Sales & Marketing

New York -- Barneys New York said that it has reached an agreement with its largest lender, Perry Capital and other lenders to significantly reduce the retailer’s debt and improve its capital structure. Under the arrangement, Perry Capital has become the majority owner of Barneys. Under a debt-for-equity swap with Perry Capital, as well as other lenders, Ron Burkle's Yucaipa Cos and current owner Istithmar World, the chain's long-term debt will fall to $50 million from $590 million. The deal makes Perry Capital the majority owner of Barneys.

Hoffman Estates, Ill. -- Sears has launched SearsLocalAd.com, an online service that provides customers with access to additional local deals beyond the weekly Sears print circular or Sears.com. The online shopping portal is dedicated to local customers, allowing them to shop smarter by previewing new local deals updated every week, and includes enhancements for Sears' Shop Your Way Rewards members.

Montreal -- More than 80% of U.S consumers more likely to become loyal customers to retailers that provide an integrated experience across channels, according to a study by Hybris, a multichannel commerce and communication software provider. In other findings, high shipping costs are the biggest deterrent to online purchases, while easy navigation and simple checkout are the biggest factors influencing purchases.

Eastleigh, United Kingdom -- SAP AG announced that British multinational home-improvement retailing company B&Q has gone live with the SAP Forecasting and Replenishment application. The deployment is part of the chain’s "Project Clover" business transformation program.

SAN FRANCISCO — Shoppers who use their Visa cards when making purchases at discount stores and grocery stores/supermarkets will no longer have to sign for them if they spend less than $50. Beginning in October, discount stores and grocery stores/supermarkets in the U.S. can accept Visa cards for transactions up to $50 without requiring a cardholder signature or PIN, or providing a customer receipt unless requested by the cardholder.

By Robin Lewis, [email protected] and Michael Dart, [email protected]

Total U.S. shopper traffic in retail stores and malls for April 2012

Warm weather and shifting holidays in March caused retail foot traffic to dip in April. Retail foot traffic in April was 7.6% lower from March, and 2.7% lower on a year-over-year basis.  The slow April is the first in the past 3 months to experience a decline in year-over-year and month-over-month retail foot traffic.

Chelmsford, Mass. -- Hannaford Bros. Co., the second-largest New England-based supermarket chain, has enhanced its workforce management suite of solutions from Kronos Inc.