Macy’s to Resume Monthly-Sales Reporting
Columbus, Ohio Macy’s Inc. plans to temporarily resume the posting of its monthly-sales data, a move that will keep shareholders abreast of company’s performance as it operates in the volatile economic landscape, effective Nov. 6, the company announced on Friday.
The company will begin reporting same-store sales starting this month, and will continue the practice until further notice.
“We want to provide investors as much information as possible,” said Terry Lundgren, Macy’s CEO, in a statement.
“While we continue to believe that sales on a monthly basis are an incomplete and sometimes misleading measure of a retailer’s performance, we will again provide this information so investors have a sense of the direction of our business on a more frequent basis through this uncertain time,” Lundgren added.
GameStop engages mobile coupon service
SAN JOSE, Calif. GameStop has engaged Cellfire’s mobile coupon service to distribute mobile coupons redeemable at more than 4,200 GameStop retail locations in the United States and Puerto Rico. Now, instead of clipping paper coupons or printing them from the Internet, gamers can simply show the coupon displayed on their cell phone at the register to receive a discount.
“As the mobile Web emerges as a viable marketing channel, reaching our customers through their cell phones is a natural progression,” said John Brittell, vp of e-commerce and direct marketing of GameStop. “Cellfire is widely considered to be a pioneer in the mobile coupon space, and we are looking forward to working with them to enhance our promotional marketing strategy.”
Consumers access the Cellfire mobile coupon service through an easy-to-use mobile application that resides on their cell phone or through a mobile Web browser. New offers are added frequently, and users can access the Cellfire service at their convenience to discover and use discounts specific to their geographic area. Coupons are displayed in an organized manner, allowing consumers to navigate through coupons by category and select the offers they want to use.
JCPenney to limit severance pay for executives
PLANO, Texas JCPenney announced in a filing with U.S. Securities and Exchange Commission that it would limit severance pay for its senior executives.
According to the filing, severance packages would be limited to 2.99 times the annual base salary and target bonus in effect the year of termination. Stockholders may approve greater severance packages. The policy does not apply to existing agreements.