FINANCE

GE Capital is administrative agent on credit facility for Lord & Taylor

BY Staff Writer

Norwalk, Conn. — GE Capital announced it is administrative agent on a $550 million senior secured credit facility for Lord & Taylor, a leading North American retailer. The proceeds will be used to refinance debt, support ongoing working capital needs and for other corporate purposes.

GE Capital also provided the company with interest rate risk management products and services. GE Capital Markets served as joint lead arranger and book runner.

“The customer focus and retail expertise of the GE team is apparent,” said Michael Culhane, CFO for Lord & Taylor, which operates 49 stores and is a wholly owned subsidiary of Hudson’s Bay Company. “They worked hard to provide the right financing products and services to allow us to optimize our capital structure.”

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OPERATIONS

RetailMeNot upgrades Android app

BY Staff Writer

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Austin, Texas – Digital coupon provider RetailMeNot Inc. is now including location-based offers in its free Android app. Users can either receive notifications of in-store coupons when they cross a GPS boundary line, find coupons for stores in nearby malls, or display their smartphone at checkout to receive discounts from the cashier.

"We’re excited to provide a superior user experience for deal hunters using our updated and free RetailMeNot Android coupons app," said Jag Bath, senior VP of product, RetailMeNot Inc. "The new location based offers technology will help a huge population of mobile users save money on products that they buy at hundreds of malls across the United States where they shop on a frequent basis.

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News

RetailMeNot upgrades coupon app for Android

BY CSA STAFF

AUSTIN, Texas — RetailMeNot.com, a U.S.-based digital coupon website, has upgraded its free Android coupons app to include location-based offers for thousands of retail locations at hundreds of general shopping malls nationwide.

RetailMeNot launched its free coupons app for iPhone and Android phone users in mid-2012. During the 2012 holiday season, RetailMeNot enabled users of its iPhone app to receive notifications of available digital coupons when they visited nearly 500 U.S.-based general shopping malls. It has now extended the same capability to Android phone users who have the coupons app.

"With more than 4 million downloads, more and more consumers are using the RetailMeNot coupons app on both iPhone and Android phones to discover great deals when shopping," said Cotter Cunningham, RetailMeNot’s CEO and founder. "As mobile traffic continues to be a meaningful and growing channel for our business, we look forward to working with our retail partners to help them drive more sales online and in-store."

Consumers can either download the coupon app on their Android phone within the Google Play store or upgrade their existing app. The app allows consumers to receive a notification promoting available in-store coupons for nearby stores when crossing a GPS-aware boundary line around a general shopping mall. Consumers planning a shopping trip can search for in-store coupons for specific stores in nearby shopping malls, or request that their favorite stores offer coupons and deals if none are available.

Consumers can save coupons for later use. The app also has an instant “tap-and-paste” functionality that enables consumers to quickly use coupon codes within the checkout process at most online stores, an advancement over standard Android "select, copy and paste" functionality.

"We’re excited to provide a superior user experience for deal hunters using our updated and free RetailMeNot Android coupons app," said Jag Bath, RetailMeNot’s SVP, product. "The new location based offers technology will help a huge population of mobile users save money on products that they buy at hundreds of malls across the United States where they shop on a frequent basis. Shoppers will literally be alerted of deals at local stores when they walk in the door of their favorite mall."

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