News

The nation’s largest wholesaler of retail returns, GENCO Marketplace, and marketing automation provider SnapRetail, have combined to bring new capabilities to those looking to efficiently and profitably liquidate merchandise.

The companies joined forces to offer new, easy-to-use online marketing tools to retailers and resellers within the $2.5 billion GENCO Marketplace who will receive special software pricing, access to free educational resources and one-on-one consultations from SnapRetail.

New York -- Sears Holdings Corp. said in regulatory filing that it would borrow $400 million from the hedge fund of its CEO, Edward Lampert, who is also the company’s largest shareholder.  

Sears received the first $200 million of the loan from Lampert's ESL Investments on Monday, and expects to receive the remaining amount on Sept. 30.

The company said it would use the money for “general corporate purposes.

New York -- Brookstone said its president and CEO, James M. Speltz, has resigned. The specialty retailer appointed Steve Schwartz, the company's chief merchandising officer, to serve as interim president and CEO.

Speltz helped Brookstone emerge from Chapter 11 bankruptcy protection in June. Also in June,  a bankruptcy court judge approved its sale to to a consortium of Chinese investors, Sailing Innovation Inc., for $135.7 million.

Emeryville, Calif. -- Extreme-value grocer Grocery Outlet announced that it has entered into a definitive agreement to be acquired by affiliates of Hellman & Friedman LLC along with Grocery Outlet’s senior management team from its principal owner, Berkshire Partners LLC. The terms of the transaction were not disclosed.

Cambridge, Mass. -- Highland Consumer Partners, a growth-stage venture capital firm focused on the consumer sector, announced that retail executive Marty Hanaka joined the firm in August of this year as an operating partner.

Hanaka most recently was the interim CEO of Guitar Center, from January 2013 to April 2013.  

Previously, he served as the chairman of Golfsmith International Holdings, from April 2007 to November 2012, and was CEO from June 2008 to November 2012.   

Denver -- Junction Solutions announced today that Pet Supplies Plus, a leading retailer of pet food, pet products and pet supplies, has selected Junction Solutions to implement Microsoft Dynamics AX for Retail to help the company standardize business processes, support its growth goals, as well as expand the business into a multichannel operation.

To achieve these goals, Pet Supplies Plus selected Junction Solutions to replace its legacy systems with Microsoft Dynamics AX for Retail.  

Columbus, Ohio -- Washington Prime Group announced Tuesday it will acquire shopping center REIT Glimcher Realty Trust in a deal worth $4.3 billion.

Washington Prime Group, a Bethesda, Maryland-based REIT, and Glimcher will combine under a new name WP Glimcher, with headquarters remaining in the current Glimcher offices in Columbus, Ohio.

The newly combined company will remain publicly traded.

Plug and Play’s quarterly pitch competition event, Plug and Play Fall Expo 2014, is coming to Plug and Play’s campus in Sunnyvale, California. Fall Expo 2014 will feature 40-plus startup pitches, panel discussions and corporate networking. It will be held Thursday, Sept. 18, from 9:30 a.m. – 7 p.m. PDT.

Chain Store Age will be in attendance and we hope to see you there!

Apple Pay has some unique competitive advantages that should make it a major factor in the world of mobile commerce. Consumers pay by simply swiping their finger. Any credit card associated with a user’s existing iTunes account is automatically included, and adding a new card is as easy as snapping a photo with the phone’s camera. With more than 200 million existing iTunes accounts and a large base of iPhone devotees, consumer adoption of Apple Pay should grow quickly.

By Graeme Grant, president & COO, CQuotient

Technology and the proliferation of communications channels have significantly altered the way brands and retailers approach customer engagement. What was a “nice-to-have” strategy of coordinating messages across shopping channels only three years ago is now a “sink-or-swim” requirement for merchants. Consumers engage across every touch-point and demand that retailers have an omnichannel communication approach to complement their always-connected behaviors.