Specialty retailer Conn’s is preparing for its newest round of securitization. Conn’s has entered into an agreement to securitize approximately $700 million of retail installment contract receivables, with an expected Oct. 6 closing. The face amount of the notes to be issued is $1.12 billion, with an advance rate of 77.5% of the outstanding customer receivables portfolio balance. This equates to approximately 89.5% of net book value at July 31, 2015.
Farm-and-ranch industry leader Tractor Supply has always been interested in the pet business, and it even operates two standalone HomeTown Pet stores in Tennessee.
Shoppers at select West Elm stores will soon have their very own listening rooms — with state-of-the art sound speakers. The home furnishings retailer announced a partnership with Sonos to sell the company’s sound speakers and components in its U.S. stores and website, and to install “Sonos listening labs” in 16 West Elm stores. The listening rooms will be outfitted with West Elm’s signature modern furnishings and accessories and Sonos home sound system products.
One year later, retailers still await the promise of chip-card security. The one-year anniversary of the Europay, MasterCard, Visa (EMV) mandate is looming, yet delays by the card industry have left thousands of new chip readers unused and consumers with far less improvement in security than what was expected, according to a recent survey from the National Retail Federation.
Who says you can’t go home again? Certainly not Gap Inc., which appointed Jamie Gersch as the senior VP, chief marketing officer of its Old Navy banner, reported adage.com. She replaces Ivan Wicksteed, who left the company in March. She will come aboard at the end of October.
Knowing business is not just about sales, Staples leads the charge when it comes to responsible business practices. The chain’s positive impact on society — and the planet, as a whole — has earned Staples a place on the Dow Jones Sustainability Index for the thirteenth year in a row. The global benchmark weighs corporate responsibility and sustainability performance among the largest 2,500 companies listed on the Dow Jones Global Total Stock Market Index.
Interactive media continues to shake up retailers’ digital marketing strategies.
A Chicago startup has landed partnerships with four major online retailers, including Target, to launch a product meant to rival Amazon’s Alexa, according to the Chicago Tribune.
Skechers now allows shoppers to manage their shopping experience from the palm of their hand.
Walmart’s next e-commerce power-play is reportedly in the works. In its latest move to compete against its online nemesis amazon.com, Walmart is reportedly ready to invest up to $1 billion in Flipkart, according to an article in Quartz.
Source: Walmart ups the e-commerce ante