News

Aaron's has promoted VP of finance Steven A. Michaels to VP of strategic planning and business development. Additionally, Robert W. Kamerschen, SVP and general counsel, will add corporate secretary to his responsibilities, and Kimberly R. Rivera is joining the company as VP of learning and development.

"This is an exciting time for all members of Aaron's as we continue to strengthen our management team and build a platform for sustainable growth," said Ronald W. Allen, Aaron's chairman, president and CEO.

Looking to tap into the loyalty of NASCAR fans, Sherwin-Williams has deepened an existing relationship with the racing organization to become the official automotive paint of NASCAR.

Sherwin-Williams is already the official paint of NASCAR and the automotive designation takes effect January 1.

Toronto – Canadian Tire reported strong financial results for the third quarter of fiscal 2013. These include an 11% increase in net income, to $139 million from about $128 million.

In addition, revenue grew to $2.83 billion from $2.7 billion. Consolidated same-store sales grew 3.1% across the Canadian Tire, FGL Sports, and Mark’s banners.

Houston – The Eminence Capital hedge fund has reportedly purchased a 9.8% stake in Men’s Wearhouse. According to the New York Times, Eminence Capital wants Men’s Wearhouse to reconsider the $2.3 billion buyout offer it recently rejected from Jos. A. Bank.

Eminence reportedly believes Jos. A. Bank is willing to make a higher bid if Men’s Wearhouse will consider it. The fund manages about $4.5 billion. Neither Eminence nor Men’s Wearhouse has commented publicly on the purchase.

New York – Retailers across a variety of verticals reported improved same-store sales during October 2013, compared to the same month in the previous year. Even embattled department store retailer J.C. Penney saw its same-store sales grow for the first time since December 2011, and specialty and apparel retail conglomerate L Brands and discount club retailer PriceSmart reported particularly impressive same-store sales results.

New York – The average consumer will spend $825 on holiday purchases in 2013, a 5% drop from last year. According to the new Brand Keys annual holiday survey, only 19% of shoppers surveyed indicated that they started shopping for the holidays in October, 5% fewer than 2012.

Austin, Texas - Multichannel selling is a reality for a majority of small-to-medium sized retailers, but payment processing capabilities lag far behind. According to a new research study commissioned by SecureNet Payment Systems and conducted in partnership with First Annapolis Consulting, more than 60% of retailers surveyed already accept payments in more than one channel, but are not well served by the payments industry today.

Los Angeles – A majority of customers visit stores equipped with mobile devices. According to a new survey from mobile technology provider Useablenet, 70% of U.S., shoppers and 60% of U.K., shoppers have their mobile phone on their person in-store.

And 30% of U.S. shoppers use their smartphones to aid the shopping experience in-store, compared to 40% in the U.K. In addition, 77% of U.S., and 81% of U.K., consumers prefer to browse on smartphone but make purchases on a larger device, such as tablet or computer

Fort Worth, Texas -- RadioShack is giving shoppers the power to name their own deals with an interactive application on its e-commerce site where consumers can select the product and pricing, vote on and share the hot deals. On Nov. 27, consumers can redeem a limited number of coupon codes for "Name Your Deal" products at reduced prices.

Allentown, Pa. - POS system and merchant services provider Harbortouch has unveiled its new “future-proof” payment terminal, Perkwave.The solution features a proprietary EMV-enabled credit card terminal integrated with a customer-facing NFC reader.