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Tesco expects 30% energy savings from all-LED store
September 18, 2012

New York -- Tesco has opened its first all-LED store as the United Kingdomโ€™s largest retailer continues its drive to reduce carbon emissions from its operations. Tesco expects that the use of the LEDs in its new Express location, in Loughborough, England,...

Survey finds that retail fraud is taking a great financial toll
September 18, 2012

Atlanta -- The โ€œTrue Cost of Fraudโ€ study by LexisNexis found that retailers incurred $2.70 in costs for every dollar in fraudulent transactions. The cost incorporates charge backs for merchandise, the fees and interest to financial institutions and...

Study: Retail CFOs forecast 4.5% increase in total 2012 sales
September 18, 2012

Chicago -- A study released on Tuesday by BDO USA found that retailers are generally confident that year-end sales will top last yearโ€™s. According to the sixth-annual BDO Retail Compass Survey of CFOs, which examined the opinions of 100 leading retail...

Ikea CEO to step down
September 18, 2012

Stockholm, Sweden -- Ikea said Monday that its CEO Mikael Ohlsson will step down effective Sept. 1, 2013, and will be succeeded by Peter Agnefjall, current country manager of Ikea Sweden. To prepare Agnefjall for his new role, Ikea said that he will...

For Retailers, Smartphones May Not Yet Mean Payments, But They Do Mean Purchases
September 18, 2012

Square's $200 million Series D and $3.25 billion valuation yesterday may have risen expectations massively for where mobile payments will ultimately go, but for now the vast majority of us are still pulling out our cash, cards and checks to buy things. A study from Deloitte, notes that today in the UK only 1% of mobile consumers have ever used a handset to pay for something in a retail location. However, it also provides some convincing evidence that we are at least well on our way to linking mobiles - specifically smartphones - to retail purchases anyway.

Lowe's Withdraws Bid to Buy Rona; Remains Committed to Canadian Growth
September 18, 2012

Lowe's said Monday it has withdrawn its bid to purchase Canadian home-improvement retailer Rona. The $1.86 billion unsolicited acquisition proposal had earlier been rejected by Quebec-based Rona, which said the offer was not the best deal for its shareholders. The proposal generated discord among Rona's dealer companies, many of whom threatened to sever their ties with Rona should Lowe's succeed in its acquisition attempt. In a Monday statement, Lowe's said

Abercrombie & Fitch takeover speculation increases, Bloomberg reports
September 18, 2012

Abercrombie & Fitch Co. (ANF) could well be a takeover target, reports Bloomberg. The stock has lost 21% this year, the most among U.S. specialty apparel retailers valued at more than $1B, according to data compiled by Bloomberg. That has increased the...

Retail Websites Slowing Down
September 18, 2012

Todayโ€™s retail websites are getting slower according to new data released by Strangeloop Networks in its quarterly report on e-commerce page speed and website performance. Strangeloop measured 2,000 retail websites and found that they were a...