FINANCE

Mattress Firm completes acquisition of Sleep Experts

BY Marianne Wilson

Houston — Mattress Firm Holding Corp. announced it has completed its acquisition of the outstanding partnership interests in Sleep Experts Partners.

With the acquisition, Mattress Firm expects to operate an additional 55 stores in the Dallas and Austin markets, two of Mattress Firm’s core markets.

Mattress Firm operates 1,400 stores across 33 states.

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MARKETING/SOCIAL MEDIA

Staples online competition yields big response

BY Marianne Wilson

Framingham, Mass. — Staples is letting the public help determine the top three winners of its “Make Your Idea Happen” contest, which allowed entrepreneurs to share their ideas for a chance to receive all the products they need to bring their business to life. The retailer received more than 16,000 entries online and via Facebook.

The contest was announced in early January, and entrants were asked to submit a 100 word or less overview of their idea. Staples narrowed the submissions down to 10 finalists.
Voting is open to the public from April 3 through April 16 on the Staples Make Your Idea Happen Contest website or Facebook tab. Consumers can cast one vote per day and all voters will be entered to win one of three $100 Staples gift cards. Voting is open until April 16 with the winner to be announced on April 22.

"The enormous response shows the creativity, innovation and spirit in the small business community," said Tim Williams, Staples director of social media. "We’re thrilled to share these great ideas and look forward to helping the winners make more happen."

The top three winners will receive consulting sessions with small business experts who will offer advice on how winners can "make more happen." In addition, a combination of Staples gifts cards and cash will be given to the top finalists at a value of $25,000 for the grand prize, $15,000 for the first prize and $10,000 for the second place prize. Each of the remaining finalists will receive a combination of Staples gift cards and cash in total valued at $5,000.

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OPERATIONS

Family Dollar in chain wide roll out of Checkpoint loss prevention technology

BY Marianne Wilson

Thorofare, N.J. — Family Dollar is rolling out electronic article surveillance (EAS) loss prevention technology from Checkpoint Systems across the retailer’s more than 8,000 stores nationwide. It is one of the fastest roll-outs in the industry, with 3,500 installations already completed and deployments in 120 more stores each week, according to Checkpoint.

“This rollout has already positively impacted our profitability." said Julie Giblin, Family Dollar’s VP of loss prevention. "We could not be more pleased with the results and the partnership with Checkpoint, especially with the implementation speed."

Both companies have also begun the planning process to implement source tagging and a hard tag source program. By working with Family Dollar’s consumer packaged goods and apparel suppliers, this new program will ensure merchandise arrives at Family Dollar stores EAS tagged and shelf-ready, enhancing its customer’s shopping experience. With both tagging programs, Family Dollar aims to further reduce shrink and increase team members’ productivity by focusing their time on customer-facing activities.

Per Levin, president and chief sales officer merchandise availability solutions, Checkpoint Systems, said: “Teams on both sides are enthusiastically executing one of the most ambitious EAS roll-outs in the world, and are now engaging the vendor community in source tagging to deliver even greater financial benefits to the program.”

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