News

Richard Sharp, 67, the long-time CEO of Circuit City who founded used car retailer CarMax has died of Alzheimer’s disease at his home near Richmond, Virginia.

Sharp joined Circuit City in 1982 and served as CEO of the company from 1986 to 2000. Under his leadership, Circuit City enjoyed meteoric growth with sales that increased from $175 million in 1986 to more than $10 billion by 2000. Eight years after he had left the company, Circuit City filed for bankruptcy in 2008 and the following year was liquidated.

Paris - Most retailers (65%) struggle with getting omnichannel commerce right and cite underperforming technology, changing IT trends and the complex organizational infrastructure as the primary reasons. According to a recent survey from Ipanema Technologies, retailers see the customer-centric experience as including excellent customer service (58%), fast transactions (55%) and interchangeable purchase channels (49%), but only 35% of respondents describe their customer experience as excellent.

Twitter has released a full suite of targeting, creative and measurement tools to enable advertisers to promote their mobile apps through the new Mobile App Promotion (MAP) product. For marketers, this means a native ad unit users can use to install apps directly from the Twitter timeline.

By Gary Ambrosino, CEO of TimeTrade Systems

Too often in retail, disruptions are viewed as bad things, but new digital disruptions, including 3-D printing and digital currencies, are transforming what consumers expect from their shopping experience and how they interact with physical and online retailers — for the better.

Nine West has integrated LivePerson’s LiveEngage digital engagement solution into the Demandware Commerce platform for its website.

According to LivePerson, the LiveEngage platform helps Nine West meet evolving consumer demands for a more seamless digital shopping journey, and has simultaneously improved the brand's customer reported satisfaction, increased incremental revenue and reduced support costs.

Nine West reported the following results four months after implementing LiveEngage:

Morrisville, N.C. - Charles & Colvard Ltd. has closed a new three-year $10 million asset-backed credit facility with Wells Fargo Bank. The company’s previous credit facility with PNC Bank was terminated.

The new credit facility provides Charles & Colvard working capital for general corporate purposes and to pursue continued growth opportunities and is secured by Charles & Colvard assets. The company currently does not have any other long-term debt and the new credit facility is undrawn.

Nearly one year ago, as lawyers faced off in the first battle over Detroit’s bankruptcy bid, Meijer opened its first store at the Gateway Marketplace shopping center on 8 Mile Road and Woodward Ave. The retailer is not giving up on the economically depressed city, either, as it prepares to open a second location.

San Jose, Calif. – Despite an 8.1% year-over-year drop in traffic and decline of one full conversion point, sales on Father’s Day (June 16) remained essentially flat. According to data from in-store analytics provider RetailNext, a 15.4% increase in average transaction value (ATV) helped sales grow 0.1%.

For the week leading up to Father’s Day, sales declined every day compared to the equivalent day a year earlier. Daily decreases ranged from a high of 10.3% on June 13 to a low of 4% on June 9.