LVMH acquires Bulgari for $5.2 billion
Paris — A report released Monday by Reuters said that French luxury group LVMH will acquire Italian luxury jeweler Bulgari for $5.2 billion.
The offer, according to the report, is a 60% premium to Bulgari’s average share price, and indicates that the bounce-back of the luxury market could occur at a faster rate than Wall Street anticipated.
Rival bidders included the Richemont group and PPR, according to Reuters.
Cabela’s implements Reflexis Task Manager and StoreWalk
Dedham, Mass. — Workforce management solution-provider Reflexis Systems said Monday that Sidney, Neb.-based Cabela’s has implemented Reflexis Task Manager and StoreWalk to increase efficiency and improve the store-level execution of its retail strategy.
The Reflexis cloud computing solutions, according to the company, enable retailers to streamline corporate-to-store communication, ensure consistent execution of in-store merchandising and promotional plans, and improve compliance with safety and operational policies.
“Store managers and employees now view a list of prioritized tasks in one system, instead of planning, replying, and following up via e-mail, voice mail, and other communication,” said Marlon Giese, Cabela’s retail communication manager. “The task management system also enables us to monitor job completion and compliance levels in our stores, which was not really possible by e-mail alone.”
With support from Reflexis, Cabela’s tailored the solution to fit its business needs, including using only minimal internal information technology resources. Giese called the solutions intuitive, low-maintenance and user-friendly, which made it possible for the company to implement them during the busiest time of the year.
Report: Employment Trends Index increases 8% year-over-year
New York City — The Conference Board’s Employment Trends Index, released Monday, increased in February for the fifth consecutive month.
According to the Conference Board, the index now stands at 101.7, up from January’s revised figure of 100.1. The index is up over 8% from a year ago.
“In the past half year, the economy has been adding, on average, about 110,000 jobs per month,” said Gad Levanon, associate director, macroeconomic research at The Conference Board. “The strong growth in the Employment Trends Index suggests that the pickup in jobs may accelerate in the next couple of quarters. However, with a shrinking government, a stagnant construction sector, and a manufacturing recovery that has only a small impact on overall employment, overall job growth will still be modest.”