FINANCE

J.C. Penney’s problems mount

BY Marianne Wilson

New York — J.C. Penney Co. last Tuesday dominated the retail news as its shares dropped 10.6% to a four-year low after reports that one of its largest shareholders had sold a chunk of the troubled company’s stock. And in a late afternoon report, The Wall Street Journal said that a group of Penney directors is ready to get rid of CEO Ron Johnson, or push to sell the chain unless he can stop the company’s heavy bleeding this year.

Vornado Realty Trust sold 10 million shares of Penney stock, half of its stake, at $16.40 per share through Deutsche Bank AG, according to a Bloomberg report. Vornado chairman Steven Roth sits on the Penney board.

Penney was also in the news in regard to its ongoing battle with Macy’s. Martha Stewart testified in New York State Supreme Court on Tuesday that she did nothing wrong is entering into a deal to open up home in-store in Penney stores.

During her testimony, Stewart denied Macy’s allegations that she acted unethically in entering into the agreement with Penney. She said that she was only looking to expand and offer new opportunities for shoppers.

Macy’s claims that Martha Stewart Living Omnimedia breached a contract with Macy’s when it entered into the deal with Penney.

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News

GSI Commerce supports PetSmart’s omnichannel strategy

BY Staff Writer

King Of Prussia, Pa. — GSI Commerce, an eBay Inc. company, said it has extended its contract with PetSmart to support the retailer’s omnichannel strategy with webstore, fulfillment and customer service solutions. GSI has worked with PetSmart since 2007, and this contract will extend the relationship for three years.

“Technology is rapidly changing the way the consumer researches and shops, especially when it comes to caring for their pets,” said David Lenhardt, president and COO, PetSmart. “Through our strategic partnership with GSI Commerce, we are building the capabilities to allow our customers to shop anywhere, any way and any time they choose.”

GSI Commerce also supports PetSmart’s online fulfillment through its distribution center in Kentucky and customer service by U.S.-based call centers. GSI customer service representatives dedicated to the account are trained by PetSmart and work closely with PetSmart’s Phoenix-based customer care team.

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itoffer says:
Mar-20-2013 07:23 am

A glance at the requirements:
A glance at the requirements: this proctored, Microsoft 70-640, exam is within Technology Specialist (MCTS) certification and counts as credit toward Microsoft Certified IT Professional MCITP certification. 70-460

itoffer says:
Mar-20-2013 07:23 am

A glance at the requirements: this proctored, Microsoft 70-640, exam is within Technology Specialist (MCTS) certification and counts as credit toward Microsoft Certified IT Professional MCITP certification. 70-460

buangsila001 says:
Mar-12-2013 11:40 am

Founded in 1986, Petsmart is
Founded in 1986, Petsmart is a leading retail store operating in united State of America and Canada engaged in the sale of pet supplies. - Scott Sohr

L.Jandayan says:
Mar-05-2013 10:13 pm

Ebay before was one of the
Ebay before was one of the best and trusted resources when you go on purchasing online. Ebay is good but now there are a lot of them fro you to choose to from. - Steven Wyer

L.Jandayan says:
Mar-05-2013 10:13 pm

Ebay before was one of the best and trusted resources when you go on purchasing online. Ebay is good but now there are a lot of them fro you to choose to from. - Steven Wyer

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REAL ESTATE

City Sports to open largest store to date, in NYC’s Financial District

BY Marianne Wilson

Boston — City Sports today announced plans for two new stores, including its largest store to date, in New York City’s financial district. Slated to open at the end of March, the bi-level, 10,500-sq.-ft. space will feature an open floor plan and many other details that nod to the building’s origins as a bank. The store will be City Sports’ third location in NYC.

In addition, the chain announced a new location for its Chestnut Hill, Mass., store, set for a March 16 opening to coincide with the brand’s 30th anniversary.

"We couldn’t think of a better way to kick off City Sports’ 30th birthday than with the housewarming of our new home in Chestnut Hill," said City Sports president and CEO Edward Albertian.

At over 9,200 sq. ft., the new Chestnut Hill space will feature new and expanded departments for women’s apparel, footwear, youth and team sports. The chain’s footwear department also gets an upgrade with an in-store track and treadmill to test out more than 300 styles.

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