STORE SPACES

Dollar General selects Action Services Group

BY Dan Berthiaume

Acton, Pa. – Action Services Group has signed a service agreement with Dollar General Corporation to provide its lighting, sign and electrical maintenance services to an additional 534 Dollar General store locations across Connecticut, Michigan, New Hampshire, New Jersey, New York, West Virginia and Vermont.

With the 768 Dollar General locations already being handled by Action Services Group in Delaware, Maryland, Pennsylvania and Virginia, it now brings the total number of Dollar General stores that Action Services Group services to nearly 1,500.

“We are extremely excited by Dollar General’s confidence in us to give us this incremental business,” said Ted Stouch, president and CEO of Action Services Group. “This signifies to me that over our two year relationship with Dollar General, they have realized the on-time service benefits and cost saving benefits that our ‘one-call-one-technician’ for all three services (lighting sign and electrical maintenance) has provided them.”

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FINANCE

Report: Saks settles investors suits related to HBC buyout

BY Dan Berthiaume

New York – Saks Inc. has settled lawsuits from investors related to its proposed buyout by Hudson’s Bay Company (HBC). According to Bloomberg, Saks has reached an agreement that reduces the termination fee it would pay HBC in the event the purchase does not happen and reduces the time Saks has to seek alternative offers

In July 2013, HBC made a $2.4 billion bid to buy Saks. The figure is about 30% higher than Saks’ closing value on May 20, 2013, the day before it became public Saks was considering a sale. Saks detailed its plan to settle investor suits in a filing with the Securities and Exchange Commission.

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MARKETING/SOCIAL MEDIA

Report: Penney denies Twitter allegations

BY Dan Berthiaume

Plano, Texas – J.C. Penney Co. has reportedly been defending itself against anonymous allegations made on Twitter. According to Bloomberg, J.C. Penney recently had to publicly deny tweets saying the company had hired a bankruptcy attorney and no longer had Canadian credit.

J.C. Penney’s stock fell almost 9% on Oct. 15, the date the bankruptcy tweet appeared, and fell almost 5% on Oct. 18, the date the tweet about Canadian credit appeared. Analysts say anonymous Twitter attacks are not likely to become a common problem for companies, but J.C. Penney is vulnerable to social media attacks due to its recent troubles.

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