Sales & Marketing

It may have taken longer than originally thought, but competition authorities in South Africa cleared the way for Walmart to move forward with its acquisition of Massmart, the company announced Tuesday.

Warrendale, Pa. -- Teen clothing retailer rue21 posted net income of $9.6 million for the first quarter, compared with $5.8 million. The company boosted its full-year guidance based on its better-than-expected results.

Net sales increased 25.5% to $172.9 million. Same-store sales rose 5.2%.

During the quarter ended April 30, the company opened 39 new stores expanding its total to 677.
 

Midwestern department store operator Gordman’s Stores was putting up some big numbers last year, and then in early August it decided to go public. Things are not looking quite as good of late, with first quarter comps weaker than planned and guidance for the remainder of the year lowered.

New York City -- Consumer confidence declined in May, according to the Conference Board Consumer Confidence Index. The Index now stands at 60.8, down from 66.0 in April. The Present Situation Index decreased to 39.3 from 40.2. The Expectations Index declined to 75.2 from 83.2 last month.

NEW YORK — Barneys New York has announced that its e-commerce website, Barneys.com (www.Barneys.com), has introduced international shipping to 90 countries including Canada, South Korea, the United Kingdom, Australia, and China.

According to Barneys, international customers will be able to make payments on Barneys.com in their preferred currency with cost-effective international shipping and handling services.  

Philadelphia -- Pennsylvania Real Estate Investment Trust announced Tuesday that it has launched a free interactive application, available for its 40 shopping malls around the country.

Initially designed for Apple’s iPhone, the app will soon be available for the Android and Blackberry, according to PREIT.

New York City -- Search engine giant Google announced the launch of Google Wallet, a mobile payment service that allows consumers to pay for goods via their smartphones. The application is currently being field-tested in San Francisco and New York, and will be available to consumers in the summer.

At its annual meeting, Lowe’s chairman and CEO Robert A. Niblock continued to hammer on the theme of transformation at the nation's second-largest home center chain.

“Making home improvement simple for customers starts with making it simple for our employees by providing them with the right technology and resources,” said Niblock. “Throughout our 65-year history, Lowe’s has changed many times. To be successful in the future, we must transform the shopping experience for customers wherever and however they choose to shop with Lowe’s.”