News

Dallas — During July, SRS Real Estate Partners executed a host of transactions in major cities across the country:

By Colleen A. Conry, Jane D. Goldstein, Natalie Logan and Alicia Suarez

On April 24, 2013, 1,127 people were killed when Rana Plaza, a garment manufacturing complex in Savar, Bangladesh, collapsed. This tragedy highlights the working conditions that may exist in Bangladesh and other countries. It also draws attention to the challenges faced by U.S. companies that want to conduct their business in an ethical and socially responsible way, particularly when operating through third-party suppliers in foreign countries.   

Charlotte, N.C. – Belk is teaming up with social, mobile and digital engagement platform ePrize, as well as Pinterest and Instagram marketing analytics suite provider Curalate to launch a Pinterest campaign aimed at brides called “Pin to Win.” At a high level, during the promotion consumers will visit a sweepstakes microsite where they can "pin" a pre-populated pin board image based on their bridal type or select an image of their own for a chance to win a $5,000 Belk gift card.

Dallas – The Army Air Force Exchange Service (AAFES) has awarded a multi-year contract to SpeedFC to build and maintain an integrated e-commerce platform, replacing a proprietary legacy environment. The SpeedFC solution will incorporate Oracle’s ATG platform for back-end systems, Speed Order, the vendor’s proprietary system for order management, Omniture for analytics and Endeca for guided navigation, faceted search and search administration.

Framingham, Mass. – Discount retailers TJ Maxx and Saks Off Fifth outlets are reportedly planning to enter the online sales arena this year. According to Reuters, TJ Maxx parent company TJX Cos. will be making its second attempt at launching a TJ Maxx e-commerce site after a failed attempt in 2005 that cost the company $15 million.

Franklin, Tenn. – More than $11.6 billion of retail IT spending, or 35% of the total, will come from budgets other than that of the CIO. Of that total “black ops” IT spend, $6.6 billion will come from the activities of the CMO and their purchases of hardware, software, SaaS, and services outside of the CIO budget.

Deerfield, Ill. - Walgreens same-store sales increased by 6.3% in July, the retailer reported this morning. Calendar day shifts positively impacted total same-store sales by 1.4 percentage points, while generic drug introductions in the last 12 months negatively impacted total same-store sales by 1.8 percentage points.

Total front-end sales increased 3.6% compared with the same month in fiscal 2012, while same-store front-end sales increased 2.3%. Customer traffic in stores open at least one year decreased 1.2% while basket size increased 3.5%.

Boston – Massachusetts Gov. Deval Patrick has signed a bill authorizing a sales tax holiday in Massachusetts for the upcoming weekend of Aug. 10. The bill gives consumers a one-time break on the state’s 6.25% sales tax on any ordinarily taxed retail items individually worth up to $2,500. The break does not extend to vehicles, motor boats, tobacco, meals and utilities.

Massachusetts did not offer a sales tax holiday in 2009 but otherwise has designated one weekend in August as a sales tax holiday every year since 2004.

Boca Raton, Fla. – Office Depot has filed a presentation with the Securities and Exchange Commission (SEC), which the retailer says demonstrates the importance of shareholders electing its board’s nominees at the company’s annual meeting on Aug. 21.

Facebook is taking another step toward monetizing its vast audience of plugged-in consumers with the planned introduction of paid video ads. As reported in numerous media outlets, Facebook intends to launch 15-second video ads that will play in a user’s newsfeed three times per day for as much $2.5 million per spot.