Retailnet.com: Retail Industry News
The latest Retail Industry headlines from Retailnet.com, a subsidiary of Lebhar-Friedman, Inc. *Updated Daily*
- Sears Submits Draft of Deal to Buy Restoration Hardware
Sears Holdings Corp. reported Friday that it has submitted a draft acquisition agreement to the furniture retailer Restoration Hardware Inc. that offers to pay its stockholders $6.75 per share in cash through a tender offer. The draft agreement, which was submitted Wednesday, was disclosed in a - Target, Wal-Mart, Macy's Top List of Favorite Holiday Ads
TV ads are catching shoppers' attention in creative ways this year, and according to a survey conducted for the Retail Advertising and Marketing Association (RAMA) by BIGresearch, the top three holiday television advertisements come from Target, Wal-Mart and Macy's. Retailers rounding out consumers' - Deb Shops Names Questrom as Nonexecutive Chairman
Veteran retailer Allen Questrom, the former CEO of J.C. Penney, Federated Department Stores and Barneys New York, has been named nonexecutive chairman at Deb Shops Inc. The announcement was made by Prospect Capital Corp., which has invested in the takeover of the formerly public Deb Shops this - CompUSA Unveils Site to Answer Customer Concerns
CompUSA, which recently announced that it is shuttering its 103 retail stores, has created a Web site to help customers find information related to the company's customer-service programs and policies. The Web site, www.compusaconsumerhelp.com, according to the company, provides information on - Safeway Outlines Growth Vehicles
Safeway said on Thursday that it will introduce three new growth vehicles to drive 2008 earnings: experimenting with a new store format, monetizing two of its exclusive product lines and leveraging its health care knowledge, according to a report on supermarketnews.com.Speaking at an investors - Claire's Names Exec VP
Claire's Stores has hired James Conroy to serve as executive VP of the company. Conroy will oversee global strategic planning and implementation, information technology and international franchising and joint ventures, with each senior VP responsible for these areas reporting to him directly. - Wal-Mart Launches Site to Help Men Shop for Women
Wal-Mart has launched helpaguybuy.com to help men find the perfect gifts for the women in their lives. The Web site takes visitors through a series of questions designed to determine the type of woman for whom they shopping. The site then displays a suggestion of gift ideas to match the woman's - New CFO Named at Shopko
Shopko on Thursday announced the appointment of Mary Meixelsperger to the position of senior VP and CFO.Meixelsperger will be responsible for accounting, treasury, tax, planning and audit activities for the retailer.Meixelsperger joined Shopko in August 2005 as VP, treasurer and was promot - Signs of Desperation?
In a page from an old Kmart playbook, Macy's said that beginning Dec. 21 at 7 a.m., seven of its stores in the New York metropolitan area, including its flagship store in Manhattan, will be open around the clock until 6 p.m. on Christmas Eve. Meanwhile, the Queens Center Mall location will begin 24- - Talbots Announces Executive Appointments
As part of its strategy to strengthen and reinvigorate its core brand, The Talbots Inc. on Thursday announced that it has named two senior executives with extensive merchandising and design expertise. The company appointed Michael Smaldone as chief creative officer of the Talbots brand. He most - Safeway Predicts 2008 Growth
Safeway Inc. predicted at a analysts and institutional investors conference on Thursday that strong sales at its revamped "lifestyle" stores and cost-cutting measures will help drive earnings growth in 2008.Safeway said strong contributions from the stores will help same-store sales grow 3% to - JoS. Bank 3Q Profit Up
JoS. A. Bank Clothiers Inc. on Thursday said fiscal third-quarter net income rose 29%, beating Wall Street expectations, as sales rose.Profit for the quarter ended Nov. 3 rose to $7.1 million from $5.5 million in the prior-year period. Revenue rose 10% to $131.3 million from $119.5 million last - Citi Trends President to Retire
Citi Trends Inc. said Wednesday that company president and chief merchandising officer George A. Bellino will retire in the spring or summer of 2008.The value--priced apparel company said it will start a search for a new chief merchandising officer immediately.Bellino has been in his curre - Costco Profit Up 11%
Costco Wholesale Corp. said Thursday its fiscal first-quarter profit climbed 11%, partly on solid membership-fee growth, to meet Wall Street's expectations.For the period ended Nov. 25, the company reported earnings of $262 million compared with $236.9 million in the prior year.Quarterly rev - Children's Place Names CFO
The Children's Place Retail Stores Inc. said Wednesday it promoted its senior VP of finance to the position of CFO and principal accounting officer. The appointment of Richard Paradise, 45, was effective Dec. 6, after the company became current in all of its Securities and Exchange Commission filing - Staples Names TJX Chief to Board
Staples Inc. on Wednesday said it named the CEO of TJX Cos. to its board of directors. The appointment of Carol Meyrowitz, president and CEO of TJX Cos., brings the number of board members to 12. - Mervyns President Steps Down
Rick Leto has resigned as president and chief merchandising officer of Mervyns LLC, effective immediately, the company said Tuesday. No reason was given for Leto's departure, but in the announcement a Mervyns board member, Thomas Taylor, thanked him for three years' service to the company as it - GameStop Opens Store, Tournament Center
GameStop Corp. said Tuesday it has opened its first combined store and game tournament center. The 4,000-sq.-ft. center, in San Jose, Calif., will have video-game tournaments most weekends and includes 24-networked game stations. The company will hold its first tournament at noon Saturday. It w - Pep Boys Names New Board of Directors Member
The Pep Boys – Manny, Moe & Jack announced that Dr. Irvin D. Reid has joined its board of directors. Dr. Reid is president of Wayne State University, an urban research university located in Detroit. He also serves as a director of Mack-Cali Realty Corp. and Handleman Corp., and sits on the - Tesco Plans First San Francisco Store
Tesco has signed a deal to open a Fresh & Easy Neighborhood Market as part of a residential development in the Bayview area of San Francisco. The 15,000-sq.-ft. store will be part of a 360-unit condo project that's due to break ground on Dec. 13. Tesco is also in talks to open a distributio - Collective Brands Names CEO
Collective Brands Inc. said Wednesday it had named Gregg Ribatt to take over as CEO and president of its subsidiary, The Stride Rite Corp. Ribatt will start Jan. 7, overseeing the operation of 300 Stride Rite stores and developing its Stride Rite, Keds, Saucony and Sperry Top-Sider brands. - Lowes Foods to Sell Event Tickets
Lowes Foods is opening 58 Ticketmaster retail ticket center locations in stores across the state of North Carolina. The partnership with Ticketmaster is the first of its kind for Lowes Foods.The first 15 Lowes Foods Ticketmaster locations are scheduled to open and begin selling tickets on Satur - Amazon.com Enhances Payment Options
Amazon.com has signed an agreement to make a Bill Me Later payment option available on the Web site. The company also announced it is making an equity investment in Bill Me Later, Inc. Bill Me Later is among the most widely adopted alternative payment technologies for the largest online retaile - Read All About It: Payment Card Industry Data Security Standards
The Payment Card Industry (PCI) Data Security Standards (DSS) were created out of a growing need to protect the confidential information of consumers against the vulnerability of potential security threats. Businesses th