FINANCE

Macy’s to Stay Open All Night

BY CSA STAFF

Chicago Macy’s Inc. plans to keep its store at the Woodfield Mall in Schaumburg, Ill., open 24-hours-a day from Saturday morning through Christmas Eve. The move is part of an effort to boost sales amid a struggling economy.

The company began testing 24/7 holiday shopping in 2006 when it kept a Macy’s at Queens Center in New York open for 24 hours. Last year Macy’s rolled out the concept to a handful of locations.

This year a total of 13 Macy’s stores will be pulling all-nighters, including stores in Connecticut, Michigan, New Jersey, New York and Virginia.

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Staples revamps in-store marketing

BY CSA STAFF

Staples has signed a multi-year deal with News America Marketing to improve in-store marketing, according to the reports.

News America will create coupon machines, floor ads and other in-store marketing products in more than 1,500 Staples stores nationwide. The changes will go in effect next month.  

 

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RadioShack becomes sole owner of Mexico unit

BY CSA STAFF

FORT WORTH, Texas RadioShack announced that it has become the sole owner of Radio Shack de Mexico, S.A. de C.V. after purchasing the interest in the joint venture held by Grupo Gigante, S.A.B. de C.V. for approximately $43 million in cash. Radio Shack de Mexico has approximately 200 RadioShack branded stores throughout Mexico.

Commenting on the acquisition, chairman and ceo Julian Day said, “Radio Shack de Mexico represents an attractive growth platform for our company. This is a business we know well through our experience with the joint venture and the RadioShack brand has strong equity among consumers in Mexico.”

RadioShack will operate the stores and related general office, service center and distribution center in Mexico as a wholly-owned subsidiary. All of the stores and support facilities are leased locations. The stores average approximately 1,300 square feet and are primarily located in shopping centers. Radio Shack de Mexico employs approximately 1,200 people.

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