Sales & Marketing

Rockville, Md. - American prepaid card users are the leading users of mobile payments. According to Prepaid and Gift Cards in the U.S., 4th Edition, a recent report by market research publisher Packaged Facts, smartphone penetration is actually higher among groups underrepresented by traditional banking products and services.

Nordstrom is partnering with Curalate to launch Like2Buy, a platform that aims to offer consumers a more seamless shopping experience via Instagram.

Sebring, Fla. -- BV Belk Properties has retained JLL Retail to manage and lease Lakeshore Mall, a 490,000-sq.-ft. retail center located in Sebring, Florida. The mall was built in 1992, and is the only enclosed regional mall within 40 miles of Sebring.
 
“I see nothing but a good future for Lakeshore Mall, and I am thrilled at the opportunity to take a steady center and make it extraordinary for locals and passer-byes with the support of JLL,” said B.V. Belk Jr., owner of BV Belk Properties.

Los Angeles -- Brentwood Associates, a consumer-focused private equity investment firm, has acquired Marshall Retail Group, a leading specialty retailer for high-foot-traffic marketplaces with locations in major casino-hotels and airports across the United States. The company is led by CEO Michael C. Wilkins, who will continue to lead the business going forward.

Minneapolis -- Best Buy Co. earned $146 million in the second quarter, down from $266 million in the year-ago period, topping analysts earnings estimates even as its revenue fell short. Its results were helped by ongoing cost reductions. Best Buy cut $40 million in annual costs last quarter, bringing the total to $900 million.

For the quarter ended Aug. 3, revenue dropped to $8.89 billion from $9.27 billion. Analysts had expected $8.99 billion. Same-store sales fell 2.7%, which was more than analysts had expected.

Houston - Luby’s, operator of the Luby’s and Fuddruckers casual dining brands, is expanding its use of the EyeQinsights system. The EyeQ solution learns about in-store shoppers and uses customer activity, demographics and preferences to enable retailers to instantly customize each shopper’s experience.

Boston - Nearly 80% of college students describe themselves as “more cost-conscious this year than a year ago.” However, according to a recent back-to-school survey of 1,420 U.S. college students by college marketing agency Fluent, students said they are willing to make an exception to the low-spending rule and anticipate spending “more than they should” in select categories, specifically clothing, technology and dorm room accessories.

Following are key highlights from the survey: