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Top Retail News
Departmental Stores
Macy’s to award the sweetest tweet
NEW YORK (Jan. 28) Macy’s announced that it will award the most romantic tweeter with the gift of diamonds.
From Feb. 1 to Feb. 13, Twitter users who tweet the sweet messages using the hash tag #SweetestTweets, will be eligible to win a diamond pendant set. On Feb. 14, Macy’s said it will award the author of the most romantic tweet the grand prize of a three-stone diamond ring.
Sears recognized for online community program
New York City ( January 28, 2010 ) Sears’ MySears has been ranked No. 4 out of the top five branded communities and the No. 1 retail branded site in North America, according to study conducted by ComBlu on behalf of the Word of Mouth Marketing Association.
Sony, AT&T, YouTube and Bank of America were also in the top five.
Macy’s to cut 1,500 store-level jobs
Cincinnati ( January 28, 2010 ) Macy’s is said to be cutting 1,500 jobs effective March 6, according to a Bloomberg report, which cited two people familiar with the matter.
The affected jobs are store-level positions. Earlier this month, Macy’s said it was closing five of its namesake department stores, affecting about 307 employees, as it pares underperforming locations
Nordstrom to open Rack outlet in downtown Chicago
Seattle ( January 22, 2010 ) Nordstrom will open a Nordstrom Rack discount outlet in downtown Chicago this fall.
The 36,000-sq.-ft. store, located on East Chicago Avenue between North Michigan Avenue and North Rush Street, is due to open in fall 2010. It will be the second Nordstrom Rack location in downtown Chicago and its seventh in the Chicago area. The retailer operates a full-line store about a mile away on Michigan Avenue.
Drug Stores
Rite Aid reports same-store, total sales drops
Camp Hill, Pa. ( January 28, 2010 ) Rite Aid Corp. said Tuesday that same-store sales dipped 2.1% in January.
Total sales for the four-week period decreased 3.3% to $1.913 billion, compared with $1.978 billion for the same period last year.
Walgreens buys three pharmacies in Puerto Rico
San Juan ( January 22, 2010 ) Walgreens announced an agreement to acquire three El Amal pharmacies in Puerto Rico. The pharmacies located at Rio Grande Shopping Center, Salinas Shopping Center, and Plaza Las Americas are expected to transition to Walgreens by the end of February.
In addition, Walgreens has agreed to purchase prescription files associated with 11 El Amal pharmacies.
Apparel Stores
Bebe stores enters into strategic licensing agreement for handbag, leather collection
New York City ( January 28, 2010 ) Bebe Stores has entered into a three-year strategic licensing agreement with Accessory Network Group, LLC, to design, manufacture and distribute a full lifestyle offering of handbags and small leather goods to select department & specialty stores worldwide, as well as Bebe retail stores and bebe.com.
The collection, slated to launch in fall 2010, will be targeted for wholesale distribution to upscale stores such as Macy’s, Lord & Taylor, Dillard’s and Nordstrom, as well as better specialty stores and select e-commerce sites.
Destination Maternity reports improved Q1 results on lower sales
Philadelphia ( January 28, 2010 ) Destination Maternity Corp. said Thursday that its net income for the 2010 first quarter ended Dec. 31 was $1.3 million, compared with a net loss of $46.9 million in the year-ago period.
Net sales for the quarter dipped 0.8% to $133.8 million, from $134.8 million for the first quarter of fiscal 2009. The sales dip was attributed to a decrease in comp-store sales partially offset by better performance from the retailer’s leased department relationships, increased Internet sales and increased sales from international franchise relationships.
A&F partners with Digby to launch mobile storefront
Columbus, Ohio ( January 27, 2010 ) Abercrombie & Fitch signed a deal with mobile commerce developer Digby signed a deal to build the retailer’s cellphone storefront.
Digby will manage and operate the cellphone-optimized Web sites for the clothing retailer’s Abercrombie & Fitch and Hollister Co. brands
K&G Fashion Superstore selects loss prevention, security solution
Atlanta ( January 27, 2010 ) K&G Fashion Superstore, a subsidiary of The Men’s Wearhouse in the United States and an affiliate of Moore’s Clothing for Men in Canada, has selected ADT Security Services to provide loss prevention and security solutions for all of its 107 stores nationwide.
The retailer is replacing existing anti-theft systems with ADT’s Sensormatic anti-theft solutions to help protect merchandise and limit losses due to shoplifting and theft.
Filene’s Chapter 11 plan confirmed
Wilmington, Del. ( January 26, 2010 ) Abacus Advisors LLC announced Tuesday that FB Liquidating Estate (formerly known as Filene’s Basement) confirmed its chapter 11 plan and will soon make an initial distribution to unsecured creditors of the bankrupt retailer, whose trade name, leases and other assets were sold to an affiliate of Syms Corp. last June for approximately $64 million.
The announcement follows an earlier confirmation of the Joint Plan of Liquidation of FB Liquidating Estate by Judge Mary F. Walrath in the U.S. Bankruptcy Court for the District of Delaware.
Sheplers Western Wear names CEO
Wichita, Kan. ( January 26, 2010 ) Former QVC executive Bob Myers has been hired as CEO for Sheplers Western Wear, according to a report by the Wichita Business Journal.
Myers replaces Dennis O’Brien, an operating partner at Gryphon Investors, who has been acting CEO since September. Gryphon is the San Francisco-based private-equity firm that owns Sheplers.
Home Improvement & Office Products
Canada’s Rona details growth strategy
Toronto ( January 28, 2010 ) Rona, Canada’s biggest home-improvement chain, plans to boost earnings per share by 10% to 15% over the next two years and bulk up its national presence by adding new stores and bringing some of its other chains under one banner.
The company, which has about 700 stores across Canada, said during an investor presentation that it would also continue its aggressive growth strategy by looking for further acquisition opportunities.
Williams-Sonoma CEO to retire
San Francisco ( January 27, 2010 ) Williams-Sonoma said its longtime chief, Howard Lester, will retire from the posts of CEO and chairman after 31 years.
After his retirement in May, Lester will continue to advise the company until December 2012 as chairman emeritus.
Home Depot to lay off 1,000 workers, shutter three stores
Atlanta ( January 26, 2010 ) On the heels of Monday’s announcement that Sam’s Club would be slashing 11,000 jobs, Home Depot said Tuesday it is cutting 1,000 jobs and closing three underperforming pilot stores.
The stores, affecting about 100 jobs, include a small-format store in Wilson, N.C.; a temporary hurricane-recovery outlet in Waveland, Miss.; and a clearance outlet in Austell, Ga.
Rooms To Go selects TD Retail Card Services for expanded card program
Mahwah, N.J. ( January 26, 2010 ) Furniture retailer Rooms To Go said Tuesday it has expanded its private-label credit-card program with TD Retail Card Services to include 53 stores in three southeastern states.
Under the agreement, the Mahwah, N.J.-based business unit of TD Bank, N.A., will now direct all facets of the program for the 130-unit chain’s showrooms in metro Atlanta, northern Florida and Louisiana.
Tuesday Morning reports rise in profits, sales, comps in Q2
Dallas ( January 26, 2010 ) Tuesday Morning Corp. reported Tuesday that net sales for the second quarter increased 6.2%, $289.6 million from $272.7 million in the year-ago period.
Comparable-store sales rose 5.1% for the quarter. Net income for the second quarter ended December 31, 2009 was $18.5 million, compared with net income of $12.7 million for the same period last year.
Lowe’s card offers points to small business customers
Las Vegas ( January 22, 2010 ) Mooresville, N.C.-based Lowe’s Cos. teamed with American Express Open to launch the Lowe’s Business Rewards Card.
The key feature of the new payment product is the ability to offer small business customers reward points. It’s the first rewards program for Lowe’s small business credit customers.
Discount Stores
Wal-Mart revamps global sourcing structure
New York City ( January 28, 2010 ) Trading company Li & Fung Ltd. said Thursday it signed a non-exclusive sourcing deal with Wal-Mart Stores with expectations that the chain could buy $2 billion worth of goods through the Hong Kong firm in the deal’s first year, according to Bloomberg. The company, which sources products for other U.S. retailers, has been doing business with Wal-Mart as a wholesaler, but this is its first direct sourcing deal.
Wal-Mart said the alliance with Li & Fung was one of several related moves designed to position the company to leverage its global scale to reduce costs of goods, accelerate speed to market, and improve the quality of products.
Big Lots, other retailers to open in south Raleigh shopping center
January 26, 2010, Discount retailer Big Lots has signed a deal to open its 10th location in the Triangle at the North/South Station shopping center in south Raleigh.
Big Lots will take 33,000 square feet left vacant when Wal-Mart moved into its new, bigger location at the Shoppes at Garner shopping center in 2008.
Kohl’s achieves 100% green power
Menomonee Falls, Wis. ( January 26, 2010 ) Kohl’s Department Stores announced Tuesday that the company has purchased enough green power to meet 100% of its purchased electricity use with an annual green power purchase of nearly 1.4 billion kilowatt-hours (kWh).
With this latest purchase of renewable energy, Kohl’s increased its ranking to No. 2 overall and among Fortune 500 companies on the U.S. Environmental Protection Agency’s listings of top green power purchasers.
The Clinic at Walmart opens in Florida
Rockledge, Fla. ( January 25, 2010 ) The Clinic at Walmart, operated by Wuesthoff Health System, has begun a series of openings in Florida.
Its first location, which opened in December in the Walmart Supermarket in Merritt Island, marks the first of five clinics to be owned and operated by Wuestoff Health Systems.
Grocery Stores
Whole Foods offers discounts to healthy employees
Austin, Texas ( January 27, 2010 ) Whole Foods Market has announced a program called The Team Member Healthy Discount Incentive to encourage employees to live a healthy lifestyle.
The program offers increased discounts for full- and part-time employees who do not use nicotine products and satisfy certain healthy biometric criteria for blood pressure, total cholesterol (or LDL) levels and Body Mass Index (BMI).
Safeway, Excentus settle over gas rewards program
Pleasanton, Calif. ( January 27, 2010 ) Safeway and Excentus Corp said on Wednesday that they have settled all outstanding litigation between them and entered into a settlement and licensing agreement.
Excentus sued Safeway in June, alleging the grocery chain wrongly used the privately held company’s patents and other intellectual property to develop Safeway’s PowerPump gasoline rewards program.
Aldi set for big push into the local grocery market
Fort Worth, Texas ( January 26, 2010 ) With several locations nearing completion, officials of Aldi discount grocery chain announced opening dates for the store’s 11 new locations slated for Tarrant County (Fort Worth), Texas.
Report: Bankruptcy judge approves sale of Penn Traffic
Syracuse, N.Y. ( January 26, 2010 ) A U.S. Bankruptcy Court judge has approved the sale of bankrupt The Penn Traffic Co. to Tops Markets, according to a report by Syracuse.com.
Judge Peter J. Walsh signed a modified sale agreement presented to him by Penn Traffic lawyers late Monday.
Whole Foods’ Mackey pay valued at $653,671 in 2009
Austin, Texas ( January 26, 2010 ) Whole Foods Market CEO John Mackey’s compensation grew in 2009 according to a report by the Associated Press, but donated the gains to a farm-animal welfare group, standing by his commitment to keep his pay low.
Mackey voluntarily cut his salary to $1 in 2007 as the company entered a turnaround effort. He also elected to forgo earning any future cash compensation, stock awards or other options awards.
H-E-B names president
San Antonio ( January 25, 2010 ) H.E. Butt Grocery Co. appointed its chief strategic officer to serve as company president, while current lead Bob Loeffler retires.
Craig Boyan has been named H-E-B president and COO. Loeffler, who’s led the company for the last seven years, will retire, but first volunteered to cover chief administrative duties for at least two years.
Restaurant
Arby’s CEO departs company
Atlanta ( January 28, 2010 ) Tom Garrett, a longtime Arby’s executive in charge of the struggling restaurant chain, is leaving the company.
Roland Smith, president and CEO of parent company Wendy’s/Arby’s Group, will step into the role on an interim basis while the company searches for a permanent replacement. The company said Smith will attempt to lead an effort to reinvigorate sales.
NBA’s LeBron James teams with McDonald’s
Cleveland ( January 28, 2010 ) NBA superstar LeBron James has agreed to a multiyear partnership with McDonald’s Corp., adding the global fast-food giant to his list of corporate sponsors.
James will be part of TV, print and online advertising campaigns for McDonald’s, which operates over 31,000 restaurants in 119 countries.
Red Mango announces expansion plans
Dallas ( January 28, 2010 ) Red Mango has signed 42 franchisees to open a total of 219 locations.
Development agreements included further expansion in California; Utah; Nevada; Washington; Illinois; and New York, as well as entry into Arkansas; Colorado; Indiana; Kansas; Massachusetts; Missouri; New Jersey; Louisiana; Minnesota; Texas; Virginia; Wisconsin; and Washington, D.C.
O’Charley’s closes $45M credit facility
NASHVILLE, Tenn. (Jan. 27, 2010) O’Charley’s Inc. said Wednesday it has amended its revolving credit facility that was set to expire next year, reducing the amount to $45 million, extending its maturity and changing covenants for additional flexibility.
The operator or franchisor of 372 restaurants under such casual-dining brands as O’Charley’s, Stoney River Legendary Steaks and Ninety Nine Restaurants, O’Charley’s closed the deal with Bank of America, Regions Bank and Wells Fargo Securities, it said Wednesday. The company’s new $45 million facility was reduced from $83 million, and will now mature in 2013, rather than October of next year.
Starbucks’ Schultz earned nearly $15 million in 2009
New York City ( January 25, 2010 ) Starbucks Corp. CEO Howard Schultz received compensation the company valued at nearly $15 million during the past fiscal year, an increase of nearly 54% as the company’s profit soared after it cut costs and jobs, according to a regulatory filing.
Schultz’s base salary declined nearly 46% to $643,594 after he requested the coffee company’s board cut his salary to $6,900. He received the reduced salary for only part of the year, from April 1 until Nov. 30. The fiscal year that is covered in the filing submitted Friday afternoon to the Securities and Exchange Commission ended Sept. 27.
Johnny Rockets appoints store development executive
Lake Forest, Calif. ( January 22, 2010 ) Johnny Rockets announced the appointment of Carl Arena as senior VP development, continuing its aggressive growth plan.
Arena will work closely with new CEO John Fuller and the heads of international and domestic franchising, to develop strategic growth plans for the global restaurant chain.
McDonald’s Q4 profit up 23%
Oakbrook, Ill. ( January 22, 2010 ) McDonald’s Corp. reported a 23% increase in fourth-quarter earnings, helped by same-store sales increases across all regions.
The fast-food giant’s profit totaled $1.22 billion for the quarter ended December 31, 2009, up from $ 985.3 million a year earlier. Revenue increased 7% to $5.97 billion. Same-store sales rose 2.3% globally.
Electronics Stores
Hhgregg to hire 100 positions
Indianapolis ( January 25, 2010 ) Hhgregg expects to hire about 50 employees for each new store.
Hhgregg expects to hire about 50 employees for each new store
Dollar Stores, Warehouse Club & Other Retailers
Tractor Supply reports Q4 profit surge, beats Street
Brentwood, Tenn. ( January 28, 2010 ) Tractor Supply Co. reported late Wednesday that its profit jumped 55% in the fourth quarter as sales rose and it got a boost from the way it calculates the value of its inventory.
In the quarter that ended Dec. 26, Tractor Supply earned $38.3 million, compared with a profit of $24.7 million in the year-ago period.
Report: Movie Gallery to file bankruptcy
Wilsonville, Ore. ( January 28, 2010 ) A late Wednesday report by Wall Street Journal said that Movie Gallery will file for Chapter 11 bankruptcy as early as next week.
The filing will mark the second time in two years the owner of Hollywood Video stores has sought protection from creditors. Movie Gallery has not yet responded publicly, but WSJ cited people familiar with the matter as saying Movie Gallery could seek Chapter 11 protection from creditors as soon as Tuesday of next week, and that it could try to close about two-thirds of its outlets, or 1,800 stores. Those closures could lead to significant job losses at the company, which employs about 21,000 people.
United Natural Foods awarded EPA’s Energy Star Rating for its distribution facility
Providence, R.I. ( January 28, 2010 ) United Natural Foods’ Chesterfield, N.H., distribution center has been awarded the U.S. Environmental Protection Agency’s Energy Star rating, marking it as one of the most efficient distribution facilities in the nation for superior energy efficiency and environmental protection. Energy Star is a leading national metric for evaluating building energy efficiency.
To qualify, the Chesterfield facility had to place among the top 25% of the most energy-efficient facilities in the U.S. Buildings that earn the Energy Star rating typically utilize 35% less energy and emit 35% less CO2 into the atmosphere when compared with average buildings. Additionally, the facility meets or exceeds standards for thermal comfort, indoor air quality and luminance levels.
JDA Software completes acquisition of i2 Technologies
Scottsdale, Ariz. ( January 28, 2010 ) JDA Software Group has completed the acquisition of i2 Technologies in a transaction valued at approximately $604 million.
JDA said the move solidifies its position as one of the leading providers of supply chain management and pricing solutions, with the addition of i2’s 400-plus customers and robust, patented manufacturing, supply chain, retail and transportation solutions.
Report: Borders cuts corporate staff by 10%
New York City ( January 28, 2010 ) Borders has let go 124 corporate employees, about 10% of its corporate staff, the New York Times reported.
The company, which announced the resignation of its chief executive, Ron Marshall, on Tuesday, also laid off 40 workers in two warehouse facilities in Nashville, Tenn., and Mira Loma, Calif., the report said.
Yankee Candle exec leaves company
Deerfield, Mass. ( January 27, 2010 ) A former executive from Bath & Body Works is leaving Yankee Candle Co., where has he spent more than four years.
Yankee Candle said in a recent regulatory filing that Richard Ruffolo, its senior VP brand marketing and innovation, is scheduled to depart the company on Feb. 3.
Golfsmith details store plans for 2010
Austin, Texas ( January 27, 2010 ) Golfsmith International Holdings discussed plans on Wednesday to open four new stores in 2010 and retrofit several additional stores.
“In 2009 we experienced solid market share growth and dramatically improved cash flow in a tough economic climate,” said Marty Hanaka, president and CEO of Golfsmith. “We know that our new stores will inspire golfers more than any other golf retailer to play better and enjoy life more. We continue to build momentum and these new stores are just the beginning and are a key part of our strategic growth plans.”
Dick’s Sporting Goods ups Q4, 2009 profit outlooks
Pittsburgh ( January 27, 2010 ) Dick’s Sporting Goods lifted its fourth-quarter and full-year profit outlook Wednesday after sales jumped late in the year.
Dick’s said sales at stores open at least a year began to improve during the last week of November and grew stronger over the crucial holiday selling period.
Costco named 2009 Sustainable Grocer of the Year
Indianapolis ( January 27, 2010 ) SustainableGrocer.com, which monitors sustainability practices within the food and grocery retail sector, has selected Costco as the 2009 Sustainable Grocer of the Year.
SustainableGrocer.com found that Costco has proven to be an industry leader in the following areas: Efforts in energy reduction; substantial organic food offerings; recycling programs; buying practices; and corporate social responsibility.
Netflix profit surges 36% in Q4
San Francisco ( January 27, 2010 ) Netflix’s fourth-quarter profit grew 36% as its DVD-by-mail service surpassed 12 million subscribers.
The results announced Wednesday reflect the growing popularity of Netflix plans that bundle DVD rentals with unlimited video streaming over the Internet for as little as $9 per month.
Former Borders CEO to lead A&P
Montvale, N.J. ( January 27, 2010 ) The Great Atlantic & Pacific Tea Co. announced that Ron Marshall will assume the role of president and CEO, effective Feb. 8.
Marshall joins the supermarket chain from Borders Group, where he most recently served as CEO, president and director. He has also worked in executive positions at Nash Finch and Pathmark.
Disney Store names North American marketing VP
Pasadena, Calif. ( January 27, 2010 ) Disney Store has named Damon Whiteside VP marketing for Disney Store North America.
In his new role, Whiteside will oversee key global marketing initiatives and lead the North American marketing strategy through in-store brand positioning, franchise and synergy development.
Sherwin-Williams profit up 30% in Q4
Cleveland ( January 27, 2010 ) Sherwin-Williams Co. announced that its fourth-quarter profit rose 30% as it cut costs, but sales of its popular paint products slowed, dragging down revenue.
Chairman and CEO Christopher M. Connor said the company was “encouraged by our earnings performance in the last half of the year resulting primarily from the appropriate steps taken by our operating segments to control costs and improve efficiencies.”
Blockbuster rolls out RedPrairie HR solution
Milwaukee ( January 26, 2010 ) RedPrairie Holding said Tuesday that Blockbuster has completed its rollout of RedPrairie’s Execution Management solution in 500 stores.
Blockbuster completed the rollout in 10 weeks, and said it plans to implement the solution in its remaining stores.
Borders chief resigns
Ann Arbor, Mich. ( January 26, 2010 ) Borders Group said Tuesday that Ron Marshall has resigned as CEO, president and director, effective immediately.
The book retailer said that Marshall is leaving to assume the post of CEO at another publicly held retailer. He will assist Borders in the process of transitioning to new leadership.
Sam’s Club to shed 11,000 jobs as it outsources in-store sampling duties
Bentonville, Ark. ( January 25, 2010 ) Wal-Mart Stores will cut about 11,200 jobs at Sam’s Club warehouses as it turns over the task of in-store product demonstrations to Shopper Events, an outside marketing company.
The cuts represent about 10% of the warehouse club operator’s 110,000 staffers across its 600 stores. That includes 10,000 workers, mostly part-timers, who offer food samples and showcase products to customers. The company also eliminated 1,200 workers who recruit new members.
General
NRF: Job creation key to retail turnaround
New York City ( January 28, 2010 ) Following President Obama’s State of the Union address Wednesday night, the National Retail Federation issued a statement saying it welcomed the president’s emphasis on job creation, and that jobs are the key to economic turnaround for retail.
“President Obama’s focus on the economy and job creation needs to be Washington’s highest priority,” said NRF president and CEO Tracy Mullin.
Report sees big uptick in use of ‘smart’ electricity meters
Scottsdale, Ariz. ( January 28, 2010 ) “Smart” electricity meters, which enable two-way communication between the meter and the utility, and may enable greater consumer control over consumption, are being deployed at an increasing pace, especially in North America and Europe.
According to a new study from ABI Research, the number of smart electric meters deployed worldwide will rise from a 2009 level of 76 million to about 212 million in 2014.
Report: 33% of online shoppers reported Web slowdowns during holiday season
Detroit ( January 27, 2010 ) A third of online shoppers had a bad experience on a retail Web site during the recent 2009 holiday shopping season and 15% found the problem to be “unacceptable,” according to a survey conducted by Equation Research on behalf of Gomez, whose services test and monitor the performance of Web sites.
These bad online experiences caused nearly one in five online shoppers to shop at another site. In general, 41% of online shoppers will only tolerate one or two bad online experiences before abandoning a retailer’s Web site, the report found.
New retail, FBI partnership provides crime retail data to law enforcement officers
Washington, D.C. ( January 27, 2010 ) Hundreds of thousands of law enforcement officers around the country will gain instant access to information on retail crime through a new partnership between retailers and the Federal Bureau of Investigation, the National Retail Federation announced today.
Through the FBI’s Law Enforcement Online network (leo.org) federal and local law enforcement will be able to directly connect to the retail industry’s Law Enforcement Retail Partnership Network, or LERPnet (lerpnet.com), a secure national database where retailers track and report retail crimes.
Weekly sales rise 1.9%
New York City ( January 26, 2010 ) A report released Tuesday by the International Council of Shopping Centers and Goldman Sachs said that chain-store sales for the week ended Jan. 23 rose 1.9% from the year-earlier period.
On a week-over-week basis, sales fell 2.5%.
Forecast: Outlook improved for 2010
Columbus, Ohio ( January 1, 2008 ) Retail Forward released its economic forecast Tuesday, predicting that retail sales will show quarter-by-quarter improvement in 2010 and approach long-term average growth rates by the end of the year.
A Kantar Retail company, Retail Forward’s 2010 forecast for retail sales excluding the auto and fuel channels is an increase of 1.5% to 2.0% in the first two quarters of the year and a step up to 3.0% to 4.0% growth in the second half of the year as job and income growth start to re-emerge.
NRF: U.S. retail sales to rise 2.5% for 2010
New York City ( January 26, 2010 ) The National Retail Federation reported Tuesday it has forecast that U.S. retail industry sales should rise 2.5 % this year.
The announcement is an indication that retail has survived the worst of the downturn and can expect that the improvements in the housing and job markets will bolster shoppers’ confidence, according to the NRF.
Report: 51% of consumers used mobile for in-store holiday shopping
New York City ( January 25, 2010 ) More than half (51%) of consumers across 11 countries used their mobile phones during the holiday season for in-store activities, such as comparison shopping and getting peer feedback, product information and coupons, according to Motorola’s Enterprise Mobility Solutions annual research study.
The news indicates the increasing importance for retailers to adopt mobile shopper technology strategies to remain competitive.
Coupon redemption up 27% in 2009
Winston-Salem, N.C. ( January 25, 2010 ) Annual coupon use is on the rise for the first time since 1992, according to a report by Inmar, a promotion transaction settlement provider.
For the first time in 17 years, consumers used more coupons than they did the year before, with 3.3 billion consumer packaged goods coupons redeemed, an explosive 27% increase over the 2.6 billion redeemed in 2008
Transition team of N.J.’s new governor cites Xanadu’s ‘failed business model’
New York City ( January 25, 2010 ) Xanadu, the controversial, long-delayed retail and entertainment complex in New Jersey’s Meadowlands Sports Complex, “appears to be a failed business model,” according to a gaming, sports and entertainment report released Friday by the transition team of the state’s new governor, Chris Christie, The Record reported. Consequently, New Jersey needs to tell the owners to “open or surrender the property,” the report said.
Accruent acquired by Vista Equity Partners
Santa Monica, Calif. ( January 25, 2010 ) Accruent, a leading provider of Enterprise Location Management (ELM) solutions, announced that it has been acquired by Vista Equity Partners. Vista, a private-equity firm with over $2.5 billion in committed capital, invests in private and public software and software-enabled companies, focusing on successful organizations committed to maintaining industry leadership.
“Vista is the right business partner for Accruent because they share our focus on delivering exceptional long-term value to customers, and they have a unique strategy for driving operational improvement,” said Mark Friedman, CEO of Accruent. “Today’s announcement marks an important milestone in our maturity as a company and the start of a new chapter in our growth. Vista’s investment is a validation of our progress to date and provides the resources and expertise to take Accruent to the next level.”
Report: Independent stores had happy holiday
New York City ( January 22, 2010 ) Independent stores nationwide seem to have done as well or better than the chain-dominated retail industry during the 2009 holidays, according to a survey issued Thursday.
The Institute for Local Self-Reliance in Washington, D.C., said sales were up 2.2 percent in November and December versus the same period in 2008 among roughly 1,800 independent businesses nationwide that took part in its survey.
Coldwater Creek closing downtown Seattle store
New York City ( January 22, 2010 ) Coldwater Creek is closing its downtown Seattle store after 10 years to focus more on stores in suburban markets, the Puget Sound Business Journal reported.















