L’Oreal, who utilizes Accelerated Analytics for its retailer point of sale data collection and harmonization for the majority of its US Luxe division retailers, revealed its 2017 results this week. Chairman and CEO, Jean-Paul Agon, spoke at a financial analysts’ meeting with specific results. In the final quarter of the fiscal 2017 year, sales were up 4.1% and 5.5% in same store comps versus 2016. Their full 2017 results were up 0.7% and 4.8% in comps. While he acknowledged, “The beauty market grew at a healthy pace,” the “making of it turned out to be somewhat different from our expectations.” The luxury color cosmetics and skin care both accelerated the sales growth. Mass-market beauty grew less than in 2016. China and travel retail were the strongest sectors and North America grew, yet not as strong as 2016.
Genesco, a Nashville-based specialty retailer and footwear, head wear, sports apparel and accessories vendor, uses Accelerated Analytics for POS reporting for many of its key US retailer accounts. The company announced this week its intention to focus heavier on its footwear business, and is exploring the sale of its Lids Sports Group division. They stated its footwear business is “the optimal platform to deliver enhanced shareholder value over the long term.” They continued to state that its sales “would generate capital that the company can deploy productively to further enhance shareholder value.” A committee and capital firm have been engaged to explore this possibility that is currently in the infancy stages.
Sources: Chainstoreage.com, WWD.com
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