New York City An Icelandic investor who has expressed interest in buying Saks is unlikely to pursue a bid this year, according to The New York Post.
Jon Asgeir Johannesson, chairman of Baugur Group, a retail conglomerate based in Iceland, said last month he was “actively” interested in purchasing Saks.
However, killing the chances of a possible pursuit is a worse-than-expected quarterly loss at Saks, as consumer spending tightened.
The move is also a result of a difficult environment to raise acquisition financing at a cheap-enough price, the report said.
Bloomingdale’s, Sony partner for music-themed campaign
NEW YORK Bloomingdale’s has launched its longest running multi-media campaign, which will include more than 840 catalog pages, 800 newspaper and magazine impressions, 650 in-store events, signage, and e-mail blasts. The campaign, which is anchored by a partnership with The Sony Music Label Group, will last through the holiday season.
Bloomingdale’s is featuring Sony artists throughout its fall catalogs, media and in-store signage.In addition, Bloomingdale’s has dedicated areas in all stores in which new releases from select Sony artists are available for purchase.
A.C. Moore launches customer loyalty program
BERLIN, N.J. A.C. Moore has launched a new customer loyalty program, A.C. Moore Rewards.
A.C. Moore Rewards is a points-based program where members receive a $10 Reward Certificate each time they reach 200 points. Points are awarded at the rate of 1 point for every $1 purchased and double points are awarded for purchases of $100 or more. The program’s Web site: www.ACMooreRewards.com also offers members a convenient way to track their points or view special promotions and offers online.
“We want our customers to have the best possible shopping experience at A.C. Moore. Our rewards program gives members new opportunities to save in addition to our everyday low prices,” said Joe Jeffries, evp of operations for A.C. Moore. “Our message is simple: You shop. We reward.”
A.C. Moore Rewards launched as a pilot in 17 retail locations, and will soon be available in over 130 stores. A.C. Moore hopes to continue to expand the program benefits in the future.