NEW YORK, March 23, 2017 /PRNewswire/ --
The global retail sector is projected to rise to US$ 28 trillion by 2019, with average annual growth rate of 3.8% since 2008, according to Research and Markets. The sector represents 31% of the world's GDP and employs billions of people throughout the globe. Hyper and supermarkets account for 35% of retail direct sales with USA and China at the forefront. E-commerce is expected to show a CAGR of 23% between 2012 and 2019 in revenue and 12% for e-consumers. In terms of market trends, specific consumer behavior such as over-connectivity and the pursuit of healthier lifestyles are expected to shape the market in coming years. Petrone Worldwide, Inc. (OTC: PFWI), Christopher & Banks Corporation (NYSE: CBK), Vince Holding Corporation (NYSE: VNCE), Stage Stores Inc. (NYSE: SSI), New York & Company, Inc. (NYSE: NWY)
Recently there has been a focus on smaller 'Specialty Retail' stores, which sell a diverse range of products. According to a report by IBIS World, because of the industry's fragmented nature, it is not driven by product-specific trends but rather by broad macroeconomic variables. Over the five years to before 2016, rising income and employment have boosted demand throughout the retail sector.
Petrone Worldwide, Inc. (OTCQB: PFWI) is a leader in the hospitality industry with global operations capabilities, announced earlier today that, "the signing of a strategic alliance with Dewan & Sons. Dewan & Sons India, a leading Houseware articles export house with an established presence in the United States has appointed Petrone as the North American exclusive agent, with this strategic alliance to undertake direct sales and JIT distribution to all Dewan customers in North America."
"The value-added warehousing and distribution (VAWD), dedicated contract carriage (DCC), domestic transportation management (DTM) of PFWI coupled with JIT and lean inventory management will be a significant cost savings for Dewan and will create a projected $5,000,000+ in new revenue for PFWI adding dramatic value to the company and its shareholders," said Victor Petrone, CEO and founder of Petrone Worldwide. Petrone will be serving the following Dewan clients in North America: Wal Mart, Sam's Club, TJ Maxx, Home Goods, and Marshall's.
"We evaluated many companies to determine the functionality that would best fit our organization. Petrone is the ideal organization based on its ability to augment our current capabilities and its significant market strength in the logistics and warehousing segment, now with direct sales and service. This strategic alliance with Petrone creates increased real-time communication with our purchasing agents and creates a new service which is preferable, allowing reduced Minimum Order inventory. Dewan has a large array of high profile customers that we currently service. We have grown to a point that in order to expand and support the growing needs of our customers, we must partner with an organization such as Petrone. We are all very excited and look forward to working with the team. With the addition of these capabilities Petrone Worldwide is able to drive value for its customers through lower costs and faster time-to market," said Surender Gandhi, President of Dewan & Sons."
Christopher & Banks Corporation (NYSE: CBK) is a national specialty retailer featuring private-brand women's apparel and accessories. The Company offers its customers an assortment of clothing for everyday needs. Its merchandise assortments include designs of women's apparel, generally consisting of casual clothing, everyday basics, wear-to-work, leisure/active wear, and sleepwear in missy, petite and women sizes. The Company also offers a selection of jewelry and accessories, including footwear. The Company operates in the Retail Operations segment, which includes the operation of its retail stores, outlet stores, online and mobile. The Retail Operations segment includes activities generated by the Company's retail store locations (Missy Petite Women, Outlet stores, Christopher & Banks, and C.J. Banks), as well as the e-commerce business.
Vince Holding Corporation (NYSE: VNCE) is a global luxury brand best known for utilizing luxe fabrications and innovative techniques to create a product assortment that combines urban utility and modern effortless style. From its edited core collection of ultra-soft cashmere knits and cotton tees, Vince has evolved into a global lifestyle brand and destination for both women's and men's apparel and accessories. The Company operates in two segments: Wholesale and Direct-to-consumer. The Company's Wholesale segment consists of its operations to distribute products to various department stores and specialty stores in the United States and select international markets. The Company's Direct-to-consumer segment consists of its operations to distribute products directly to the consumer through its branded specialty retail stores, outlet stores and e-commerce platform.
Stage Stores Inc. (NYSE: SSI) operates 798 specialty department stores in 38 states and a direct-to-consumer channel under the BEALLS, GOODY'S, PALAIS ROYAL, PEEBLES and STAGE nameplates. The Company's stores, predominantly located in small towns and communities, and direct-to-consumer business offer a moderately priced, broad selection of trend-right, brand name apparel, accessories, cosmetics, footwear and home goods for the entire family. The Company's direct-to-consumer channel includes its e-commerce website and Send program.
New York & Company, Inc. (NYSE: NWY) is a specialty retailer of women's fashion apparel and accessories, and the modern wear-to-work destination for women, providing fashion that is feminine, polished, on-trend and versatile. The company recently announced that it is continuing to build its ever-growing partnership with actress and fashion entrepreneur, Eva Mendes. The specialty retailer today announced that the Eva Mendes Collection will be expanded to over 50 shop-in-shops and 19 Eva Mendes boutiques, in addition to a very strong online business.
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