![]() ![]() In “The Customer is the Channel” chapter of “Remarkable Retail,” Steve Dennis lists two table stakes for retailers now and in the near-future: 1) Enabling true blended channel orchestration and seamless omnichannel shopping 2) Organizing around the customer: seeing the customer as the primary organizing principle. ![]() Urban Outfitters Pilots Paid Membership Program – RIS News.Urban Outfitters Inc (URBN) Q4 2020 Earnings Call Transcript – The Motley Fool.Best Buy Totaltech now available nationwide – Best Buy.Williams Sonoma Launches New Shipping Membership Program Williams Sonoma Reserve And New Williams Sonoma Recipes App – Williams Sonoma.Urban Outfitters began testing a paid subscription program earlier this year offering free shipping and returns as well as other benefits across its brands. Some chains such as Gap offer free shipping to bigger spenders in their loyalty programs.īest Buy’s Totaltech subscription program charges members $199.99 a year for free delivery and standard installation, free Geek Squad tech support, up to 24 months of product protection on most purchases and early access to hot launch products.īarnes & Noble Membership, costing $25 annually, earns free shipping, 40 percent off hardcover bestsellers in-store, 10 percent off everything in store and early access to in-store events. For most, free shipping kicks in above an order threshold. Those already offering free shipping with no minimums without any membership include Nordstrom, Neiman Marcus and Zappos. ![]() Some grocers have also rolled out paid membership programs supporting free shipping, but paid membership programs among specialty chains are rare. ![]() Last October, Walmart introduced a $98-a-year Walmart Plus subscription providing free grocery delivery from stores on orders over $35, free shipping on non-perishable items and fuel and pharmacy discounts. The standard bearer of membership programs is Amazon Prime, which costs $119 per year for free two-day shipping, same-day delivery on certain items for orders over $35 plus extra privileges like video/music streaming and Whole Foods discounts. Members save on shipping fees that range from over 30 percent for orders under $25 to 11 percent for orders over $150. The near-term issues that are softening demand at Williams-Sonoma are not tied to the company's long-term fundamental potential, and as such, we see the shares as significantly undervalued.Free shipping excludes home, furniture and any other oversized item that come with shipping surcharges. However, it’s clear that even with a moderating outlook, cash flow generation is unlikely to be sacrificed the board of directors declared a 15% increase to the quarterly dividend (to $0.90 per share) and lifted the buyback authorization to $1 billion. Additionally, the firm’s long-term outlook for operating margins of above 15% will push our long-term expectation (16%) down by about 100 basis points. Slower sales growth and inflation are now expected to lead to a 14%-15% operating margin in 2023, below the 17% we had forecast. We plan to lower our $233 fair value estimate for narrow-moat Williams-Sonoma by a high-single-digit percentage as we temper our operating margin forecast to reflect continued macroeconomic uncertainty and the ongoing consumer shift to services over goods, resulting in lower demand across the home furnishings industry. ![]()
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