News

Multidev develops new ChainDrive POS

BY Dan Berthiaume

Montreal, Quebec — Multidev Technologies, developers of the ChainDrive multichannel retail platform, have developed a brand new POS software by completely redesigning its interface and adding dynamic omni-channel features. The ChainDrive POS software offers a unified system that provides a single transparent version of transactions, CRM, fulfillment, inventory and all back end operations.

ChainDrive POS has a touch-screen interface, is flexible and has customer service enhancing capabilities, such as its ability to be used on a mobile device.

“Our decision to build and develop a brand new POS was driven by the shift in retail that is influenced by the demands of the consumer,” said Mark Carter, executive VP at Multidev Technologies.

“We can now offer retailers a system that truly supports the expectations of today’s consumer for personalized service, efficiency and an overall unified shopping experience.”

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News

Penney to focus on profitable brands

BY CSA STAFF

J.C. Penny will eliminate the jcp menswear brand and reduce the assortments in its Joe Fresh, Michael Graves and Martha Stewart lines, Reuters reported.

All four brands were introduced by former CEO Ron Johnson. Penney plans to use the resulting space to emphasize its exclusive private-label brands.

Starting in January, Penney will shrink its Joe Fresh in-store shops and reduce the assortment, the report said, moving the shops away from the front entry to give a more prominent spot to the chain’s own a.n.a and jcp women’s wear collections.

“What we now need is to edit things out that didn’t resonate sufficiently," CEO Mike Ullman told Reuters in an interview. "We don’t have six or seven years to get our business back. Half of our business has to be brands that we can produce profitably."

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FINANCE

Nordstrom closes senior notes offering

BY Dan Berthiaume

Seattle – Nordstrom has closed a previously announced offering of $400 million aggregate principal amount of 5.00% Senior Notes due 2044. The proceeds from the sale of the notes will be used for general corporate purposes, including repayment or retirement of outstanding indebtedness due in 2014, financing of capital expenditures and working capital needs.

The notes were offered in a private placement, solely to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933.

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