News

Woonsocket, R.I. – CVS is reportedly offering a new program to its ExtraCare loyalty program members, called myWeeklyAd, which creates a personalized profile with targeted product offers based on previous purchases. According to Wall St. Cheat Sheet, CVS spent about $7 million on the omnichannel program which is available on PC, tablet and smartphone.

Saks Fifth Avenue will unveil its renovated men’s store in its Chicago flagship on Michigan Avenue in January of the new year. The renovation will encompass a total redesign of floors six and seven, creating an open environment that will be easily accessed by a new express elevator that will take passengers directly to the men’s floors.  

SAP demonstrated a concept consumer app called “Snap” at its recent Retail Forum in Dallas. Snap provides customers with interactive 3-D assembly instructions for a vast array of products. The instructions are pulled from manufacturer CAD files and delivered via cloud after the customer scans a product barcode or QR code, with options such as zoom and audio. Snap even lets shoppers register products for warranties and automatically request replacement parts.

The opening of two new Stein Mart stores in New Jersey and California this month will round out the discount department store operator's 2013 capital expansion program and give it a year-end total of 264 units.

The opening follows four new stores last month in El Paso, Texas; Buford, Ga.; Elk Grove, Calif.; and Colorado Springs, Co., as well as a September comparable-store sales increase of 5% and a total net sales increase of 7.3% for the month.

Matthews, N.C. -- Family Dollar has elevated Jason Reiser to the position of senior VP/lead merchandising officer at Family Dollar, according to an internal memo from company president and COO Mike Bloom.

Columbus, Ohio - The previously announced offering of $500 million aggregate principal amount of unsecured senior notes due 2023 from L Brands (formerly knows as Limited Brands) has priced at 100% of the aggregate principal amount with a coupon of 5.625%. The sale of the 2023 notes was underwritten by BofA Merrill Lynch, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC as joint book-running managers.

Digital media company Specific Media and Nielsen have joined forces to offer a new platform called Retail Connect designed to address what the firms regard as a gap between offline and online advertising.

According to Specific Media, the Retail Connect platform will allow for more effective advertising for brands as well as consumers because it leverages Nielsen’s Buyer Insights aggregate data about in-store consumption habits and online behaviors to inform an optimized and efficient approach to online advertising.

Richfield, Minn. – Best Buy is reportedly planning a major promotion to boost sales of the iPhone 5c and 5s the week of Oct. 13. According to TechnoBuffalo, an internal corporate memo indicates that consumers who trade in select smartphones that week will receive a $100 credit that can be used to cover the down payment on a new iPhone 5c or 5s.