Finance & Capital Management

Kmart is taking its long-running affiliation with March of Dimes to a new level this year with the help of America’s fiercest fitness expert.

Carlisle, Pa. -- Giant Food Stores and Martin’s Food Markets said they will begin paying all non-union workers a minimum of $9 a hour beginning in June.

The operator of 200 stores in Pennsylvania, Maryland, Virginia and West Virginia said the move was part of the company’s commitment to provide competitive wages.

"Our associates are the foundation of our success, and we have always believed in paying competitive wages to attract the best talent," said Tom Lenkevich, Giant/Martin’s president.

Scottsdale, Ariz. - Retailers and consumer goods manufacturers are spending to improve their omnichannel sales capabilities. While this may not be surprising given the current business environment, a new report prepared for JDA Software Group Inc. by PwC, “The Omnichannel Fulfillment Imperative,” reveals that only 16% of companies say, the present time, they can fulfill omnichannel demand profitably.

Oslo, Norway - Scandinavian multinational supermarket chain Rema 1000 will be leveraging Revionics lifecycle pricing solutions in all product categories across all of its retail stores. Utilizing advanced science and predictive analytics, Rema 1000 will be able to strategically manage pricing and consistently align it with brand image, offer promotions that are compelling and profitable and more accurately forecast and measure key financial metrics.

Aspiring musicians with big dreams but no way to pay for them now have options thanks to a new credit initiative launched at the nation’s leading musical instrument retailer.

Guitar Center, operator of 260 stores nationwide, and Synchrony Bank, formerly GE Capital Retail Finance, reached a multi-year agreement that allows Guitar Center to provide a private label credit card program. The program is expected to launch in the third quarter of 2015 and also includes a stipulation that Synchrony Bank acquire the assets of an existing card program.

Livonia, Mich. -- Pet Supplies Plus, the nation’s largest pet retail franchise with more than 300 locations in 25 states, announced it has signed six new franchise agreements to bring its neighborhood pet store concept to Boca Raton, Florida; Tampa, Florida; Stephenville, Texas; Elizabethtown, Kentucky; Hartland, Michigan and Greenville, South Carolina.
 

Dick’s Sporting Goods plans to spend $850 million over the next three years to add as many as 150 stores while growing total sales to as much as $9 billion with e-commerce contributing more than $1 billion.

Youngstown, Ohio -- The Picture People will open new studios in four Cafaro malls, according to the Youngstown, Ohio-based mall owner. The studios, which range in size from 1,800 sq. ft. to 2,700 sq. ft., will open by late May in Eastwood Mall (Niles, Ohio), Governor’s Square Mall (Clarksville, Tennessee), Huntington Mall (Barboursville, West Virginia) and Kentucky Oaks Mall (Paducah, Kentucky). In each case, this will be the first location for The Picture People in those respective states.