Retail Pricing Strategies: Pricing Your Products
There are many outside influences that affect profitability and a retailer's bottom line. Setting the right price is a crucial step toward achieving that profit. Retailers are in business to make a profit, but figuring out what and how to price products may not come easily. Before we can determine which retail pricing strategy to use in setting the right price, we must know the costs associated with the products. Two key elements in factoring product cost is the cost of goods and the amount of operating expense. More
Store Thefts Increase
"Theft is a big problem during the holidays, because people who wouldn't normally steal may be feeling desperate and their behaviors could change," said Kathy Fields, who spent several years in senior positions at multiple big-box retailers before buying the Crafty Yankee store in 1994. Business associations, police officials, and criminologists generally agree there's a marked increase in shoplifting from October through December, a crime that costs stores an estimated $13 billion a year nationally. Complicating matters for merchants these days, police and retail analysts predict that these harsh economic times could drive more people to steal during this holiday season. More
Good Service is a Wise Investment
from The Baltimore Sun
High overhead costs are nothing new to large department stores and retail chains. But the results of a sluggish economy can mean deep cuts in customer service personnel. That could lead to a self-service shopping environment that customers may tolerate or even prefer for certain purchases. But it can be a challenge for the customer who has questions or requests help locating an item. Small retailers must keep tabs on overhead costs, too. They are in a better position, however, to provide the level of service that consumers expect. More
Auto Insurers Begin to Add Pet Coverage
from The Detroit News
Good news, Fido. Tough break, turkey: Some auto insurance companies have quietly begun offering free coverage to four-legged friends, paying medical bills for pets injured in car crashes. But just as dogs and cats rule the roost at home, they also top the insurance pecking order. The handful of insurers that offer the coverage with comprehensive collision policies are drawing the line at cows, pigs, sheep, goats, chickens, turkeys and other animals kept for profit or food -- although Farmers Insurance Group will cover ferrets, rodents and reptiles. The coverage reflects what pet owners have known for years and some corporations are just now realizing: The bonds run deep with fluffy friends. Even if they do soil the carpet now and again. More
OurPet’s Announces International Trade Commission Decision
On Dec. 2, 2008 the ITC made its initial determination that OurPet's and its codefendant did not infringe on seven of the eight patent claims Applica Incorporated alleged. The only patent claim OurPet's and its codefendant infringed on relates to a perceived manual function of the SmartScoop(R) Self-Scooping Litter Box. Specifically, when the SmartScoop(R) Self-Scooping Litter Box is first assembled and turned on, the unit performs a cycle to show the user that the product is on and working properly. This action was determined by the ITC to be a manual function, which infringes on one claim of the Applica patent. While this is a minor infringement, OurPet's believes this ruling to be incorrect and intends to appeal the ITC's initial determination. More
Former Petland Franchisees Suing Chain
from Business First of Columbia
Former Petland Inc. franchisees are suing the Chillicothe chain for fraud, alleging the stores are doomed from the start - and the company knows it. Columbus-based Luper Neidenthal & Logan and two New York firms filed a suit on behalf of two lead plaintiffs – franchisees in Nashville, Tenn., whose stores have gone out of business. The suit is seeking class-action status on behalf of all franchisees since November 1993, and asks for relief of about $20 million. It also seeks cancellation of franchise agreements, said Greg Melick, a Luper Neidenthal attorney representing the plaintiffs. More
Melamine May Be Tip of the Iceberg
from Natural News
Melamine continues to make headlines worldwide. The latest news has discovered the chemical in baby formula in the U.S., and more reports of melamine tainted eggs in Hong Kong. Even more startling is a report from a Chinese Veterinarian reporting melamine is just the tip of the iceberg of chemicals routinely added to animal feed ingredients exported to a world of pet food and animal feed manufacturers. More
||Central Garden and Pet Co
||Church & Dwight Co., Inc.
||Del Monte Foods Company
||International Absorbents, Inc.
||Jakks Pacific, Inc.
||Kraft Foods, Inc.
||Oil-Dri Corporation of America
||Pet Ecology Brands, Inc.
||PetMed Express, Inc.
||Proctor & Gamble Company
||Spectrum Brands, Inc.
||VCA Antech, Inc.
from Forbes.com (Stock quotes published at 9:45 a.m. Eastern, Dec. 9, 2008)
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