News

Ann in non-disclosure agreement with Golden Gate Capital
New York -- Ann Inc., parent of Ann Taylor and Loft, said Tuesday it has entered into a non-disclosure agreement with Golden Gate Capital to provide certain non-public information with the private equity firm. Golden Gate disclosed in a filing in March it bought a 9.5% stake in the women's clothing retailer. Ann said it has been engaged in a "collaborative, constructive" dialogue with Golden Gate since March.
The Wet Seal in cost-cutting mode, announces headcount reductions
Foothill Ranch, Calif. -- The Wet Seal announced a workforce reduction resulting in the elimination of a combination of 78 filled and open positions, including 66 positions at the company’s corporate office, or a 24% reduction in headcount, and 12 positions at the field management level, representing a 20% decrease. The cuts are the first steps in the retailer’s initiative to reduce its overall cost structure.

The Finish Line enhances omnichannel efforts with new customer loyalty mobile app

Indianapolis -- The Finish Line has launced a new mobile app aimed at providing services and conveniences that reward members of its Winners Circle loyalty program with points and loyalty perks. The chain teamed with IBM and IBM Business partner PointSource on the development of the app, which was designed using the IBM MobileFirst application development portfolio to capture the attention of sports enthusiasts and provide a rewarding user experience.
SAP Retail Forum—Brooks Brothers transforms IT environment

New York –- Brooks Brothers is currently one-third of the way through an IT transformation based on SAP technology. In a presentation and also in an exclusive one-on-one interview with Chain Store Age at the recent SAP Retail Forum in New York, Sahal S. Laher, executive VP/global CIO of Brooks Brothers, explained how the retailer is becoming a more customer-focused organization.
REI’s new mobile app offers snow reports

New York -- REI has launched a news mobile app that allows users to check snow conditions at popular ski destinations. The recently introduced iPad app offers an optimized shopping and product research experience and gives users access to a broad and inspiring product selection of the top brands in camping, backpacking, cycling, climbing, skiing, fitness and more.
Survey: Retailers use competitive data for pricing

Austin, Texas –- Retailers are in agreement about using competitive data for pricing. According to a new survey of more than 100 retailers by merchandise optimization provider Revionics Inc., 100% of respondents integrate some form of competitive data into their pricing.
Demandware acquires CQuotient

Burlington, Mass. -- Demandware Inc., a provider of enterprise cloud commerce solutions, has acquired CQuotient, a cloud personalization provider. The acquisition of CQuotient will accelerate Demandware’s plans to turn the data created across its community of retail brands into actionable insights for business optimization and differentiated consumer shopping experiences.
RetailROI partner and founder featured on CBS Evening News tonight
Survey: Half of consumers to begin holiday shopping pre-Black Friday

Austin, Texas -- Nearly half (46%) of consumers plan to start their holiday shopping before November this year, and one in four intend to have their holiday shopping completely finished by Black Friday. According to the RetailMeNot Shoppers Trend Report survey, conducted in conjunction with The Omnibus Company, 15% of consumers pick up winter holiday gifts throughout the year to spread out the cost. Other notable findings include:
FirstData: Spending slows in September
Survey: Two in three Americans limit spending

New York -- Two-thirds of Americans are limiting how much they spend each month. According to a new Bankrate.com report, of those limiting their monthly spending, 32% cite stagnant income as the main reason and 29% cite the need to save more.
Domino’s promotes three execs

Ann Arbor, Mich. -– Domino’s Pizza Inc. named Richard E. Allison, 47, president, Domino's International. Allison has been with the company since 2011 and has led its international division since that time, succeeding Michael T. Lawton, current CFO, who ran the division prior to Allison. Prior to Domino's, Allison spent more than 13 years at Bain & Company, where he was a partner and co-leader of the firm's restaurant practice.