Content about Inventory

Edwin Watts Golf has grown significantly during the past several years, expanding its store portfolio and direct mail and Internet businesses as well. With growth came an increased complexity that taxed the capabilities of its aging legacy systems, which did not provide visibility across channels and among stores. The retailer decided it was time to invest in a new solution due to the age and fragmentation of its existing systems.

New Albany, Ohio -- Abercrombie & Fitch Co.’s net income rose to $157.2 million for the fourth quarter, compared with $45.8 million a year earlier for a 13-week period. The chain said its net income was calculated using a new system for valuing inventory
 
Sales rose 11% to $1.47 billion for the 14 weeks ended Feb. 2, led by a 34% rise in international sales. (The period, however, includes an extra week compared to year earlier.)

Same-store sales were flat for the namesake chain, down 2% at Hollister and down 3% abroad.

Norwalk, Conn. -- WhenToManage announced that its suite of retail operations solutions, including point-of-sale intelligence, labor scheduling and inventory management tools, is now being deployed by Rocky Mountain Chocolate Factory, an international franchiser, confectionery manufacturer and retail operator.

By Jeff Boudreau, Ryder Supply Chain Solutions

With the holidays approaching, retailers are once again facing the challenge of securing the right staffing levels in their stores to meet the higher demand of the season. And just as obtaining the right manpower levels is critical for capturing sales, reaching the right labor mix in the warehouse is essential in keeping inventory flowing smoothly through the supply chain.

New York -- Hurricane Sandy is likely to result in shipping delays and an increase in third-party carrier rates due to fuel shortages, according to Chris Merritt, VP/GM, retail supply chain solutions for Ryder.

"While most retailers should have enough inventory for their regular replenishment items, we expect to see out-of-stock situations up and down the East Coast for promotional items retailers have ordered and advertised for Black Friday," Merritt said.

Miami -- While out-of-stock items and inventory performance remain top-of-mind, retailers' concerns about understanding customer preferences — along with their own ability to respond to those preferences with new ideas about pricing and promotions — have become top business challenges, according to a survey of 96 retailers published Wednesday by Retail Systems Research.

Bensalem, Pa. -- SB Capital Group, Tiger Capital Group and Great American Group jointly announced Tuesday that, in tandem, they will begin to sell off all of the inventory in the 568 Fashion Bug stores in the United States.

The Charming Shoppes unit will be divested and fully closed.

As part of the process, Fashion Bug has retained more than 5,900 store and district personnel to assist in operating the stores through the completion of the sale process.
 

By Mark Robinson, UPS Capital Corp.

Dallas -- Family Express has improved its inventory management operations significantly by deploying Retalix Ltd.’s demand-driven replenishment solution across its convenience stores in Northwestern Indiana, Retalix said.

Access to operating capital remains an ongoing challenge for some retailers, which are still facing a difficult time when it comes to securing a loan. The problem is particularly acute for small and medium-sized businesses: Among U.S. small business owners, 90% believe the availability of credit for small businesses is a problem, and 61% agree it’s harder to get a loan now than it was four years ago, according to a recent study by the American Sustainable Business Council, Small Business Majority and Main Street Alliance. 

By Ken Burkeen, pr@ups.com

Jacksonville, Fla. -- Stein Mart Inc. on Thursday said it has had to revise its Q3 financial results, because it mishandled records related to a pending changeover in its electronic inventory system. The computer error led the retailer to miss recording permanent markdowns for the quarter ended Oct. 29.

The adjustment, which will reduce gross margin and inventory, will widen Stein Mart’s third-quarter loss by $1.3-$1.6 million. The retailer had reported a loss of $1.8 million for the period.