Word: stores
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...exactly, do you trade up an entire company? First, you stop the downward spiral. When Fiske took over Bath & Body Works in February 2003, same-store sales were skidding, having dropped 3% in 2002 and 11% the year before. Former CEO Beth Pritchard built the chain from nothing to 1,600 stores and $1.8 billion in revenue in just 10 years, but consumers were growing tired of folksy fare like Juniper Breeze shampoo gift baskets and were starting to find palatable alternatives in drugstores and discount chains, which had begun an upscale lurch of their own. Fiske came in, began...
Today the company is in the midst of a full-scale makeover. To reach a broader customer base, Fiske has broken the chain into three tiers: starting at the bottom with the core Bath & Body Works store, moving up to the Bath & Body Works flagship store (which may also offer services like aesthetician consultations) and finally to top-of-the-line C.O. Bigelow--a retro "apothecary" meant to draw customers from competitors like Sephora and the Nordstrom cosmetics counter. "Segmentation unlocks growth potential," says Fiske. The underlying idea at all the stores is to stock products that don't just...
...city absorbed the evacuation orders with a mix of resignation and rage. Tom Drummond, a bassist with the alternative rock band Better Than Ezra, performed on the CBS Early Show two days before Katrina hit. Although his home in the Garden District survived, his wife's new clothing store was looted in the hurricane's aftermath, only days after her fall collection had arrived. Drummond plans to tour while his wife stays with her family in McComb, Miss. "Got to go where I can be of some use and work," he says. His radiologist father-in-law James Boothe...
...listened as Hurricane Katrina’s winds stripped the limbs off his backyard’s trees and wrenched out others from their roots. Later he wandered up and down New Orleans’ Magazine Street with a laundry basket, at last encountering a convenience store where a man sold him coffee and canned milk, letting in just one customer at a time before closing shop forever...
...course, airlines are rushing to reassure us that planes are still safe, and make no mistake, they are. The numbers show that, currently, my chances of dying on the next flight are about eight million to one, much lower than when I’m driving to the grocery store. Then again, the mortality rate of a plane crash, if one should be so unlucky, is pretty darn high—commercial airliners don’t get away with many fender-benders—and the state of the airline industry is reaching new lows. These facts taken together...