Retail

New York – Saks Inc. has settled lawsuits from investors related to its proposed buyout by Hudson’s Bay Company (HBC). According to Bloomberg, Saks has reached an agreement that reduces the termination fee it would pay HBC in the event the purchase does not happen and reduces the time Saks has to seek alternative offers

Online retailer Rue La La will be leveraging Artisan Mobile’s Artisan Optimize platform to enhance its mobile technology.

"We are excited to be working with Artisan Optimize to directly impact the results of our mobile app," said Gerry McGoldrick, VP, Marketing, Rue La La. "Through their technology we are learning what drives conversions and, more importantly, we are able to make changes quickly and easily to keep consumers engaged."

Charleston, S.C. – One-third (33%) of U.S. families are making less money as a result of job loss, moving to a part-time job and/or working at a lower-paying job.

In addition, according to three recent consumer surveys from America’s Research Group (ARG), 40% of parents are trying to save as much money as they can for their children's college education, 38% of families did not take a vacation this year of four days or longer, and 44% of parents will do most of their back-to-school apparel shopping in December when the deals are better.

Dallas — Cypress Equities has acquired Eden Prairie Center in Eden Prairie, Minn., an upscale suburb of Minneapolis. The transaction was carried out by a fund managed by Cypress’ real estate investment management group. Eden Prairie Center is a 1.1-million-sq.-ft., two-level, enclosed shopping center. The mall features more than 100 shops and restaurants. Annual shopper visits exceed 12 million.

Despite many forecasts of a gloomy holiday season for retailers, Deloitte is predicting an increase in consumer spending.

Baltimore -- Under Armour announced that COO Kip Fulks has added president of product to his current responsibilities, while Henry Stafford is now serving as president of North America.
   
In the new positions, Fulks will further leverage his leadership experience in product, innovation, supply chain and IT, and Stafford will oversee North America wholesale, retail marketing, global retail and global E-Commerce.
 

Dubuque, Iowa — Mid-America Real Estate Corp.’s Investment Sales team recently brokered the sale of a large portion of the 136,398-sq.-ft. Asbury Plaza in Dubuque, Iowa. The Cafaro organization made the acquisition for $12 million.

The community shopping center is about two miles from Cafaro’s 700,000-sq.-ft. Kennedy Mall.

The community shopping center features national anchor retailers including Michaels, Bed Bath & Beyond and Petco. Shadow anchors include Hy-Vee Grocery Store, Kohl’s and AMC Theater.

Following third quarter results, Whirlpool is increasing its full-year diluted earnings per share guidance to $10.45 to $10.65 from the previous range of $10.05 to $10.55, and its full-year adjusted earnings per share to $9.90 to $10.10 from the previous range of $9.50 to $10.

The company reported net earnings of $196 million for the quarter, or $2.42 per diluted share, compared to net earnings of $74 million, or $0.94 per diluted share, reported during the same period last year.