FINANCE

AutoZone sales rise below expectations

BY Staff Writer

Memphis – AutoZone reported net sales of $2.2 billion for third quarter fiscal 2013, representing a 4.5% increase from $2.1 billion during the same period in fiscal 2012. Meanwhile, net income increased almost 7% from $248.6 million to $265.6 million. Same store sales experienced a slight 0.1% dip compared to third quarter fiscal 2012.

AutoZone chairman, president and CEO Bill Rhodes said improved inventory assortment helped drive increased sales. “While sales results for the quarter finished below our expectations, we were pleased to see noticeable improvements in our performance during the final four weeks of the quarter, specifically in our more recently challenged Northeastern and Midwestern markets,” said Rhodes.

During the quarter, AutoZone opened 33 new stores, relocated three stores, and closed one store in the U.S. and opened seven new stores in Mexico.

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Google checks out on Checkout

BY Staff Writer

Menlo Park, Calif. – Google will close down its Google Checkout online payment service for good in November of this year. The online service and technology provider says the move is part of a broader transition to its Google Wallet multichannel commerce platform.

Until Nov. 20, retailers can continue accepting payments via Google Checkout. After that time, they will have to transition to a different solution. Retailers with their own online payment processing capability will be able to apply for the Google Wallet Instant Buy service, and others can take advantage of discounted integrations to Braintree, Shopify or Freshbooks services if they choose. Developers will be supported and automatically transitioned to the Google Wallet Merchant Center.

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Tabbedout wines and dines with Google Wallet

BY CSA STAFF

AUSTIN, Texas — Tabbedout has teamed up with Google to offer Google Wallet as a payment source in the Tabbedout app for Android. Consumers will now have the opportunity to pay from their smartphones, using their Google accounts, at thousands of Tabbedout locations.

As incentive for customers to give it a shot, the companies are offering for a limited time $7 off the next tab of any user who pays with Google Wallet in the Tabbedout app. The discount will be stored in their digital wallets automatically and will be instantly redeemed as soon as they use Google Wallet again on their Tabbedout app.

Tabbedout provides an application that makes payment of restaurant and bar tabs secure and quick. Through deep integrations with point-of-sale systems in more than 10,000 locations nationwide, Tabbedout is expanding its footprint among merchants and consumers.

Google Wallet is a virtual wallet that stores a user’s payment information securely and makes paying fast both in-store and online, including via mobile devices and apps. Thus far, Google Wallet can be used at a number of retailers, which include Toys “R” Us, Famous Footwear, OfficeMax, Sports Authority, CVS, Home Depot, Meijer, RadioShack and Walgreens.

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