Jos. A. Bank issues tender offer for $300 million in stock
Hampstead, Md. – JoS. A. Bank Clothiers, Inc. has commenced a tender offer to purchase up to $300 million in value of shares of its common stock at a price of $65 per share. The closing price of the company’s common stock on Feb. 18, 2014 was $54.20 per share.
The tender offer will expire on Tuesday, March 18, 2014, unless extended by the company. Tenders of shares must be made on or prior to the expiration of the tender offer and may be withdrawn at any time on or prior to the expiration of the tender offer. The tender offer is subject to a number of terms and conditions described in the offer to purchase that is being distributed to stockholders, including the consummation of the previously announced acquisition of Everest Holdings LLC ("Everest"), the parent company of Eddie Bauer.
Jos. A. Bank expects to fund the tender offer with cash on hand. None of the company’s directors or executive officers or Everest Topco LLC, the owner of Everest and a portfolio company of Golden Gate Capital, will participate in the tender offer.
Jamba Juice launches omni-channel loyalty program
Emeryville. Calif. – Jamba Juice Company has unveiled its new Jamba Insider Rewards customer loyalty program in stores nationwide. Now, typing a phone number entry on a touch-screen allows Jamba Juice customers to earn rewards, personalized offers, and free products without the need to carry a rewards card at every point of sale.
Rewards include discounts for activating an account and making purchases, as well as personalized offers via email or text such as percentage off coupons, free food item with a smoothie or juice purchase, and $2 off freshly squeezed juices coupons
Powered by Spendgo, the Jamba Insider Rewards loyalty program tracks customers’ reward points through the entry of a 10-digit telephone number on a touch-screen pad at the point of purchase and sends real-time alerts of available rewards and surprise offers such as a free boost with smoothie purchase. The program enables custom rewards based on an individual’s previous purchase behavior, making the program not only convenient, but also tailored to their buying habits and favored menu items. The program was piloted in select stores last year and witnessed double-digit percentage participation rates well above industry averages.
"Using the latest in innovative web, mobile, and touch-screen technology, Jamba Juice is endlessly committed to amplifying the consumer store experience," said Julie S. Washington, senior VP and chief brand officer, Jamba Juice Company. "Here at Jamba Juice, we’re both delighted and proud to launch Jamba Insider Rewards™, a program that goes beyond most current corporate loyalty offerings today by providing consumers an open, cloud-powered rewards approach in a way that is modern, intuitive, personalized and void of your typical plastic card hassles at checkout."
Study: Amazon top Canadian digital retailer
Vancouver, Canada – Amazon.com is the top digital Canadian retailer and U.S., retailers are generally outpacing their Canadian competitors in using digital channels such as online, mobile and social. According to the new “Chasm Retail 2.0” study from Chasm Digital, the top 10 digital retailers operating in Canada are:
2. Best Buy
3. Home Depot
8. London Drugs
10. Canadian Tire
Other findings include that Canadian grocery and pharmacy retailers are the furthest behind in use of digital technology, the Web remains the top digital channel for Canadian retailers, only 38% of Canadian digital retailers offer in-store inventory through digital channels, and top Canadian digital retailers have optimized their offerings across multiple mobile platforms. (52.3% of retailers assessed are equipped with a mobile-friendly site and at least one mobile application).
"Although we were encouraged to see a few companies excel in a few areas, we generally found that most retailers seemed oblivious to how digital technologies are reshaping society, commerce and entire industries,” said Ashish Anand, partner, Chasm Digital.