Strategy

Thorofare, N.J. -- The ECR Shrinkage Group, an expert group focused on shrink, with the support of merchandise availability solutions supplier for the retail industry Checkpoint Systems, is launching an online benchmarking tool, which enables retailers to understand how well they are managing shrink compared to others and the relative strengths and opportunities of their loss-prevention program. The tool provides global benchmarks on the strategic, organizational and operational standards that underpin an effective shrink management strategy.

Williams-Sonoma president and CEO Laura Alber credited the strength of the company’s brands across retail and e-commerce for its performance in the fourth quarter ended Feb. 2.

Birmingham, Ala. — Bayer Properties has appointed Brad Bailey VP of business development. With more than 20 years of experience in the commercial real estate and retail industry, Bailey comes to Bayer from The Weitzman Group, where he held the position of senior VP and director of investment sales. His responsibilities there included consulting on acquisitions, dispositions, operations, leasing and financing.

Verifi, a leading provider of global electronic payment and risk management solutions for card-not-present merchants, and ReD (Retail Decisions), a leading global fraud prevention services company, have agreed to jointly develop new products and solutions to benefit CNP (card-not-present) merchants.

National Retail Federation SVP David French told the House Judiciary Committee in a letter this week that legislation is needed to level the playing field between local retailers and out-of-state competitors, as the NRF continues to push Congress to pass legislation that would require online and remote sellers to collect state and local sales taxes.

New York -- Ending a five-month saga, Men's Wearhouse said it would acquire Jos. A. Bank Clothiers for about $1.8 billion, or $65 per share in cash. As part of the deal, Jos. A. Bank will terminate its plan to acquire Eddie Bauer from Golden Gate Capital.
 
The boards of both companies unanimously  approved the transaction.

Publix Super Markets’ VP of distribution Richard Schuler is retiring May 2, after 40 years of service. Succeeding Schuler is Publix veteran Casey Suarez, who will assume the role May 3.

Smaller format stores are all the rage these days. Dollar General, which already operates nearly 12,000 stores, plans to open 700 more units this year. Walmart recently announced plans to accelerate growth of its smaller format stores by opening between 270 and 300 small stores, more than double the 120 to 150 store range it projected last fall. Even Target has gotten in on the action with plans to open its first Target Express store near downtown Minneapolis this summer.