Sales & Marketing

DSW has closed on its acquisition of Town Shoes Limited, the largest footwear and accessories retailer in Canada, for $68.7 million (USD) in cash. DSW acquired a 49.2% interest in Town Shoes from certain clients of Alberta Investment Management Corporation (AIMCo) and other minority shareholders.

DSW's initial stake provides 50% voting control and board representation equal to the primary remaining shareholder, Callisto Capital. Peter J. Solomon Company served as financial advisor to DSW Inc.

New York -- Internet scrapbooking cite Pinterest Inc. is expanding its efforts to allow advertisers pay to more prominently display their pins, the San Francisco-based company announced in a blog past on Monday.

The company said it is working with a small group of brands to roll out a paid test in its search and category feeds. The group includes Target, Gap, Old Navy, Banana Republic, and Lululemon Athletica.
 

Cambridge, Mass. -- An ongoing debate in retail is whether it’s a better strategy to use markdowns or everyday low prices. Research by MIT Sloan School of Management visiting professor Özalp Özer and his colleague Karen Zheng at MIT Sloan supports basing pricing strategy on consumer behavior compared to a one-size-fits-all approach.

Irving, Texas - Michaels has launched its new “inspirational” arts and crafts site that offers 24-hour shopping on any computer, tablet or smartphone. The new site offers project ideas and one-click shopping lists for projects.

It also features "Favorite Pins" – projects and products that are trending on Pinterest from Michaels.com. During the launch period, Michaels.com will feature 21 days of hourly, daily and weekly online specials.

Build-A-Bear Workshop has appointed Michael Shaffer to the company’s board of directors.

Shaffer will serve as chairman of the audit committee and a member of the nominating and corporate governance committee. With Shaffer’s appointment, the board has eight members, six of whom, including Shaffer, are deemed independent by the board under New York Stock Exchange rules and other applicable regulations.

Atlanta - Consumer year-over-year spending growth of 4.1% gained momentum in April 2014 compared to the prior month’s growth of 3.1%, driven by warmer weather as well as the Easter shift into April this year, according to First Data SpendTrend analysis. The report, which tracks same-store point-of-sale data by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks from nearly four million merchant locations serviced by First Data, shows transaction growth of 3.5% in April,  compared to March’s 2.7% growth.

Michaels has enhanced its online presence with the launch of its new site that enables shoppers to make online purchases from any computer, tablet or smartphone.

The new site goes beyond the typical online shopping experience, according to the company, with project ideas and one-click shopping lists for projects all in one place. It also features "Favorite Pins" — projects and products that are trending on Pinterest from Michaels.com.

Phoenix - DM Analytics, a provider of retail-focused software solutions, has added a Tag and Sign system to a comprehensive application suite that also incorporates ordering, receiving, shelf price audit and inventory modules. The system is aimed at supermarkets, drug stores, dollar stores, hardware, consumer electronics/appliances, furniture/home furnishings, liquor, auto parts, hobby/crafts, pool supply, and other hardlines retailers.