 | February 22, 2011 | News for the retail industry |  |  | |
- J.C. Penney rolls out new logo and slogan
J.C. Penney has redesigned its logo and revamped its slogan in time for a campaign set to launch during Sunday night's Academy Awards show. The logo keeps the company's traditional red and white colors, but gives it a more modern look with the name written in lowercase letters. Seven new 30-second commercials will focus on the chain's exclusive lines including MNG by Mango, Liz Claiborne and Cindy Crawford Style, and will feature the new slogan: "We make it affordable. You make it yours." Women's Wear Daily (subscription required) (2/22)        - Best Buy to shut down branded stores in China, Turkey
Best Buy, the U.S.-based consumer electronics giant, is striving for significant savings by closing branded stores in Turkey and China. The retailer will focus on its Five Star operation in China and Best Buy Mobile business in the U.S. for store openings next fiscal year. Reuters (2/22) - Wal-Mart looks to its roots to turn sales around
Wal-Mart reported its seventh straight quarter of U.S. same-store sales declines this week, a trend the retail giant aims to reverse by returning to the "everyday low price" strategy perfected by founder Sam Walton. The chain veered away from that strategy in recent years to compete with Target and other growing brick-and-mortar and online rivals. Wal-Mart plans to ramp up its head-to-head rivalry with Target by opening 50 or more new stores in Target's home state of Minnesota during the next eight years. The Wall Street Journal (2/22), Star Tribune (Minneapolis-St. Paul, Minn.) (2/20), CNNMoney.com (2/22) - Wal-Mart said to be scouting for smaller Nevada locations: Wal-Mart Stores appears to be looking for four or five locations in and around Reno, Nev., for smaller-format Neighborhood Market stores, which resemble traditional groceries. The company has five Reno-area Supercenters and another being built, so "it is only logical in time that we backfill with the Neighborhood Market format," said Douglas Baker, whose company acquires sites for Wal-Mart in two states. Wal-Mart may also site a Neighborhood Market in Menomonee Falls, Wis. Northern Nevada Business Weekly (Reno) (2/21), Milwaukee Journal Sentinel (2/21)
- Blockbuster enters $290 million buyout deal
Blockbuster has entered into an asset-purchase agreement with a group of its debt-holders, setting $290 million as the minimum bid rivals must meet if they want to acquire the bankrupt video-rental chain's assets out of bankruptcy. The agreement would force the company to close over 600 stores by February's end and includes a provision allowing the consortium, Cobalt Video Holdco, to convert the Chapter 11 bankruptcy reorganization into a Chapter 7 liquidation. Canada.com/Reuters (2/21), The Wall Street Journal (2/22)  | 25 Seasoned Merchants Share Their Perspective on Social and Mobile — In Part III of the Merchant Rules by Lauren Freedman, merchants representing a cross-section of retailers and brand manufacturers discuss how they create a compelling customer experience across channels including smartphones and tablets, Twitter and Facebook. Learn more | - Retail buyers found plenty to like at Fashion Week shows
Polish and glamour were the watchwords in New York last week as retail buyers combed designers' fall collections for the fashions they'll feature a few months from now. Fur-trimmed outerwear proved a particular favorite with executives from Saks, Bloomingdale's and Bergdorf Goodman. "Bring back the glamour," said Stephanie Solomon, vice president of fashion direction at Bloomingdale's. "When glamour is back, it usually is good news for retail." Women's Wear Daily (subscription required) (2/18) - Tom Ford's fashion evolution
Iconic designer Tom Ford is turning his back on his lavish fashion shows in favor of private showings of his collections with little or no advance press before they hit retail. "What interests me today, after having worked 25 years in the fashion industry, is the very best -- the best fabrics, not the second best, the best quality and stitching. I want clothes that will evolve more than they will radically swing," Ford said. Los Angeles Times (2/20) - Making sense of scents
Ann Gottlieb has turned her strong sense of smell into a career as a professional "nose," coordinating efforts between beauty brands and the fragrance houses that create scents including Calvin Klein's Obsession and Christian Dior's J'adore, and working with beauty retailers including Bath & Body Works to create proprietary scents. "I can smell 100 things in a row and still be confident that I can smell accurately," she said. The Wall Street Journal (2/19)  | Stop Being Ripped-off Twice
Fraud is the #1 reason for chargebacks for card-not-present merchants. If your ecommerce site is experiencing high chargeback rates or if your organization is in an Excessive Chargeback Program with Visa or MasterCard, Kount can help...fast. Get your chargebacks under control in 60 days or less, or it's FREE. Click here |  | Main Street |  | | | - 10 tips for raising capital as the economy gathers steam
Who better to give funding advice than the entrepreneurs who raised capital during the worst climate in years? Monica Mehta asks these visionary business owners and investors how they did it and what advice they have as credit standards loosen. Among their words of wisdom: Be coachable, and never approach investors in July, August or December. Bloomberg Businessweek (2/18)
| NRF News | | | | - Americans to spend a little, save more with tax returns this year
More than 13 percent of Americans may be planning to splurge with their 2010 tax refund, but even more U.S. consumers -- more than 40% -- will be playing it safe by padding their savings accounts. The findings of NRF's 2011 Tax Returns survey, conducted by BIGresearch, may point to a new consumer mindset following the past years' recession: It's best to be financially prepared for the worst. Read more. - NRF SmartStat: Feb. 22, 2011
 40% of retailers plan to use or expand their CRM initiatives beginning in 2011, 13% more than forecasted for 2010. Source: Retail Horizons 2011 - Racie 2010 award finalists named
Finalists for the most creative and innovative advertisements in retail have been announced. Brands like Kohl's, Express, AutoTrader, Best Buy and Fashion Bug are in the running to take home awards in television, mobile apps, gift cards and in-store non-digital. The winners will be announced at the annual Racie Awards Luncheon held at INNOVATE '11, March 8-10 in San Francisco. View a complete list of finalists.
| Chain Restaurant News | | | | - Domino's adds new chicken options to its revamped menu
Domino's Pizza introduced new chicken items nationwide this week, the next step in a menu reinvention that began more than a year ago with the high-profile introduction of its new pizza recipe. The chain replaced its Chicken Kickers with crispier boneless wings in several flavors. Customers typically order chicken and other non-pizza items to go with their pizza orders, so the new products may help boost the average check size, analysts say. The Detroit News (2/21) - Tin Star takes a more cautious approach the second time around
Dallas-based Tin Star Taco Bar is a fast-casual concept that almost failed after an early franchising program resulted in a store base too wide for the company to adequately support. Former Lone Star Steakhouse executive Mike Rangel bought the struggling chain in 2008 and put the franchise program on hold to work on perfecting the basics. Today the chain is growing, with 11 locations and plans to expand the brand in Texas before moving on to other states. FastCasual.com (2/21)  | |  | | | | |  |  Merchandise Planning and Inventory Management Senior Manager | Kurt Salmon | Multiple Locations, United States | | Product Development and Sourcing Senior Manager | Kurt Salmon | Multiple Locations, United States | | District Sales Manager- Texas & Oklahoma Market | Lakeshore Learning Materials | Houston, TX | | VP MS, SOFTLINES DIV | AAFES | Dallas, TX | | BUSINESS PLANNING BRANCH MANAGER | AAFES | Dallas, TX | | SR IT AUDIT ANALYST | AAFES | Dallas, TX | | Associate Creative Director: In-home Communications | PetSmart | Phoenix, AZ | | Director of Merchandising | Lakeshore Learning Materials | Carson, CA | | Buyer (Consumer Electronics) | Purchasing Power | atlanta, GA | | Multi-Channel Strategy Sr. Manager | Deloitte Consulting LLP | Nationwide, United States | | Project Manager, Multi-Channel POS | Sports Authority | Englewood, CO | | Vice President, Sterling | Sterling Shoes Inc. | VANCOUVER, Canada | | Senior Vice President, Communities & Networks and Executive Director, Shop.org | National Retail Federation | Washington, DC | | | |  | |  |
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