News

Greenwood Village, Colorado -- Red Robin Gourmet Burger announced it has completed the acquisition of 32 Red Robin franchised restaurants in the United States and Canada, for approximately $40 million from Mach Robin, LLC and Mach Robin, LLC’s Canadian affiliate.

Atlanta – Aaron’s Inc. on Tuesday said it plans to close 44 underperforming stores in the third quarter of fiscal 2014 and continue other cost-reduction initiatives in response to disappointing core business performance. The electronics, furniture and appliances rentals retailer also revised its earnings guidance downward for the second quarter.

The company praised the performance of its recently purchased Progressive Finance unit.

New York - Ugam, a provider of managed analytics technology, is releasing a Brand Intelligence solution that enables monitoring of online channel prices and enforcement of MAP (minimum advertised price) compliance, ensuring that all partners sell their products at uniform prices.

Leading footwear manufacturer and retailer Wolverine World Wide plans to close 140 stores in the next 18 months as part of a strategic realignment plan focused on strengthening omnichannel capabilities.

Most of the stores to be closed operate under the company’s Stride Rite banner. Sixty of the units will close by year end with the remainder to close next year, the company said. The disclosure was made in conjunction with the release of solid financial results for the company’s second quarter ended July 14.

Washington, D.C. - Daily deals site LivingSocial is featuring a summer promotion called the Daily Gem, a chance for additional savings on premium and custom-selected deals based on a shopper’s preferences. Each morning, LivingSocial shoppers will receive a personalized Daily Gem deal via email with the chance to save an additional 15% on top of existing savings if they purchase by 3 p.m. local time.

New York – A majority of Americans say they have purchased clothing (69%), digital content (59%), and accessories such as handbags and shoes (54%) online, while half (49%) have purchased personal electronics such as digital music players or tablets in this fashion. However, according to a recent Harris Poll of 2,241 U.S. adults, nearly eight-in-10 respondents indicated an in-person preference for general food purchases such as groceries (78%).

Dollar Tree has appointed former Tractor Supply executive Randy Guiler as VP of investor relations. Guiler succeeds Timothy Reid, who is retiring.

Sears is looking to position itself as the go-to retailer for teens, and to that end has launched an exclusive fashion collection by Seventeen Magazine.

The full collection is available at 450 Sears stores nationwide as well as on Sears.com. Shop Your Way members and customers can shop the collection, enter sweepstakes and explore exclusive content from Seventeen Magazine at shopyourway.com.