News

New York City -- Borders Group Inc. won court approval of the final details of its plans to dissolve, according to Bloomberg.

The bankruptcy judge finalized terms of creditor repayments Tuesday after five remaining objections were resolved, the report said. Unsecured creditors with $812 million to $850 million in claims will recover from 4% to 10%, probably “at the higher end of the range,” according to court papers.
 

By Jacob Thompson

Mobile payments provide retailers an opportunity to take advantage of the newest method of payment. The Center of Retail Research recently released some interesting figures, numbers that clearly shows the growing trend of customers using mobile money. It also predicted that about one out of every 10 shoppers would purchase a gift this holiday season using a mobile device. 

York, Pa. -- The Bon-Ton Stores announced it has signed a new, multi-year private-label credit card program agreement with Alliance Data, a provider of loyalty and marketing solutions.

SOLON, Ohio — Macy's is partnering with Earthworks System LLC, a provider of 100% recycled PVC sheets for the plastic card industry and plastic card recycling programs, to provide its customers with a recyclable gift card program for the retailer’s customers. 

New York City -- CVS Caremark executives shared plans to address the challenges facing health care during the company's annual Analyst Day in New York City. The company also said Tuesday it also expects to buy back the $3 billion left in its share repurchase program.

Springfield, Ill. -- Illinois Gov. Pat Quinn signed legislation Friday that grants hundreds of millions of dollars in tax breaks and incentives aimed at keeping Sears Holdings Corp., along with CME Group Inc., which operates the Chicago Mercantile Exchange, headquartered in Illinois.

Lawmakers approved the business tax breaks earlier this month, but Quinn had not yet signed the bill. Both companies had openly threatened to leave the state without some kind of significant aid package.

A new Target store in San Clemente, Calif., was the recipient of a GreenChill GOLD award from the U.S. Environmental Protection Agency. There are a lot of certifications and awards being handed out these days in the world of sustainability, but what makes EPA’s GreenChill GOLD award noteworthy is that the Target store is only the 27th retail location to earn the distinction.

HOFFMAN ESTATES, Ill. — Sears announced Monday that it is offering customers last-minute deals on such brands as Craftsman, DieHard, Kenmore, NordicTrack, Lands' End and Kardashian Kollection. 

Deals being offered at Sears stores Dec. 23 to Dec. 24 include 70% off fine jewelry, up to 65% off fashion boots, 35% off fragrance sets, 50% off all Craftsmen Mechanics tool sets, 60% off the NordicTrack fleece at only $9.99 (Reg. $26 ), Samsung 46-inch 3D TV for $999.99 (save $600 ) and 55% off sleepwear and sets for kids.