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Strategy

  • Report: Apple to allow shoppers to finalize own in-store purchases

    New York City -- Apple will spend $900 million on its stores in fiscal 2012, up from $614 million this year, according to Tech Observer, which cited a new research note from UBS analyst Maynard Um.

    The report also said that that Apple plans to give shoppers the ability to complete their own in-store purchases via its iOS application for the iPhone. The new application will apply only to accessories and on-the-shelf items, and not more costly item like the iPhone, iPad, or Macs.

  • Walmart head merchant shares view

    BENTONVILLE, Ark. — Walmart chief merchandising officer Duncan Mac Naughton expressed optimism about the retailer’s prospects for the holiday season and beyond late Tuesday during comments at a Bentonville Bella Vista Chamber of Commerce function, which attracted more than 500 people.

  • Harris Teeter, Cardtronics team to roll out ATMs chainwide

    Houston -- ATM owner Cardtronics said Wednesday it has signed an agreement to provide ATM services to grocer Harris Teeter.

    As part of the agreement, Cardtronics has initially installed 100 ATMs for Harris Teeter in Florida, Maryland, North Carolina, South Carolina, Tennessee and Virginia. Additionally, the agreement provides Cardtronics the exclusive right to install ATMs in new Harris Teeter stores, as well as to transition all existing non-bank branch cash machines at Harris Teeter stores to Cardtronics' ATMs, over time.
     

  • Hhgregg profit, sales rise in Q2, on track to open 35 stores in fiscal year

    Indianapolis -- Electronics and appliance retailer Hhgregg reported Wednesday that net income for the quarter ended Sept. 30 rose to $6 million from $3.9 million in the year-ago period.

    Sales for the period rose 29% to $618.6 million. Same-store sales rose 1.5%, returning to positive growth after a 5% decline last quarter.

  • Citi Trends secures new credit facility

    Savannah, Ga. -- Citi Trends said Wednesday it has secured a new, five-year, $50 million credit facility through Bank of America to replace its prior $20 million credit facility.

    The new facility includes a $25 million uncommitted “accordion” feature that under certain circumstances could allow the company to increase the size of the facility to $75 million.
     

  • Totsy names new CTO and creative director

    NEW YORK —Totsy, a private sales site dedicated to offering exclusive deals to parents, babies and children, announced that it has named a new chief technology officer and a new creative director.

    The company has appointed Richard Minns as chief technology officer. Minns brings 15 years of corporate experience in technology and e-commerce, most recently from 1800FLOWERS.com.

  • Ikea ups solar presence to more than 50% of U.S. stores

    Conshohocken, Pa. -- Ikea announced on Wednesday plans to install solar energy panels at three additional U.S. locations, bringing the number of Ikea U.S. stores with a solar program to 23 – more than half of the home-furnishing retailer’s domestic presence.

  • RCS to facilitate closing of Priscilla of Boston stores

    New York City -- RCS Real Estate Advisors said Tuesday it has been retained by bridal retailer Priscilla of Boston to facilitate the closing of its business.

    According to Ivan L. Friedman, president and CEO of RCS, the company will facilitate the closing of all 20 Priscilla of Boston locations, effective Dec. 31, by negotiating cost-effective lease terminations or locating replacement tenants.

    Priscilla of Boston announced its closing in early September.
     

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