News

PORT WASHINGTON, N.Y. — Once again, consumers are putting off back-to-school shopping until the last minute, but retailers can take solace in the fact that they intend to spend more this year.

According to NPD's survey, 31% of respondents said they plan to spend more this year, compared with 22% who made that claim in 2011. The number of consumers who plan to spend less went from 38% in 2011 to 24% this year, while those who plan to spend the same rose from 40% to 46%.

LOS ANGELES — Supervalu is making the mobile couponing app, Yowza!! available to more than 1900 independent stores. The new alliance means independent retailers supplied by Supervalu have the opportunity to offer the free Yowza!! app to their shoppers to receive real-time savings on in-store purchases.

BOCA RATON, Fla. — Office Depot has revealed a new back-to-school advertising campaign featuring multi-faceted actor, comedian and host of "America’s Got Talent," Nick Cannon. The campaign showcases Office Depot’s technology and fashion assortment to help students “Be Ncredible” this school year.

New York -- Private equity firm Clayton, Dubilier & Rice said Monday it has exited its investment in Sally Beauty Holdings with $1.9 billion in proceeds.

CD&R sold all of its 86 million Sally common shares at an average price of $22.68. In 2006, CD&R invested $571 million to acquire 47.5% of Sally Beauty Holdings, from The Alberto-Culver Co. in a leveraged spin-off transaction. All remaining shares were spun off to then-current Alberto-Culver shareholders.

 

LOS ANGELES — Sears is targeting young women with a new career-focused apparel line called Metaphor. The apparel collection, which is scheduled to hit stores in August, will include jackets, trousers, shirts and dresses at reasonable price points, according to the company. The line will be complemented by fashion footwear and jewelry.

Chelmsford, Mass. -- Workforce management solution-provider Kronos Inc. said Tuesday that United Supermarkets has expanded its relationship with Kronos after achieving a seven-figure savings through the deployment of a Kronos labor planning tool in conjunction with the workforce management solution.

The supermarket chain is extending its commitment in order to control labor costs, minimize compliance risk, and improve workforce productivity.

New York -- Barnes & Noble CEO William Lynch was compensated $10 million in 2011, compared to $1.6 million in 2010, according to a report by the Associated Press.

The difference is due to a large stock option grant, reported AP, as Barnes & Noble compensated Lynch for expanding the retailer’s digital business. However, an SEC filing revealed the retailer planned to pay Lynch double the $5.3 million in stock options it granted, but found it couldn't due to its 2009 incentive plan rules.

BENTONVILLE, Ark. — Walmart has launched an effort to help diabetes patients save on their disease management products.