Good news for J.C. Penney

J.C. Penney announced a positive development on the financial front.   The department store retailer announced it has successfully completed refinancing its $2.25 billion five-year senior secured term loans, which should generate about $24 million in interest expense savings.

Source: Good news for J.C. Penney

Nike exec joins Restoration Holdings board

Restoration Hardware Holdings Inc. (RH) has appointed Hilary Krane to its board of directors, effective immediately.   Krane is the executive VP, chief administrative officer and general counsel of Nike Inc. She will also serve on the board’s audit committee. Prior to joining Nike in 2010, Krane held various roles at Levi Strauss & Co., including senior VP, general counsel and corporate affairs.

Source: Nike exec joins Restoration Holdings board

PetSmart revs up store expansion

The nation’s largest specialty pet supplies retailer is upping its store growth this year.   PetSmart said it expects to open approximately 80 net new stores in fiscal 2016, up from 50 locations in fiscal 2015.     PetSmart is on its way to meeting its goal, having opened 12 net new stores in the United States and Canada during the quarter ended May 1, 2016. The new locations average over 12,000 sq. ft., and include service offerings such as grooming and pet training.

Source: PetSmart revs up store expansion

Books UK and IBM bring omnichannel functionality into the store

Boots, the U.K.-based pharmacy and beauty retailer, and IBM announced that Boots has launched Sales Assist, an IBM MobileFirst for iOS app, across its U.K. stores to make it easier for customers to find the products they need.   Sales Assist is one of the 100-plus enterprise-focused apps that IBM has produced in collaboration with Apple for iPhone and iPad, aimed at a range of specific industries and professions.

Source: Books UK and IBM bring omnichannel functionality into the store