News

St. Louis -- Save-A-Lot announced plans for a new 250,374-sq.-ft. food distribution center in Pompano Beach, Fla.

The center located is expected to open by the end of fiscal year 2013 (FY13 ends February 23, 2013) and employ more than 30 employees initially, with the potential for hiring additional employees once the facility is at full capacity. The project is the result of collaboration with KTR Capital Partners and Butters Construction.
 

New York -- Kenneth Cole Productions said its board has approved founder Kenneth Cole's offer to buy up the remaining part of the company that he doesn't already own in a deal worth $245 million.

Cole, currently the chairman and CEO of Kenneth Cole, holds about 46% of its outstanding common stock and controls 89% of its voting power. He will pay $15.25 for each share of the company that he doesn't already own.

Washington, D.C. -- The average person will spend $117.14 on dad’s gifts this year, up 10% from $106.49 last year, closing the gap between its biggest competitor: Mother’s Day (consumers planned to spend an average of $152 on the holiday), according to the National Retail Federation’s 2012 Father’s Day spending survey, conducted by BIGinsight. Total spending for Father’s Day is expected to reach $12.7 billion.

By Stephen J. Pargeter, [email protected]

A new application at a Gap store in Manhattan takes the hassle—along with the unsightly cords and wiring—out of digital signage.

The retailer has deployed tabletop digital signage displays that run on rechargeable batteries, eliminating the need for any external power. The freestanding portable displays, from BrightSign, measure 10.5” x 19.9” x 9.9,” and feature a built-in 12.1” high-resolution screen and media player. They are self-contained and enclosed in a sleek steel display tower.

Atlanta -- The Home Depot on Wednesday expanded its share buyback plan for the year by $500 million and reaffirmed its full-year outlook.

The retailer said it now expects to buy back $4 billion of its shares and that the increase in its share repurchase plan would not have a material impact to earnings per share for 2012.

Pittsburgh -- American Eagle Outfitters and Shopkick, the largest location-based shopping app that rewards shoppers simply for walking into stores, announced the national rollout of Shopkick to all American Eagle Outfitters and Aerie stores across the country. Customers will earn "kicks" (points) just for walking in, as well as receive a number of other exciting, exclusive offers throughout the stores.

ST. PAUL, Minn. — Supervalu banner Cub Foods has partnered with a local produce grower to provide year-round local produce to locations throughout the Twin Cities.

ST. PAUL, Minn. — Supervalu banner Cub Foods has partnered with a local produce grower to provide year-round local produce to locations throughout the Twin Cities.

NEW YORK — Retail executives have more cash, are adding employees and enjoying stronger revenue, but they remain quite guarded longer term, not seeing a complete economic recovery until 2014 or later, according to the 2012 Retail Outlook Survey by audit, tax, and advisory firm KPMG LLP.

In the recent survey, 77% of retail executives indicate that their companies have significant cash on the balance sheet – up from 72% in KPMG's 2011 survey – and 56% say their companies' cash positions have increased from last year.