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Belk has opened a new 515,000 square-foot distribution/fulfillment center in Jonesville, S.C. to support its growing e-commerce operations. The department store retailer is making a $4.5 million capital investment in the new facility, which is scheduled to be fully operational beginning July 9. The fulfillment center, located in a facility formerly occupied by Disney, is expected to generate 124 new jobs over the next five years.
Kohl's will expand its solar program by nearly 25 percent this year, installing solar panels at approximately 30 additional stores. The department store retailer expects to have more than 150 solar locations across 13 states by the end of 2012. On average, the panels supply 20 percent to 50 percent of each store's energy requirements. "After adding 20 solar locations in 2011, we're pleased to continue growing our solar program in 2012," said Kohl's Chief Administrative Officer John Worthington in a statement.
Tokyo-based ABC-Mart acquires LaCrosse in a $138M deal Japanese shoe retailer ABC-Mart Inc. (TSE: 2670) is spending $138 million for LaCrosse Footwear Inc. (Nasdaq: BOOT). ABC-Mart, known for athletic and business footwear, expects to close the deal in the third quarter. The purchase price, about $20 per share in cash, represents an 82 percent premium over the closing price on July 5. Tokyo-based ABC-Mart tapped Barclays plc and Paul Hastings LLP as financial and legal advisers, respectively. Wells Fargo Securities ran the sale process for Portland, Ore.-based LaCrosse. Law firm Garvey Schubert Barer handled legal matters. For more information
With everyone from brands to magazines tripping over themselves to ramp up e-commerce these day, it seems counterintuitive that online-only retailers are tapping back into the perks of shopping in the physical world. But they are.
Blame it on poor performance data or short attention spans, but the daily deal space has lost the attention of many in the media and research community. Forrester, for one, recently projected minimal success for such sites. A new study funded by Rice University, however, portrays a strong sector with no signs slowing down.
has more retail stores in Pennsylvania than in all of China — where it earns a fifth of its revenue — and a slow pace of expansion may cost the firm more than just sales.
EMERYVILLE, Calif. — Educational toy manufacturer LeapFrog Enterprises announced that chief financial officer Mark Etnyre has resigned from the company in order to spend more time with his family and pursue personal interests. The resignation will be effective as of Oct. 1. "Mark has built an excellent finance organization and made significant contributions to LeapFrog's success over the past five years," said John Barbour, LeapFrog's chief executive officer. "During his tenure, we improved our financial operations and significantly improved our balance sheet and profitability. We thank Mark for his hard work and dedication, and we wish him
Travel retail has long been a fixture for brands like Estée Lauder Cos Inc and LVMH's Louis Vuitton. But sales at airports and other travel venues have risen far more quickly in recent years than at regular stores for many chains, putting this area of retailing front and centre in many companies' expansion plans.