Manhattan Associates acquires POS vendor GlobalBay
Atlanta – Supply chain commerce solutions provider Manhattan Associates Inc. has acquired the assets of POS and clienteling applications provider GlobalBay Technologies from VeriFone. The acquisition extends Manhattan’s omnichannel inventory and order management solutions by enabling in-store sales and clienteling capabilities.
VeriFone’s GlobalBay Merchant solution, targeted to small retailers, will be retained by VeriFone and rebranded in the coming months. Financial terms of the transaction will not be disclosed.
Ascena Retail Group opens DC and shared services complex
Etna, Ohio — Ascena Retail Group Inc. has opened its new 880,000-sq.-ft. shared services office complex and national distribution center in Pataskala, Ohio.
The 120,000 sq. ft. of office space will accommodate Ascena’s Shared Services Associates who serve all five of Ascena’s retail brands: Lane Bryant, Justice, Maurices, Dressbarn and Catherines in areas such as information technology, sourcing and centralized procurement. Additionally, the 760,000-sq.-ft. distribution center will serve all of Ascena’s retail brands, transitioning the final brand in early fall. The facility will be home to 850 associates.
In January 2013 Ascena announced its plan to build an office space adjoined to the existing Distribution Center to house its Ohio-based Shared Services Associates. The new building features an onsite Café, Fitness Center, Coffee Bar and collaborative work spaces.
GNC ups share repurchase authorization to $500 million
Pittsburgh — GNC Holdings, Inc.’s board of directors has authorized a multi-year program to repurchase up to an aggregate $500 million of the company’s Class A common stock. The authorization is effective immediately and replaces GNC’s previous authorization, which had approximately $250 million remaining.
The repurchases are expected to take place over the next 24 months.
"Today’s announcement reflects our confidence in the business and its ability to continue to deliver strong free cash flow," said Mike Hines, chairman of GNC. "We remain committed to our capital allocation strategy, which is designed to both support growth and to return capital to shareholders. Increasing our share repurchase program is a very important component of this.”