Foot Locker gets approval for Runners Point purchase
New York — Foot Locker has received approval from the Federal Cartel Office in Germany to complete its acquisition of Runners Point Warenhandelsgesellschaft mbH (RPG), initially announced in May 2013. RPG is majority owned by private equity group Hannover Finanz and operates more than 200 specialty athletic retail stores in Germany, Austria, The Netherlands and Switzerland under various banners, as well as an e-commerce site.
The transaction, valued at roughly $94 million, is expected to close early next month.
As of May 4, Foot Locker operated 3,321 stores in 23 countries in North America, Europe, Australia, and New Zealand, as well as several e-commerce sites.
Domino’s launches Pinterest program
Ann Arbor, Mich. — Domino’s is offering a new program called “Second Hand Logos” on Pinterest. Ten artists are using old materials featuring the old Domino’s logo, such as uniforms and signage, to create artwork which is displayed for sale on Domino’s Pinterest page. In addition to selling products, the Pinterest page will also provide updates on art projects and information on the artists. A separate dedicated e-commerce page will also bring visitors directly to the Domino’s Pinterest page.
"In addition to supporting a select group of very talented artists, we are truly giving our fans and customers the chance to own a piece of Domino’s history," said Russell Weiner, Domino’s Pizza chief marketing officer.
Old Man Winter chills Toys’R’Us Q1 sales
WAYNE, N.J. — Lingering cold weather and soft sales in its electronics and entertainment categories caused Toys”R”Us’ net and comparable store sales for first quarter ended May 4 to dip.
The company reported net sales of $2.4 billion, a decrease of nearly 8% from $2.6 billion for the quarter a year ago. The decline in net sales for the quarter was primarily attributable to a decrease in comparable store net sales, as well as a foreign currency translation impact of $67 million.
Comparable store net sales were down 8.4% in the domestic segment and 6% in the international segment. The overall decrease in comparable store net sales resulted primarily from decreases in the company’s juvenile, seasonal and entertainment (which includes electronics, video game hardware and software) categories.
“Similar to other retailers, our soft sales in the first quarter were partially impacted by the ongoing challenges of the global economic environment and the prolonged cool weather conditions around the world,” said interim CEO Antonio Urcelay. “Additionally, the continued weakness in the electronics and entertainment category negatively affected revenues.”
The company plans enhance its omnichannel capabilities to maximize sales through all channels, and expand its global reach, including throughout China and Southeast Asia, to deepen its assortment of differentiated products.