Retail Industry

Retail Roundup: Tyco Acquires Vue, Shops Experiment with Sales, and More

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Tyco buys Vue -- Tyco International announced the $43 million acquisition of Vue Technology, a provider of radio-frequency identification technology, on Oct. 7. The purchase will help Tyco, which outfits retailers with security services, improve the technology portfolio offered through its Sensormatic business. Vue Technology allows retailers to track individual items through the supply chain from manufacturing facilities to the store shelves. [Source: Market Watch] Retailers chop prices, resort to 'unprecendented' sales -- Desperate retail businesses are responding to decreased consumer spending by slashing prices to lure skeptical shoppers back to the malls. While AnnTaylor Stores Corp. advertised an "unprecedented sale" with select items 60 percent off, Gap Inc. posted discounts of up to 40 percent. Steve Madden Ltd. even addressed the bleak economy with posters reading: "Sell Stocks, Buy Shoes." Yet the retail chains' numerous promotions have been met with limited success as experts predict significant drops in sales. [Source: WSJ] Macy's considers smaller stores at conference -- Area experts dissected the new and interesting direction in which the retail industry is heading at the International Council of Shopping Centers Southeast Conference on Oct. 6. Macy's, known for its sprawling department-store design in malls across America, is considering smaller stores. Smaller stores would allow the chain to look at fresh real estate opportunities in a time when traditional department stores are being beaten into the ground by the economy. Also discussed at the conference: the growing trend of consumers relying on discount retailers like TJ Maxx and Burlington Coat Factory. [Source: Atlanta Journal-Constitution] RadioShack gains new exec -- RadioShack Corp. announced that Lee Applbaum will join the electronics retailer and is set to serve as the chain's new executive vice president and chief marketing officer. Applebaum, whose resume includes positions with big-name companies like Coca-Cola, Schlotzsky's, and David's Bridal, is hopping on board with a company plowing ahead toward big changes. The chain's dramatic turn-around efforts include revamping the look of two-thirds of its stores. [Source: Internetretailer]

posted by Danielle Novy
October 7, 2008 @ 2:17 pm

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