REAL ESTATE

Golfsmith to make international debut in South Korea

BY Staff Writer

Austin, Texas — Golfsmith International announced it will open its first retail stores outside the United States, in South Korea, which it called the fastest growing golf market in the world.

Golfsmith is opening the store in partnership with Golfzon Co., one of the world-largest sellers of virtual golf simulation systems. Under the terms of the agreement, the new stores will be branded Golfsmith and operated by Golfzon.

“With three million golfers already in South Korea our agreement with Golfzon further signals Golfsmith’s global strategy to build relationships that develop, manage and market Golfsmith and its brands," said Golfsmith chairman and CEO Martin Hanaka. "Golfzon ‘s keen understanding of the South Korean golf market and its solid customer base make them a strong partner in one of the biggest golf markets in the world.”

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FINANCE

Lowe’s to buy back $5B of stock

BY Staff Writer

Mooresville, N.C. — Lowe’s Cos. on Monday said it has been authorized to buy back up to $5 billion of its common stock over the next two-to-three years.

In a statement, the company said it expects to use the full amount over the next two to three years. The new repurchase authorization from the Lowe’s board has no expiration date.

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STORE SPACES

Virtual fitting room launches on Barbour website

BY Staff Writer

New York City — Fits.me Virtual Fitting Room, a bio-robotic virtual fitting room for e-commerce apparel websites, announces its launch with Barbour By Mail, the official U.K. online partner of lifestyle clothing brand Barbour. Barbour By Mail’s dedicated website is now offering its online shoppers the ultimate customer service — providing a fitting room to ease the challenge of purchasing clothes that fit.

By applying Fits.me’s virtual fitting room tool on its website, Barbour By Mail can virtually show shoppers how different sizes of its clothes will fit their body shapes and sizes, giving them the confidence that they are making a successful online purchase. At the same time, Fits.me will be helping Barbour By Mail to decrease its costs by reducing garment returns, thus increasing the brand’s value and strengthening business.

Barbour By Mail is the newest website to implement Fits.me. Several leading retailers in Britain and Germany have already noticed an increase in sales and a drop in return rates since utilizing Fits.me when it launched just last year. Fits.me also recently launched with its first U.S. retailer, and continues to expand into different markets.

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