OPERATIONS

Dillard’s taps Kiva to fill online orders

BY Staff Writer

San Diego — Dillard’s has selected Kiva Systems for order fulfillment at its new, 850-sq.-ft. e-commerce fulfillment center in Maumelle, Ark.

"The enhancement of the online shopping experience at Dillards.com is a major focus of our efforts in 2011," says Alex Dillard, president of Dillard’s, which operates 294 locations and 14 clearance centers across 29 states. "We are developing a fulfillment center that can expand with increased sales and support the wide variety of merchandise we offer online. We chose Kiva because we want our customers to have the same gratifying experience with our online store as they do when making an in-store purchase. Kiva is ideal for us because it can easily expand and adapt to changing merchandise as we introduce new products to our online store."

Kiva is a complete order fulfillment solution that encompasses inventory control, forward replenishment, picking, packing, shipping sortation, finishing and quality assurance to simultaneously improve fulfillment center productivity, speed, accuracy and flexibility. It uses hundreds of robotic drive units that bring inventory on mobile shelves directly to workers, allowing easy access to all items and eliminating time spent walking the warehouse floor.

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FINANCE

Macy’s signs bank credit agreement

BY Staff Writer

Cincinnati — Macy’s has entered into a $1.5 billion bank credit agreement that will mature on June 20, 2015. It replaces a previous $2 billion facility, which was set to mature on August 30, 2012. Joint lead arrangers for the new agreement are J. P. Morgan, Bank of America Merrill Lynch, Credit Suisse, U.S. Bank and Wells Fargo.

"Because of our strong cash flow and improved balance sheet, we were able to enter into a bank agreement with more favorable terms and pricing. We were also able to reduce the size of our credit facility given our current and anticipated needs,” said Karen M. Hoguet, CFO of Macy’s.

The company now expects its interest expense in 2011 will be approximately $442 million, which compares with previous guidance of approximately $450 million.

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REAL ESTATE

Westside Market to open in Manhattan

BY CSA STAFF

New York City — New York City-based Winick Realty announced that Westside Market has leased its fourth Manhattan location at 2589 Broadway, between 97th and 98th Streets on the Upper West Side.

The 46-year-old family-owned food market and caterer took a total of 15,607 sq. ft., including 8,607 sq. ft. on the ground floor and 7,000 sq. ft. on the lower level. It currently runs two additional Upper West Side locations, as well as one in Chelsea.

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