Tuesday, August 6, 2013 | Edited by Daniel Moores
||STORES Hot 100 List Identifies Fastest-Growing Retailers
The list of the fastest-growing retailers this year tells a story of consumers' growing affinity for fast-fashion, specialty grocery items and apparel.
STORES Hot 100 Retailers list, published annually in the August issue of STORES magazine, consists of retail companies that reported the greatest increase in domestic sales between 2011 and 2012. All public and private companies with more than $300 million in sales were eligible for the list, which was compiled by Kantar Retail.
"With the worst of the recession behind us, retail has dramatically changed the way it responds to customers' complex needs and wants," said STORES Media Editor Susan Reda. "Today’s fastest-growing companies recognize shoppers' desire for a relevant and personalized shopping experience and deliver products that speak to their unique sensibilities when it comes to lifestyle and fashion."
Jacksonville, Fla.-based Bi-Lo tops the list following the acquisition of the remnants of the Winn-Dixie chain in 2011. Indicative of a condensing grocery market and a growth in specialty grocery stores, Sprouts Farmers Market (3) and The Fresh Market (10) also placed in the top 10 this year.
With plans to increase its store footprint in China and the United States in the coming years and with a full e-commerce launch imminent, No. 8 H&M joined the Hot 100 list for the first time. Sales at U.S. stores increased 20.7 percent from 2011, and the number of operating domestic stores increased 15.5 percent during that time as well.
Specialty apparel continues to heat up in the retail industry. With revenue increasing 63.2 percent from 2011, Michael Kors comes in at No. 2, up one spot from last year. lululemon athletica (4) and Under Armour (5), also known for their loyal fan bases and unique product offerings, mostly maintained their spots in the top 10 from last year.
Helzberg Diamond Shops climbed the Hot 100 list from No. 60 last year to No. 9 this year.
Apple Stores/iTunes (5) and Amazon.com (7) round out the top 10.
"This year's Hot 100 features a series of retailers selling broad based solutions that resonate emotionally with shoppers," said Kantar Retail Chief Knowledge Officer Bryan Gildenberg. "Either through specialized expertise in stores like lululemon and Under Armour or by ease of access to a wide variety of products like Amazon, retailers are going beyond function to a more emotional connection as the key to rapid growth."
Here are the top 20 companies with the greatest increases in domestic sales for 2012:
10 Companies Demonstrate "Sustained Sizzle"
- 1. Bi-Lo, +353.0%
- 2. Michael Kors Holdings, +63.2%
- 3. Sprouts Farmers Market, +62.6%
- 4. Lululemon Athletica, +57.7%
- 5. Apple Stores/iTunes, +34.6%
- 6. Under Armour, +33.4%
- 7. Amazon.com, +30.4%
- 8. H&M, +20.7%
- 9. Helzberg's Diamond Shops, +20.5%
- 10. The Fresh Market, +20.0%
- 11. J. Crew, +19.4%
- 12. Lumber Liquidators, +19.3%
- 13. Rue21, +18.6%
- 14. Grocery Outlet, +18.2%
- 15. Ulta Salon Cosmetics & Fragrance, +18.2%
- 16. Chico's, +17.5%
- 17. AT&T Wireless, +16.8%
- 18. Tilly's, +16.6%
- 19. Tops Holding, +16.4%
- 20. Wayfair, +16.0%
Smart merchandising, stellar customer service, expansion efforts and a cornering of a niche market have helped 10 retail companies maintain a place on the Hot 100 list each of the past eight years.
Companies that have managed to stay hot include (rank based on average annual growth):
List Evaluates Fastest-Growing Restaurants
- Amazon.com (7)
- Ascena Retail Group (70)
- O'Reilly Automotive (81)
- Urban Outfitters (28)
- J.Crew (11)
- Tractor Supply Co. (46)
- Dick's Sporting Goods (32)
- Dollar Tree (37)
- Ross Stores (27)
- PetSmart (41)
Separate from the fastest-growing retail companies, the Hot 100 list evaluates the fastest-growing restaurants. The top 10 in order of sales growth are:
(Source: National Retail Federation, 08/01/13)
- Jimmy John's
- Cheddar's Casual Cafe
- Buffalo Wild Wings
- Chipotle Mexican Grill
- Panda Restaurant Group (Panda Express)
- Noodles & Company
- Zaxby's Franchising
- Wingstop Restaurants
- BJ's Restaurants
For the complete STORES Hot 100 List, click here.
||Big Pickups Lift 'Healthy, Stable' Industry Even Higher
With large pickups flying out of dealerships, U.S. auto sales jumped 14 percent to 1.3 million light vehicles in July.
The seasonally adjusted annual sales rate of 15.7 million dipped from June but still was above any other month since late 2007, signaling continued strength in the recovery.
Kurt McNeil, General Motors' U.S. sales boss, expects the momentum to continue. "With the strength we're seeing in household wealth, consumer sentiment, housing and manufacturing, we think there's definitely more room to grow this year," he said in a media conference call.
Six of the seven largest U.S. players posted double-digit sales gains for the month. They were led by a 21 percent increase at American Honda, which pushed the company past Chrysler Group by 1,337 units.
With a 17 percent jump, Toyota Motor Sales outsold Ford Motor Co. by 314 units. That marked Toyota's first monthly win over Ford since March 2010.
Toyota still trails Ford by 182,000 units through July.
No. 1 GM gained 16 percent in July, its biggest percentage increase since January.
Ford, Chrysler and Nissan North America all were up 11 percent.
The industry's No. 6 player, Hyundai-Kia America, rose 5 percent. That was enough to maintain a narrow lead over Nissan North America for the month and year to date.
Volkswagen Group of America increased 2 percent. Growth at the premium Porsche, Audi and Bentley brands offset a 3 percent decline for the VW brand.
Big pickups and small cars and crossovers drove July sales, said analyst Jesse Toprak of TrueCar.com.
"The big trucks did unseasonably well," he said. "The industry is healthy, stable and growing in all directions."
Sales of full-sized pickups jumped 30 percent to 162,177. GM led the parade as the redesigned 2014 Chevy Silverado and GMC Sierra combined with carryover 2013 models to soar 46 percent.
Chrysler's Ram pickup gained 31 percent, and the Ford F series was up 23 percent.
The Toyota Tundra rose 7 percent, but the Nissan Titan fell 42 percent. The Japanese share of the full-sized pickup segment dropped to less than 7 percent in July, from 9 percent a year earlier.
Smaller automakers thrive
July was also a good month for smaller automakers. Subaru led the Japanese pack with a 43 percent gain, but Mazda also jumped 29 percent and Mitsubishi was up 25 percent.
Among Europeans, Jaguar Land Rover was the percentage leader, up 31 percent. Daimler AG rose 19 percent overall and 19% for the Mercedes-Benz brand, with a lesser 10 percent increase for the Smart brand.
Two brands increased volume but fell below the 14 percent industry average. BMW group rose 11 percent and Volvo added 3 percent.
A bottleneck at 11%
Ford Motor, Chrysler Group and Nissan North America all boosted July sales 11 percent, a statistical dead heat in Automotive News' practice of rounding gains and losses to the nearest whole percentage point.
For numeric purists, rank the trio as Ford (up 11.296 percent), Chrysler (11.114 percent) and Nissan (10.881 percent). How close is that, really? To finish with a higher percentage gain than Ford, Chrysler needed to sell 21 more vehicles.
More statistical oddities
An enthusiast who sees GMC as just a high-margin outlet for Chevrolet points out that in the first seven months Chevy/GMC outsold the Ford brand by 247 units: 1,437,856 to 1,437,609, a 0.017 percent spread.
Subaru outsold Volkswagen Division in July, 35,994 to 35,779. But with 242,571 sales through seven months, VW is ahead by 1,980 units year to date.
The 10 Best-Selling Cars in July
1. Toyota Camry, 34,780
2. Honda Civic, 32,416
3. Honda Accord, 31,507
4. Nissa Altima, 29,534
5. Chevrolet Cruze, 25,447
6. Toyota Corolla/Matrix, 24,463
7. Hyundai Elantra, 23,958
8. Toyota Prius, 23,294
9. Ford Fusion, 20,522
10. Hyundai Sonata, 18,903
The 10 Best-Selling Light Trucks in July
1. Ford F Series, 60,449
2. Chevrolet Silverado, 42,080
3. Ram, 31,314
4. Honda CR-V, 27,226
5. Ford Escape, 22,343
6. Toyota RAV4, 19,538
7. Chevrolet Equinox, 18,507
8. Nissan Rogue, 16,992
9. GMC Sierra, 16,582
10. Jeep Grand Cherokee, 15,019
(Source: Automotive News, 08/01/13)
||Boats Ride a Rising Tide of Popularity
If waterways near you seem to be teeming with new boats, it's not your imagination. After years of anemic sales, powerboats are surging back, with a 10 percent increase in sales in 2012 and another 5 to 10 percent expected in 2013.
"In 2012, the boating industry bounced back from probably the longest downturn it has experienced in four or five decades," says Thom Dammrich, president of the National Marine Manufacturers Association.
A whopping 88 million adult Americans, 38 percent of the population, went boating last year, making up about a quarter of the $646 billion annual outdoor recreation industry, he says.
As the economic recovery helps to drive sales forward, certain types of boats, including pontoon boats, aluminum fishing boats and offshore fishing boats, are taking off. Buyers are also attracted by design innovations such as joystick steering systems (which make it easier to dock) and small cabins under the bow that can hold a toilet. Electronics such as GPS, stereo systems and fish-finders appeal to fishing- and pleasure-boat users alike.
Outboard engines continue to grow in popularity. Sales are driven by improved performance and the lower price tag when compared to boats with stern-drive engines, which are subject to new EPA restrictions that raise the cost by about $3,000.
"The new outboard engines are extremely quiet, very fuel-efficient (and have) low emissions," Dammrich says.
Fuel efficiency was a top concern for Dennis Hoskins of Woodbridge, Va., who bought a new boat earlier this year. "I knew I wanted a 20- to 22-foot boat because that's small enough to trailer pretty easily and also get a little better gas mileage," says Hoskins.
He chose a 20-foot, center console Sea Hunt Triton 202 with a four-stroke Yamaha F115 engine. He opted to add a T-top for shade and to hook up additional trolling lines off planer boards along the side of the boat.
The boat gets 4 miles per gallon, which is better than the 1 to 2 miles per gallon of his previous boat. Hoskins likes being able to spend only $22 on gas for a day of fishing in the Cheseapeake Bay.
For inland fishing tournaments, where speed is king, boats are getting ever-more powerful engines that accelerate up to 50 or 100 mph in just a few seconds.
"I'm getting smoked out of the water," says Terry Town of Dryden, Mich., who uses a 19.5-foot Ranger Bass boat with a 10-year-old engine.
New boats also have redesigned storage with rod and tackle lockers, highly efficient live wells and the ability to stow everything for a streamlined ride at high speeds.
"The technology is probably more important today than anything," adds Town, who competes in about 20 tournaments a year. New GPS systems let you lay down a track to a good fishing spot and rerun that exact track on a second visit. Fish-finders provide side imaging and down imaging so you can see fallen logs or wrecks under the water where fish like to gather.
Hoskins cut the cost of installing electronics to $4,000 by buying the equipment -- a structure scanner, motor adapter, stereo and marine radio with a one-touch distress button that will send his coordinates to the Coast Guard -- online and installing it all himself. And he loves his new 9-inch touch screen for displaying data.
In the Market for a New Boat? Consider...
Fuel efficiency. Buy an engine that is small and efficient and meets your needs. The more power you enjoy, the bigger the gas bill.
Expected use. Are you planning to fish tournaments on inland lakes or take a boat onto the ocean? Do you want the flexibility to bring the family along for a day of water skiing and fun in the sun? These choices will affect your design selection.
Electronics. You can pick and choose your electronics, from GPS to fish-finder to motor adaptor, but they will cost you. Investigate interoperability if you are considering buying systems from different manufacturers.
Storage and design. Do you have all the storage you need for fish, rods, gear, food and drinks? Will you want a shady spot for children to nap? Will you need a higher hull for ocean boating?
(Source: USA Today, 08/04/13)
Daily Sales Tip: 6 Steps to Achieving Sales Goals
Over the years I've seen many salespeople (and sales managers and companies) get goal planning, action planning, and commitment right, and I've seen many fall short. Without a clear goal they don't know where they're headed, so any path will get them there.
In my experience, only two things set apart those who live by goals and those who don't. Salespeople who live by goals:
-- Know where they're headed
-- Commit to a goals routine
Here's a roadmap you can follow for achieving your sales goals:
1. Review your sales goals first thing in the morning every day. Say your big picture goal out loud (yes, seriously), then go scan your plan for the week and review goals and actions for the day. At the end of each day, review how the day went, and set goals and actions for the next day.
2. On Friday or Saturday, review the week and set goals and actions for the next week.
3. Once per week (this can be at your Friday or Saturday review session), review your goals with a goals partner. Your goals partner can be a peer, a mentor, a coach, or a friend, but it's someone you explicitly work with each week to make sure you're on top of your goals, staying committed, and pushing yourself. Along with goals, milestones, and progress, you should discuss any hassles or potholes that are holding you back so you can fight your way through them.
4. Once per month, meet with a small group of people you trust to review what you're doing, where you're headed, what you'll do in the next month, and get ideas for how you can achieve more and shake off any nagging hassles that are holding you back.
5. Once per quarter, review your progress toward your annual goal. Set no more than 3 quarterly priorities that you'll direct all your passion, energy, and intensity toward so you can stay on track to meet your annual targets. During the quarterly meeting, step back and ask yourself, "What do I absolutely, positively need to get done over the next three months to achieve my annual goals?" Define it, commit to it, and set your monthly targets and actions for the next three months.
6. Once per year, set your targets for the next year. Make sure you ask yourself, "What do I need to do to get to my big picture goal?" When you're done with your goals and plan, ask yourself, "If I get done what I am about to do, will it help me get to my big-picture goal?" Make sure it does before you put your head down for a year and make it happen.
As you're crafting your goals, you should also take care to take your big picture goals and align them to shorter term goals, including what you need to do this year, this quarter, this month, this week, and today.
Sometimes when we're working with salespeople to craft their goals and actions they get hung up on having "the right template" or detailed tracking mechanism, and since they don't have it, they don't even get started. Don't fret too much about the tracking sheet, but do concentrate on taking a step toward your goal every day.
Source: John Doerr, president of RAIN Group, a sales training/assessment company