News

HOFFMAN ESTATES, Ill. — Reuters news service has reported that the shareholders of Sears Holding Corp. will end up with 80% of the common stock in Orchard Supply Hardware stores, following an attempt to spin off the California hardware chain into a separate unit.

By Greg Hammermaster, Sage Payment Solutions

RESTON, Va. — The holiday season-to-date has garnered $24.6 billion in online sales, a 15% increase above corresponding days last year, ComScore reported.

In addition to the 15% increase in spending recorded for the first 39 days of the holiday season, ComScore also noted that the most recent week (week ended Dec. 9) reached $5.9 billion in spending, an increase of 15% versus the corresponding week last year.

Target faces increased competition from dollar stores, as their value proposition still resonates with cash-strapped consumers. Dollar General, for example reported that net income for its third quarter was $171 million, 50 cents per diluted share, compared with net income of $128 million, or diluted EPS of 37 cents, in the third of fiscal 2010. The company reported that same-store sales increased 6.3% for the quarter. 

BOCA RATON, Fla. — Office Depot announced that it has rewarded 25 organizations for their leadership in greener purchasing. The awards were presented during Office Depot’s greener purchasing summit and awards ceremony on Nov. 15 in Oakland, Calif. 

A few days and about 15 meetings later, I am brimming with updates and stories from the annual International Council of Shopping Centers’ New York Deal-Making Convention in New York City.

Interestingly, my very first face-to-face sitdown at the Dec. 5-6 show delivered the biggest innovation of the two-day event.

I met with Marty Richmond, VP of marketing and corporate communications for Beachwood, Ohio-based DDR, who introduced me to the company’s newly unveiled ValuText program, a location-based mobile marketing service.

BENTONVILLE, Ark. — Walmart announced that it has kicked off its "12 Days of Giving" campaign, awarding more than $1.5 million to nonprofits that were nominated by Facebook users. By the end of the campaign, 145 grant recipients in all 50 states, Washington, D.C. and Puerto Rico will be honored.

Let’s face it – the Internet has made comparing prices before you buy a no-brainer. Recent surveys show that consumers are more cost conscious than ever before, which means they will accept nothing less than the lowest price. Increased competition and mounting expense pressures have prompted retailers to turn over every rock in an effort to control costs. Every area of a retailer’s business is now under intense scrutiny and divisions previously thought of as “expense” centers, are being required to either generate revenue or be eliminated.