FINANCE

The Finish Line’s Running Specialty Group acquires four-store, NYC-based JackRabbit Sports

BY Marianne Wilson

Denver — The Running Specialty Group (RSG), a division of The Finish Line, has expanded its presence in the New York City area with the addition of JackRabbit Sports, consisting of four locations. Additionally, JackRabbit owner and founder, Lee Silverman, will join RSG’s leadership team in Denver as senior VP of brand strategy.

“We are extremely proud to have JackRabbit join the RSG family and to further strengthen our leadership team through Lee’s vast knowledge of the specialty channel,” said Running Specialty Group president Bill Kirkendall. “Lee has built a very strong, industry-leading brand in the New York metro area. We look forward to continuing Lee’s vision of expanding the JackRabbit brand in the region, which is a key target market for RSG.”

JackRabbit opened its doors in 2003 and serves runners throughout NYC with its locations in Brooklyn, Union Square, on the Upper East Side and the Upper West Side.

In addition to sponsoring local races and teams, JackRabbit offers training programs for all fitness levels centered on running, cycling and swimming, as well as triathlon and cross training.

The Running Specialty Group operates 75 specialty running stores in 16 states and the District of Columbia under a variety of different banners.

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FINANCE

Family Dollar CEO to cut company stake again

BY Dan Berthiaume

Matthews, N.C. – Howard Levine, CEO of Family Dollar Stores Inc., intends to reduce his holdings of company stock for the second time in a month. In an SEC filing, Levine said he will sell up to two million shares of Family Dollar stock in an effort to diversify his portfolio.

In February 2015, Levine sold about 1.77 million shares of Family Dollar stock for $134.5 million. Family Dollar is in the process of being acquired by Dollar Tree Inc.

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MOBILITY

Boots U.K. pilots MobileFirst sales assist app

BY Dan Berthiaume

Nottingham, U.K. – IBM Inc. is expanding the IBM MobileFirst for iOS portfolio of apps for retailers. Boots U.K. and American Eagle Outfitters are among the retailers who have signed on for MobileFirst apps.

“The pilot of the IBM MobileFirst for iOS Sales Assist app will seek to explore how we can further empower our colleagues to be able to turn each customer interaction into a unique and personal experience," said Robin Phillips, director of multichannel, Boots U.K. "Boots colleagues will have access to real-time data and insight from across the company in the palm of their hands, allowing them to offer shoppers even greater levels of service- including real-time stock availability and easy in store ordering."

New Mobile First apps for retail include Dynamic Buy, which gives retailers gain real-time perspective and data-driven recommendations on how products are performing and seasonal recommendations, for example, helping retailers realize better return on investments, according to IBM.

Built exclusively for iPhone and iPad, IBM MobileFirst for iOS apps are delivered in a secure environment, embedded with analytics and linked to core enterprise processes. The apps can be customized for any organization and easily deployed, managed and upgraded via cloud services from IBM specifically for iOS devices.

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