Epicor extends agreement as Ace Hardware’s only recommended POS provider
Dublin, Calif. — Epicor Software Corp., a global provider of business software solutions for manufacturing, distribution, retail and services organizations, and Ace Hardware Corp., the largest retailer-owned hardware cooperative in the industry, announced an extended three-year agreement.
Under the arrangement, Epicor serves as Ace Hardware’s only recommended point of sale solution provider, with Epicor Eagle business management software offered to Ace’s retailer owners.
The extended partnership with Epicor will continue Ace’s trend of supporting individual stores by providing a fully integrated technology solution to its 14 distribution centers in the United States and 4,600 stores around the globe.
“We look forward to continuing our relationship with Epicor the next three years to enhance Ace store operations by further simplifying processes in the store, and tightening integration between the Epicor store system and Ace business systems,” said Mike Elmore, CIO for Ace Hardware Corp.
GE Capital Retail Bank, Sam’s Club extend member credit card program
Stamford, Conn. — GE Capital Retail Bank, a consumer lending unit of General Electric Co., and Sam’s Club announced their multi-year agreement to continue providing the Sam’s Club credit card program to their Advantage and Business members.
GE Capital’s Retail Finance business will continue to manage the Sam’s Club relationship and service the account.
“Our members value having the convenience of a dedicated line of credit to use for all their in-Club and online purchases, and we are pleased to continue providing these payment options through the renewal of our credit card program,” said Alex Aguila, senior director, financial services for Sam’s Club. “GE Capital Retail Bank understands the needs of our Members and has helped us create solutions over the last 19 years that are versatile and build repeat business.”
Kohl’s Q2 profit beats expectations on cost controls; sales disappoint
Menomonee Falls, Wis. — Kohl’s Corp. reported a better-than-expected second-quarter profit amid efforts to control costs. Sales, however, disappointed.
The retailer posted a second-quarter profit of $240 million, down from $299 million in the year-ago period.
Net sales were $4.2 billion, down 1.0% from last year. Same-store sales decreased 2.7% for the quarter.
“Our sales performance in the second quarter was disappointing,” said Kevin Mansell, Kohl’s chairman, president and CEO. “Our gross margin performance for the quarter, however, was better than expected. Our teams remain disciplined in their expense management and, again, delivered solid results. We accomplished our goal of improving inventory levels for the fall season and our sales improved considerably in July as units were received.”