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J.C. Penney denies credit squeeze

BY Marianne Wilson

New York — J.C. Penney on Thursday said that reports claiming CIT Group Inc., the largest lender in the apparel industry, had stopped funding some shipments to Penney were untrue. The retailer said it has plenty of cash on hand and all major suppliers were still shipping.

“J.C. Penney continues to have the support of all of its key vendors, who have maintained their shipments to the company," the company said in a statement on Thursday.

Penney also said Thursday it expects to have $1.5 billion in cash on hand for the quarter just ending. The chain will report its results later this month.

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SAP completes acquisition of Hybris

BY Marianne Wilson

Walldorf, Germany — SAP AG and Hybris announced that SAP has completed the acquisition of Hybris, a leader in commerce technology. The two companies said they plan to combine the omni-channel commerce solutions of Hybris with robust enterprise technology and in-memory, cloud and mobile innovations from SAP to help facilitate new levels of customer insight and engagement.

“SAP and Hybris will deliver the next-generation customer experience for businesses and consumers in a world where digital and physical converge seamlessly,” said Bill McDermott and Jim Hagemann Snabe, co-CEOs, SAP AG. “With the addition of the Hybris commerce platform, we intend to help enterprises achieve unprecedented intimacy with customers in real time and across all devices, delivery channels and touchpoints.”

Hybris will operate as an independent business unit under its existing leadership and will continue its commerce technology leadership for both SAP and non-SAP customers and will be known as “Hybris, an SAP company.”

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AAFES launches upgraded website

BY Staff Writer

Dallas — The Army & Air Force Exchange Service announced a refresh of the organization’s official website, Shopmyexchange.com, in preparation for the key holiday selling season.

Improvements include a new homepage layout design, complete with an updated visual look and industry-standard navigation; more product categories; easy-to-find links to specialty stores and online mall vendors; improved product pages; and easier checkout.

Easy-to-find buttons for key features such as sales, customer service, online account management and Military StarTM Card service are also now conveniently placed at the top of the page, and the product search bar is now more prominent within the site’s layout. In addition, the shopping cart feature is now consistently positioned on the right side of all product pages.

Other new features include social media buttons that connect users with a direct source for exclusive discounts, new product announcements and local store events via Facebook, twitter, Pinterest and YouTube.

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