Finance & Capital Management

SCOTTSDALE, Ariz. — nGage Labs, Inc., a leading provider of in-store shopper engagement solutions for retailers, has appointed Peter Charness as president; Nancy Terzolani as SVP of client experience and Larry Negrich as VP of marketing. 

They will be charged with leading the company in its next phase of growth.

FRAMINGHAM, Mass. — Discount retailers TJ Maxx and Saks Off Fifth outlets plan to dive into e-commerce waters this year, according to reports. 

Washington, D.C. -- The National Retail Federation said the retail industry added 37,000 jobs in the month of July, with increases in general merchandise, food and beverage and building and garden supply stores.

Woonsocket, RI – CVS Caremark Corporation has reached an agreement in principle to pay a fine of USD $20 million to resolve an investigation by the Securities and Exchange Commission (SEC) into certain public disclosures, securities transactions and aspects of the purchase accounting adjustment related to the October 2008 Longs Drug Stores acquisition the company made during the third and fourth quarters of 2009.

New Delhi, India – The Indian government has eased its notoriously difficult restrictions on how foreign retailers must invest and source when doing business in the country. As reported by Reuters, foreign retailers will still have to source 30% of the products they sell locally, but now have five years to initially reach that goal and then have to meet it annually.

New York – The long-running legal dispute over whether J.C. Penney has the right to sell Martha Stewart Living products appears to be nearing a conclusion. The Wall Street Journal reports that lawyers for Macy’s, which is suing Martha Stewart Living Omnimedia alleging a breach of contract giving Macy’s exclusive rights to sell Martha Stewart Living, Martha Stewart Living Omnimedia, and Penney, which may face fines and/or a ban on selling Martha Stewart Living products, all gave closing arguments in New York State Supreme Court yesterday.

Left-leaning individuals in large urban areas find lots of reasons to dislike Walmart, so it is noteworthy when someone in a liberal stronghold forcefully sides with Walmart and personal freedom.
 
That was the case in Boston this week when the Boston Globe ran an article by Shirley Leung with the headline, “It’s time to say yes to Walmart.”

She acknowledged the familiar narrative put forth by those who seek to block Walmart’s expansion.

Surging home prices and 401K balances have millions of Americans feeling better about their personal balance sheets and the state of the economy, but Walmart’s core shoppers remain under duress and that could spell trouble for second quarter sales.
 

WARRENDALE, Pa. — Rue21, a leading specialty apparel retailer for young women and men, is trying out a new store format on for size, and about to give guys something to smile about in the process.

The retailer has opened its first RueGuy stores in Bay Shore, N.Y., Harlingen, Texas, and New Boston, Ohio. The approximately 6,000-sq.-ft. stores are the first of seven RueGuy stores slated to open across the U.S. during August. The company is on target to open approximately 20 RueGuy stores by the end of the year.

ST. LOUIS — Cereal maker Post Holdings has signed a definitive agreement to acquire Premier Nutrition, makers of the Joint Juice brand.

PNC is a rapidly growing marketer and distributor of premium protein beverages and foods under its Premier Protein brand and nutritional supplements under its Joint Juice brand.