News

New York -- Sycamore Partners extended the expiration date of its tender offer to buy The Talbots by 14 days. Sycamore said in May that it would buy the women's apparel retailer for $193.3 million, or $2.75 per share -- a price that was lower than its previous offers.

The tender offer was previously scheduled to expire at midnight, New York City time, on July 13. It now has been extended to July 27.
 

School supplies manufacturer It’s Academic announced a new partnership the manufacturer of a vanishing grid line technology.

New York -- Simple demographic targeting does not weight advertising exposures toward households that have greater purchasing value, according to a study by Catalina Marketing released Monday. The study shows that, for a cross-section of major consumer brands, an average of just 15% of television ad exposures reach the households that account for 80% of sales. Meanwhile, brand advertisers deliver 64% of exposures to households that account for just 2% of sales.

Visa and MasterCard on Friday announced a proposed $6.6 billion settlement to a long-running dispute over the fees they charge merchants, but one major trade group was clearly annoyed at the prospect.

MINNEAPOLIS — Target is once again bringing Black Friday to the summer, this year expanding the sale to two full days, July 20 to 21. Target will also hold its first-ever Summer Cyber Week sale from July 22 to 28, featuring daily deals on Target.com for must-have products such as electronics, apparel, baby gear and more.

Oakbrook, Ill. -- Ace Hardware has launched an “Express” format for both current Ace retailers and other business owners seeking to integrate the Ace brand into their existing offerings. The new, more compact stores average 5,000-sq.-ft. or less, and include customized merchandising displays and stock more than 11,000 of the most popular and profitable hardware products.

Michael Williams has joined Jackson Hewitt, the nation’s second largest tax preparation firm, as SVP and chief marketing officer.

Williams joins the tax service provider following a tax season in which the firm saw its relationship with Walmart expand to 2,800 in-store locations from 2,000 locations the prior year.

WASHINGTON — U.S. retail sales declined during the month of June, the Census Bureau reported Tuesday.

U.S. retail and food services sales for the month, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $401.5 billion, an decrease of 0.5% from the previous month but 3.8% above the year-ago period. Retail trade sales were down 0.5% from last month but 3.5% above last year.