News

McDonald’s testing payment app

BY Staff Writer

New York — McDonald’s is testing a mobile order and payment application in Austin, Texas, and Salt Lake City, Bloomberg News reported.

“We’re always looking at new technologies to make the McDonald’s experience better for our customers,” Lisa McComb, a McDonald’s spokeswoman, said in the report. “We are testing some of these technologies in a few markets, so it’s premature to speculate on the decisions we may make after the tests, but we’re excited to bring a cutting-edge experience in the future to our customers.”

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REAL ESTATE

Papyrus parent company opens second Niquead.D location

BY Marianne Wilson

New York — Schurman Retail Group, owners of Papyrus North America, announced the opening of the first Niquead.D flagship in New York City. It is the brand’s second location to date, with the first opening in December 2012 in Danville, Calif. A second Manhattan location is scheduled to open later this fall, and will be the first to share an entryway with a full-sized Papyrus store.

The new, 900-sq.-ft. store features women’s jewelry and accessories, clothing, scents, home décor, and a wide range of paper and gift products. With a mixture of antique furniture, eye-catching, one-of-a-kind chandeliers, and hand-painted rich blue damask walls, this store captures the textural, stylish, and indulgent design that is reminiscent of stepping into a Parisian boutique

“We believe that the new Niquead.D Flagship boutique will be a welcome addition to the retail landscape in New York City,” stated Dominique Schurman, CEO for Schurman Retail Group. “This store offers a truly magical shopping experience that will indulge the senses of each client, and is a space where they can wander, discover and, be inspired by everything there.”

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FINANCE

La-Z-Boy Inc. buying three Nevada locations from independent dealer

BY Marianne Wilson

Monroe, Mich. — La-Z-Boy Inc. announced it intends to acquire three La-Z-Boy Furniture Galleries stores located in the Las Vegas market, with combined revenue of approximately $11 million. Included in the transaction are two stores in Las Vegas, and one in Henderson.

The transaction is a result of the planned retirement of the independent dealer, Steve Hueftle, who opened his first La-Z-Boy Furniture Galleries store in 1988, and the mutually agreed-upon decision that transitioning the stores to a subsidiary of La-Z-Boy would be in the best interest of his employees while providing for the greatest stability and continuity of the long-standing business in the Las Vegas market.

The three stores will become part of La-Z-Boy’s retail operation and will bring the total company-owned store count within the retail segment to 96. The deal is expected to close on September 30, 2013, subject to customary closing conditions. Terms of the transaction are not being disclosed.

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