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Report: Neiman Marcus to up tech spending
New York City -- Neiman Marcus plans to increase spending on technology to align its in-store and e-commerce businesses, the Financial Times reported.
Sales at Neiman’s e-commerce businesses increased 16.9% during the quarter ending Oct. 31, compared with a year ago.
Karen Katz, who took over the reins as chief executive from Burt Tansky in October, said Neiman planned to “ramp up how we connect” with customers who are increasingly equipped with smartphones and tablets, the report said.
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Whole Foods to reinstate quarterly dividend
Austin, Texas -- Whole Foods Market said Wednesday that its board approved a quarterly cash dividend of 10 cents per share reinstating the quarterly payment after more than two years with none. The dividend will be payable Jan. 20 to shareholders of record as of Jan. 10.
John Elstrott, chairman of Whole Foods' board, said in a statement that the decision to bring back the dividend stems from the company's strong financial position and outlook.