Strategy

Former H.H. Gregg EVP and COO Gregg Throgmartin has been name CEO at upstart cycling retailer BikeStreet.

Throgmartin resigned from HH Gregg after a 13 year career which saw him rise to become EVP and COO of the 228 store consumer electronics retailer. He joins BikeStreet, a company founded in 2012, as it embarks on an ambitious strategy to growth from 17 stores to more than 1,000 stores during the next seven years.

Armonk, N.Y. -- Kids 21, a children’s upscale apparel retailer operated by luxury fashion group Club21, will use IBM’s cloud, e-commerce and analytics software to deliver personalized experience while expanding its online presence across Asia-Pacific. When it launches in the third quarter, the new online site will increase Kids 21’s reach from four to more than 15 countries in the region.

After receiving more than 16,000 entries online and via Facebook, Staples has opened its “Make Your Idea Happen,” contest to the public to determine the $25,000 grand prize winner.

Framingham, Mass. -- Staples is letting the public help determine the top three winners of its “Make Your Idea Happen” contest, which allowed entrepreneurs to share their ideas for a chance to receive all the products they need to bring their business to life. The retailer received more than 16,000 entries online and via Facebook.

The contest was announced in early January, and entrants were asked to submit a 100 word or less overview of their idea. Staples narrowed the submissions down to 10 finalists.

The field of retail asset protection — like other aspects of the industry — is undergoing significant change as a host of complex new challenges related to data security and rapidly advancing technology join longstanding challenges related to workplace safety and shrink. 

Washington, D.C. -- The National Retail Federation (NRF) has urged Congress to pass the bipartisan Save American Workers Act, which would change the Affordable Care Act’s definition of full-time employment from 30 hours per week to 40 hours. NRF sent a letter to the House saying all votes related to the bill, H.R. 2575, would be considered key votes for the association’s annual scorecard.

Asset protection has been given a high priority at Family Dollar where the operator of more than 8,000 stores said it plans to equip each of its locations with electronic article surveillance (EAS) equipment from Checkpoint Systems.

Checkpoint’s technology is already in 3,500 stores and the rollout, said to be one of the fastest in the retail industry, is occurring at a clip of about 120 stores each week.

New York -- Liberty Media Corp. has entered into agreements to reduce its stake in Barnes & Noble. Liberty Media informed Barnes & Noble that while Liberty has sold the majority of its shares to qualified institutional buyers, it will retain approximately 10% of its initial $204 million investment, which could be converted to a 17% ownership stake.