News

London – A group of U.K. retailers led by W.M. Morrison Supermarkets plc is reportedly seeking to extend the time period for which it can claim antitrust damages against MasterCard from 2006 to 1992. According to Bloomberg, this could add as much as $1.6 billion to the damages the retailers are seeking.

New Albany, Ohio – A federal judge has reportedly rejected an Aug. 29 settlement of a lawsuit over the pay received by co-CEO Michael Jeffries. According to Reuters, U.S. District Judge James Graham in Columbus, Ohio, said shareholders belonging to the City of Plantation, Florida Police Officers' Employees' Retirement System, who challenged the $140 million in pay and additional travel expenses Jeffries has received since 2007, give up too much in the settlement.

Louisville – Convenience chain Thorntons Inc. has implemented the Paytronix Loyalty Platform to support its new Refreshing Rewards customer loyalty program across 174 locations. Leveraging the Paytronix loyalty engine enabled the c-store chain to quickly test a variety of elements in a secure, market-focused pilot program and then rapidly roll out the program to all its stores.

By now it’s old news that Apple plans to disrupt retail payment with its Apple Pay platform. However, lost in the hoopla surrounding Apple Pay was an interesting announcement that Apple is also working on a new interactive, piracy-proof digital music service that it hopes will bring consumers back to purchasing whole albums, as well as individual songs.

Amazon’s new “Wish List” deal with Twitter continues the evolution of Twitter from a channel for passive promotion to a channel for interactive customer engagement. By allowing consumers to directly add items they see in tweets to their Amazon Wish Lists without leaving Twitter, the arrangement both turns Twitter into an active platform for peer-to-peer, unpaid marketing and also helps keep Twitter users on Twitter for longer periods of time by extending its functionality.

Plug and Play brings together retailers and start-ups who offer specific technology and expertise that can relieve merchants’ pain points. Customer Disruption highlights one of those start-ups in each issue with a brief Q&A. This issue, the spotlight is on George Ruan, CEO of Honey.

What does Honey do?

By Greg Smith, president & CEO of Accudata Technologies

The holiday season is right around the corner, and you know what that means — shopping, upon shopping, upon shopping! This is a great time for any e-retail business, but are you ready?

New York -- Standard General LP is in talks to improve RadioShack’s cash position in advance of the holiday season, Reuters reported. The hedge fund said it was in talks with the struggling retailer to buy the company's loans and other commitments under its asset-backed credit facility.

Standard General has also raised its stake in RadioShack to 9.8% from 7.08%. It is now the retailer’s largest shareholder.

Lakewood, Colo. -- Einstein Noah Restaurant Group, whose banners include Einstein Bros., Bagels, Noah's New York Bagels, and Manhattan Bagel brands, has agreed to be acquired by JAB Holding Company for approximately $374 million.

The agreement, unanimously approved by Einstein Noah Restaurant Group’s directors, represents a premium of approximately 47% over Einstein Noah’s 30-day average trading price.