News

Secaucus, N.J. -- Syms Corp. and its Filene’s Basement subsidiary said Wednesday that they have filed for Chapter 11 bankruptcy and will liquidate all stores and assets over the coming several months. Syms acquired the century-old Filene’s out of bankruptcy in 2009 for $63 million.

Bentonville, Ark. -- Walmart chief merchandising officer Duncan Mac Naughton expressed optimism about the retailer’s prospects for the holiday season and beyond during comments at a Bentonville Bella Vista Chamber of Commerce meeting with attracted more than 500 people. The function was held on Tuesday.

BENTONVILLE, Ark. — Sam's Club announced that it is making it easier for consumers to shop this holiday season with the launch of its holiday shopping site, SamsClub.com/gifts and an enhanced mobile app that together streamline on-the-go and at-home shopping.

Pittsburgh -- American Eagle Outfitters reported Wednesday that sales for the quarter ended Oct. 29 rose 11% to $832 million, compared with $752 million in the year-ago period.

Same-store sales increased 5% for the quarter, following a 1% rise for the same period last year.

By banner, American Eagle posted a 5% comp increase and Aerie comps surged 8%.

PLANO, Texas — JCPenney announced that it has launched a new, customizable feature on its website for its annual Angel Giving Tree Online partnership with The Salvation Army.

Indianapolis -- Electronics and appliance retailer Hhgregg reported Wednesday that net income for the quarter ended Sept. 30 rose to $6 million from $3.9 million in the year-ago period.

Sales for the period rose 29% to $618.6 million. Same-store sales rose 1.5%, returning to positive growth after a 5% decline last quarter.

In an effort to help merchants both achieve and maintain PCI (Payment Card Industry) compliance, technologies for cardholder data security have become more prevalent. Merchants should view PCI compliance as an ongoing business requirement with continuously evolving needs and mandated changes, not just a one-time, stand-alone IT issue. There is no quick-fix approach to both achieving and maintaining compliance and it is an ongoing process that begins at the strategic level.

Houston -- ATM owner Cardtronics said Wednesday it has completed its acquisition of Access to Money, an operator of merchant-owned ATMs and provider of cash machines to two major multi-unit retailers.

“We anticipate an efficient and seamless integration of Access to Money's operations," said Steve Rathgaber, CEO, Cardtronics.