News

SAN FRANCISCO and CINCINNATI — A Procter & Gamble potato chip brand will merge with a snack company in a $2.35 billion deal.

New York City -- Macy's CEO Terry Lundgren’s compensation package dipped 8% in 2010 to nearly $11.8 million, according to an analysis by The Associated Press.

Lundgren received a salary of $1.5 million in 2010, the same as the year before. The stock awards he received were valued at $3.6 million when they were granted, about a 50% rise over what he received the year before, according to a Securities and Exchange Commission filing.

LOS ANGELES -- American Apparel announced that it has launched its first line of jeans called, "Made in USA."

"Jeans are an iconic, essential part of the modern wardrobe, just like the t-shirt. No one does basics like American Apparel. We've mastered the basic t-shirt, now we're getting excited about jeans," said Dov Charney, CEO and founder of American Apparel.

According to the company, the first styles in the American Apparel Jeans line will be constructed of a 14 ounce denim made of 100% cotton.

INDIANAPOLIS -- Mall owner Simon Property Group announced Tuesday that it has completed its first installation of an electric vehicle charging station at one of its shopping centers.

The initial installation has been completed at Simon's Florida Mall in Orlando and will be complete at Stanford Shopping Center in Palo Alto, Calif., later in April.

New York City -- Blockbuster's bankruptcy auction is set to stretch into a second day on Tuesday after preliminary talks between bidders and the chain's representatives dragged on late into Monday, a company spokesman said.

Blockbuster did not say how many bidders it attracted, but halls outside the auction room in Manhattan bankruptcy court were packed with attorneys and investment bankers refining their bids throughout Monday, Reuters reported.

The art and science of researching how shoppers decide is at a crossroad.  The  shopper insights discipline originally developed when retailers began saying to CPG manufacturers that they have a thorough understanding of behavioral data and its findings, but lack a genuine grasp of how their customers and non-customers think and the “why” that drives that behavior.

With its outdoor underpinnings and Swiss accents, Wenger, in Boulder, Col., is the perfect showcase for the legendary 116-year-old company, which is best known as the maker of the “genuine” Swiss Army Knife. The 3,000-sq.-ft. store, which took top honors in the Association for Retail Environments’ 2011 design awards, is the firm’s first freestanding store in the United States.

MENOMONEE FALLS, Wis. -- Kohl’s Department Stores announced the completion of its private-label credit card portfolio transfer to Capital One Financial Corporation, effective as of April 1, 2011. Capital One has acquired the more than 20 million existing Kohl’s Charge accounts and through the seven-year agreement will offer private-label credit cards to new and existing Kohl’s customers.