News

Dollar Tree said it would acquire Family Dollar in a transformational cash and stock deal valued at $8.5 billion to create a company with more than 13,000 stores and annual sales of $18 billion.

The deal was unanimously approved by the boards of both companies and involves Dollar Tree paying Family Dollar shareholders $59.60 in cash and $14.90 in equivalent Dollar Tree shares.

Atlanta – Supply chain management technology provider Data Profits Inc. is releasing the cloud-based iKis trade promotion solution that extends end-to-end promotion planning for the retail, wholesale, and grocery Industries.

Key features of the system include electronic deal negotiation, as well as integrated pre-promotion planning, real time promotion feedback, and settlement execution.

Lowe's plans to build a customer support center in Indianapolis, a move that will create up to 1,000 new jobs by 2016.

The Home Depot elevated 14-year veteran Ted Decker to the role of EVP of merchandising to oversee all aspects of merchandising strategy and operations.

Decker had previously served as SVP of retail finance, pricing analytics and assortment planning. He assumes his new role August 4 and will report to Craig Menear, Home Depot’s president of U.S. retail.

Plano, Texas – Net earnings at Rent-A-Center Inc. fell 58% year-over-year in the second quarter of fiscal 2014, to $17.5 million from $41.9 million. Costs related to pretax restructuring and the consolidation of 150 stores into core U.S. stores helped reduce total net earnings.

Los Angeles -- Paid search programs are the most popular online customer acquisition tactic. According to the 2014 Shop.org/Forrester Research Inc. State of Retailing Online study, which surveyed 81 retailers in May and June 2014, 85% of retailers cite search engine marketing as one of the most effective customer acquisition tactics.

Clothing company Kellwood has named Marc Babins the president of its western region. Babins — who has been in the apparel industry for most of his career — will head up Kellwood’s largest operations unit in City in Industry, California.

Model, actress and television presenter Kelly Brook has signed on with Skechers to appear globally in the footwear company’s multiplatform marketing and social media campaigns through 2015.

"It doesn’t get any bigger than Skechers when it comes to lifestyle footwear so I’m thrilled to be working with this amazing brand,” said Brook. “Skechers has brilliantly comfortable shoes in so many colors and looks. I love it and can’t wait to get started with this campaign!”