News

Bentonville, Ark. -- According to multiple reports on Tuesday, Walmart is testing a new iPhone app that will allow shoppers to scan items using their iPhones and complete their transactions at in-store self-checkout kiosks.

Walmart is piloting its Scan & Go program in its Rogers, Ark. store. The system is not designed for mobile payment transactions but rather to allow shoppers to complete purchases as they shop in the store.

Dallas -- Tuesday Morning announced Tuesday that it has named former Big Lots head Brady Churches as its new CEO, stepping in for former CEO Kathleen Mason who was terminated by the company in June.

Mason has since filed suit against the closeout retailer, alleging that she was fired because she disclosed that she has breast cancer.

Churches’ appointment is effective immediately. His most recent position was as president of Marketing Results Ltd. Prior to that he was president of Big Lots.
 

Bensalem, Pa. -- SB Capital Group, Tiger Capital Group and Great American Group jointly announced Tuesday that, in tandem, they will begin to sell off all of the inventory in the 568 Fashion Bug stores in the United States.

The Charming Shoppes unit will be divested and fully closed.

As part of the process, Fashion Bug has retained more than 5,900 store and district personnel to assist in operating the stores through the completion of the sale process.
 

Spice maker McCormick & Company has opened its first retail destination, McCormick’s World of Flavor, in Baltimore’s Inner Harbor area. Designed as a brand showcase, the store houses McCormick's full range of flavorings, seasonings and other products, including its Old Bay and Grill Mates lines.

By Kathy Gersch, [email protected]

New York -- The Thomson Reuters/University of Michigan consumer sentiment index climbed to a better-than-expected 74.3, compared to 72.3 in July and representing a three-month high.

Aggressive retail discounting and record-low interest rates boosted the results, but unemployment remains a big concern. 

“Confidence is lackluster,” Jim O’Sullivan, chief U.S. economist for High Frequency Economics Ltd., told Bloomberg. “It typifies the economy right now. It’s not strong, but not collapsing either.”

Topeka, Kan. -- Collective Brands Inc. reported Friday that net income for the second quarter was $9.7 million, compared with a loss of  $35 million last year when it booked nearly $84 million in one-time charges.

Sales for the owner of Payless ShoeSource and Stride Rite grew 6% to $886 million and same-store sales rose 2.9%.
 

Austin, Texas -- A survey released Friday by coupon site RetailMeNot found that coupon use for back-to-school shopping surged this year, particularly for retailers selling books, school supplies and apparel.

According to RetailMeNot, which measured coupon usage during the July 1 to Aug. 20 selling period, as compared with the prior three months, the average daily coupon clicks increased more than 130% for book retailers, more than 40% for merchants selling back-to-school supplies and more than 30% for stores selling apparel and shoes.

Norwalk, Conn. -- GE Capital said Friday that it is serving as administrative agent on a $150 million senior secured credit facility to support the combination of Golf Town and Golfsmith, owned by parent company Golfsmith International. 

GE said the credit facility will be used to support working capital and to refinance existing debt.
 
"GE Capital structured the financing that will enable us to make … our ongoing operations a success," said Sue Gove, president and COO of Golfsmith International. 

Lynnwood, Wash. -- Zumiez Inc. reported Thursday that net income for the quarter ended July 28 slipped to $2.1 million, from $2.6 million in the year-ago period, largely due to costs associated with its acquisition of Blue Tomato.

Revenue surged 20.4% to $135.1 million from $112.2 million, which includes contributions from Blue Tomato. Same-store sales increased 9.5%.

The company said it is on track to open 50 new stores in fiscal 2012, including up to 10 stores in Canada.