Sales & Marketing

New York City -- American Express announced it is launching American Express Merchant Financing, a program that provides qualified merchants with quick and simple access to cash for their business needs. The launch comes as small- and medium-sized businesses (SMBs) struggle with access to capital in today’s tight credit economy.

FRAMINGHAM, Mass. — Staples announced that it has teamed up with Martha Stewart Living Omnimedia and Avery Dennison to create a new line of home office products.

The Martha Stewart Home Office with Avery product line will debut in early 2012 with more than 300 SKUs across multiple product categories, which will be sold exclusively at Staples.

New York City -- Sur La Table has been acquired by Investcorp, a global asset management firm. The Seattle-based retailer, which specializes in kitchen goods, operates 86 stores nationwide.

Investcorp acquired Sur La Table from the Behnke family and investment firm Freeman Spogli & Co., who will both remain as investors in the kitchen goods retailer. Terms of the deal were not disclosed. No management changes are expected.

WAYNE, N.J. — Toys"R"Us announced that it plans to hire more than 40,000 employees to staff its U.S. stores and distribution centers this holiday season, as the company anticipates another busy Christmas across all of its shopping channels. This number is in line with previous years, when the company hired between 35,000 and 45,000 seasonal workers. Throughout the coming months, the company said it will continue to assess its staffing needs and add more employees, as necessary.

When Quincy, Mass.’s new downtown shopping district is officially unveiled, the City will host some of America’s premier retail destinations — thanks to a first-of-its kind joint venture between Street-Works Development and National Realty and Development Corp., based in Purchase, N.Y.

The partnership was announced on Sept. 21 by the City of Quincy, Street-Works and NRDC.

Irvine, Calif. -- Pet retailer Passionate Pets said Thursday it has named Keith Martin, former senior VP operations at Petco, to its board of directors.

The company also named Todd Peterson, CPA at KSNE2 Enterprises, to the board.

The company is preparing for an IPO and, according to its president and CEO John Dunn, who worked with Martin at both Petco and Office Depot, the pair is expected to help lead Passionate Pet through the IPO stage.
 

Camp Hill, Pa. -- Rite Aid Corp. reported Thursday that it narrowed its loss in the quarter ended Aug. 27 to $94.7 million, from $199.3 million in the year earlier period.

Revenue rose 1.8% in the quarter to $6.3 billion, and same-store sales – as previously reported – increased 2.2%.

The drugstore retailer has modified its outlook, now expecting smaller losses for fiscal 2012 than originally anticipated.

Framingham, Mass. -- Staples has partnered with Martha Stewart Living Omnimedia to create a new line of home office items that have female appeal.

The line, to be called Martha Stewart Home Office, will be made by Avery Dennison Corp. and will include some 300 products. The items will make its debut in Staples stores in early 2012.