Retail

Los Angeles -- Guitar Center will open a flagship in Manhattan’s Times Square on Aug. 7.

The store is located in the original New York Times building. Designed by Eight Inc., the space will offer a high-energy, hands-on environment in which customers are encouraged to interact with the wide selection of instruments and staff.  

The National Retail Federation (NRF), Retail Industry Leaders Association (RILA), Food Marketing Institute (FMI), Merchant Advisory Group, National Association of Convenience Stores (NACS), National Grocers Association and National Restaurant Association (NRA) are jointly calling for an open and universal tokenization standard in the U.S. payments system.

The groups released a statement saying payment card data is currently vulnerable to theft where card information is swiped or entered, where card information is stored, and where it is transmitted.

Fort Worth, Texas - David E. Pratt has joined Trademark Property Co. as VP mall and lifestyle leasing. Pratt brings 27 years of retail leasing experience to Trademark, where he will be responsible for leasing of the company’s lifestyle centers and malls.

Tewskbury, Mass. – The unfolding saga at the Market Basket grocery chain continues to take unexpected twists and turns. According to the Boston Globe, the board of directors of Market Basket parent company Demoulas Super Markets has said it will consider a purchase offer from former CEO Arthur T. Demoulas, and the company also faces a lawsuit from several employees.

The Children's Place has announced that Lou Lipschitz, a member of its board of directors and chair of the audit committee, has died.

"We are deeply saddened by the passing of our friend, colleague and trusted advisor Lou Lipschitz. Lou's financial leadership, and passion for our business, enriched our company and our board, and we will dearly miss his dedication, grace and wonderful sense of humor," Norman Matthews, The Children's Place chairman of the board, said.

San Jose, Calif. – EBay has had success with the password reset it launched in May 2014, following the public revelation of a February 2014 security breach that may have exposed user information. According to Bloomberg, more than half of EBay’s existing 149 million customers have returned since the rest, and the company has also experienced 10-15% growth in new customers since that time.

Sunnyvale, Calif. -- Fujitsu is partnering with OnCue Technologies, a developer of in-aisle point-of-information solutions, to resell OnCue Technologies' InfoCue and Expert OnCue mini-kiosk solutions to big-box, grocery, beverage and hardware retailers in the U.S. OnCue Technologies' cloud-based, customizable mini kiosks enable retailers to deliver expert advice and product information to customers in the aisle without requiring employee training.

So the news is out that Facebook is testing a new “buy” button designed to help businesses drive sales in News Feed and on Pages. This feature will let consumers click the “Buy” button on ads and page posts to purchase a product directly from a business, without leaving Facebook.