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Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Payless went caput. But that does not mean that DSW should follow

Payless went caput. But that does not mean that DSW should follow



DSW's strong sales in November, December and January were at the expense of profit, the company said on Tuesday. DSW has released its fifth consecutive quarter of comparative sales growth, but the company lost nearly $ 46 million during the holiday period as it had to launch promotions to clear its merchandise. DSW ) fell 15% after the company reported a loss of surprise in the quarter.

Despite the rocky break, the shoe chain tried to adapt to destructive changes in the industry and learn new tricks to stay fit with buyers. Store nail salons, the revised loyalty program, and children's shoes increase DSW.

DSW is looking for different ways to expand its brand with its major customers. Women's shoes account for 69% of DSW's sales of more than $ 3 billion. "

" They have done a very good job in the last few years to perfect their customers, "says Sam Puser, analyst at Susquehanna Financial Group.

DSW tried to add experience to the shops except self-service

DSW began testing nail salons in two stores in Columbus, Ohio in 201

7. DSW hoped that women would enter manicure or pedicure and would then stay in order to buy a pair heels or sandals

Nail salons have increased sales and have forced customers, including high the DSW plans to expand manicure stores in five other stores in Austin, Washington and Dublin, Ohio, and launched a new loyalty program, DSW VIP, which gives members exclusive access to the shops. promotions and special events DSW VIP has 25 million members and clients in their prize program account for 90% of their sales.

The prize program is important because it provides a better insight into DSW's customers. The company has found that more than half of the members have at least one child, so it decides to add children's shoes to all of its stores.

  DSW adds manicure stores to choose from to attract buyers.

"The reason we came into the kids was not to sell children's shoes." Bill Jordan told investors during a Tuesday's presentation

This plan works. in children's shoes helped the company to attract more frequent visits from existing customers and reach new buyers Customers who buy from DSW's children's section spend $ 75 a year more than other buyers, there are plans for innovation, such as adding shoe repair shops and developing its own brands for private brands and also jumped to the booming CBD market and recently announced that it will sell CBD lotions and conditioners in nearly 100 stores

But the company will face major challenges including increased pressures M ) and Nordstrom ( ] JWN ) shooting for DSW's main customers with its own discount stores. Nordstrom builds Rack stores at a bargain price while Macy's expands Backstage at Macy's stores. Macy's says Backstage is attracting new customers who may be at the expense of DSW.

DSW, which also owns the portfolio of Camuto Group and Canadian stores The Shoe Company and Shoe Warehouse, announced plans to change designer brand names Tuesday. Its stock index will move from DSW to DBI. Stores will retain the name of DSW.


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