News

Los Angeles – Guitar Center is launching the fourth installment of its omnichannel “Guitar Center’s Singer-Songwriter,” offering aspiring singer-songwriters across the country the chance to take their careers to the next level, on Sep. 1. The winner of Guitar Center's Singer-Songwriter 4 will have the opportunity to record a four-song E.P with producer Don Was, perform to a national television audience on “Jimmy Kimmel Live,” new gear, $25,000 cash and more.

San Francisco – A federal judge has reportedly approved an antitrust settlement EBay reached in May 2012. The settlement relates to a secret deal EBay reached with tax preparation software provider Intuit in which the two companies agreed not to hire each other’s employees.

According to Reuters, the settlement calls for EBay to not make any deals with any other technology companies to avoid hiring each other’s employees.

The Family Dollar board is under new pressure to walk away from a deal with Dollar Tree after Dollar General further increased an already more generous counter offer.

Early Monday Dollar General increased its all cash offer to $80 a share from $78.50 a share and increased the number of stores it said it would be willing to divest to 1,500 from 700. The company also said it would be willing to pay Family Dollar a $500 million reverse break-up if the deal failed to secure antitrust clearance.

The strategy at Conn’s to grow sales of its most profitable product lines have proved successful for the specialty retailer, which marked its 12th consecutive quarter of increasing same-store sales. But overall results were unsatisfactory, because provisions for credit losses were higher than expected, resulting in portfolio performance deterioration.

By A.J. Clark, Thermopylae

Carle Place, N.Y. -- 1-800-Flowers.com Inc. has entered into an agreement to acquire gourmet food and gift retailer Harry & David Holdings for $142.5 million in cash.  

The deal includes Harry & David’s brands and websites as well as its headquarters, manufacturing and distribution facilities and orchards in Medford, Oregon, a warehouse and distribution facility in Hebron, Ohio, and 47 Harry & David stores.

Online sales at regional department store operator Belk grew 43% during the second quarter, prompting the company to announce a major investment in its e-commerce and fulfillment capabilities.

Amazon and Barnes & Noble still pose an enormous threat, but things may be looking up for Books-A-Million where losses are declining and the company just hired an e-commerce veteran.

Books-A-Million said revenue for its second quarter ended August 2 declined 0.5% to $108.3 million, same store sales increased 0.1% and it lost $3 million, or 21 cents a share. The loss was significantly less worse than a prior year loss of $9.1 million, or 62 cents a share.