.com says Shoe Carnival officials elaborated on plans to start ramping up expansion efforts in 2021 after closing a number of underperforming locations over the last three years that reduced its store count from 417 to 383 currently.
At the conference, Cliff Sifford, vice chairman and CEO, said the footwear off-pricer would have started expanding again this year if COVID-19 hadn’t arrived.
“We got our real estate team out looking for sites,” said Sifford. “We want to start first in filling our current footprint. We need more stores in Texas, need more stores in Pennsylvania and more stores in Illinois. We will first backfill, and then we’ll start spreading northeast and eventually out west.”
After 13 years, Best Buy Exits Mexico
Best Buy announced its departure from Mexico, closing its 41 stores, starting Dec. 31. Mexico was the smallest market for the company, where it has been doing business for 13 years.
The company reported that store closings during the pandemic severely affected their gains, and they plan to improve its strategies. But some analysts consider that Best Buy had a hard time adapting to the Mexican market, where pricing is more competitive, competition is high and a strong branding is needed. The announcement of the liquidation of its stores last Friday has already attracted hundreds of customers seeking big discounts.
Ascena Is Selling Its Brands for $540 Million
Ascena Retail Group Inc. is selling its brands as it seeks to exit bankruptcy amid the coronavirus pandemic. The company announced that it has entered into an asset purchase agreement with Premium Apparel LLC — an affiliate of private equity firm Sycamore Partners — to sell its Ann Taylor, Loft, Lane Bryant and Lou & Grey banners.
Under the deal, Premium Apparel will acquire the brand assets for $540 million on a cash-free and debt-free basis, subject to certain adjustments, and the assumption of certain liabilities. It also intends to retain a “substantial portion” of Ascena’s brick-and-mortar fleet as well as its employees.