C-SUITE

Exec appointment at Timberland

BY Marianne Wilson

VF Corporation announced the promotion of Jim Pisani to the position of global brand president, Timberland, effective immediately.

Pisani most recently served as president of VF’s licensed sports group.

“Jim is a tremendously talented and accomplished executive with a proven track record of delivering consistent business results and generating new growth opportunities,” said Scott Baxter VP, VF and group president, outdoor & action sports Americas. His passion, energy, and embodiment of the values deeply rooted in the Timberland brand and in VF make him the ideal leader to guide the brand into its next phase of global growth.”

VF Corporation operates a diversified portfolio of brands that include The North Face, Timberland, Vans, Nautica and Lee and Wranglers.

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POS/PAYMENTS

Supermarket chain down under upgrading checkout experience

BY Marianne Wilson

Coles Supermarkets, one of Australia’s largest supermarket retailers, is deploying a new solution to improve customer checkout experiences and operational efficiency.

The retailer is adding NCR’s RealPOS XR8 as its future POS terminals. Coles also plans to upgrade more than 4,000 POS units in the next financial year.

The XR8’s compact design allows it to fit into nearly any retail environment, while its unique new design enables front or rear peripheral configuration, which simplifies cabling and service accessibility, according to NCR. In addition, all input/output connections are behind a locking door for added security. NCR’s image recovery button lets store associates easily restore a corrupt POS system within seconds.

“As our long established partner, NCR provides us with innovative solutions that allow us to deliver the best retail experience to our customers,” said Nick Delija, IT general manager at Coles. “NCR’s latest innovations, such as the NCR RealPOS XR8, make serving customers faster and easier while allowing us to use a single platform for conventional and assisted checkouts.”

NCR is supporting Coles in its store checkout operations with a range of innovative hardware and software solutions. Coles operates more than 780 stores and processes more than 20 million customer transactions each week.

NCR provides advanced point-of-sale technology for Coles Supermarkets and Coles Express stores.

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FINANCE

South African-based retail giant enters U.S. with $3.8 billion acquisition

BY Marianne Wilson

A company relatively unknown outside its home base has entered the U.S. retail market in a deal to acquire Mattress Firm Holding Corp., the largest mattress retailer in the United States.

Steinhoff International Holdings will acquire Mattress Firm, whose assets include Sleepy’s, for $64.00 per share in cash, which represents a premium of 115% over the company’s closing stock price of $29.74 on Friday, August 5, 2016. The price represents a total equity value of approximately $2.4 billion and an enterprise value of approximately $3.8 billion, including net debt.

The acquisition is expected to create the largest multi-brand mattress retail distribution network in the world. Steinhoff, which is often referred to as the Ikea of Africa, is an integrated retailer that manufactures, sources and sells furniture, household goods and clothing in Europe, Africa and Australasia. It operates more than 40 brands in 30 countries.

Houston-based Mattress Firm operates more than 3,500 stores in 48 states, with sales of $3.5 billion in 2015. The Houston-based retailer will operate as a subsidiary of Steinhoff from its Houston headquarters. Steve Stagner, executive chairman and chairman of the board of Mattress Firm, and Ken Murphy, president and CEO of Mattress Firm, will remain in their positions. Stagner will join Steinhoff’s executive committee.

“Today’s announcement marks an exciting new chapter for Mattress Firm that will open up future opportunities for our employees, our customers and our business partners,” said Murphy. “We remain focused on our long-term strategy to build a national chain under one banner in the U.S. and we will continue activating and unlocking the true power of all of the assets we have assembled to truly become the preferred choice for better sleep.”

The acquisition is expected to close by or around the end of the third calendar quarter, subject to regulatory approvals.

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