PriceSmart sales rise in January
San Diego – For the month of January 2014, net sales at PriceSmart increased 11.5% to $193.5 million from $173.5 million in January a year earlier. For the four weeks ended Jan. 26, 2014, same-store sales for the 30 warehouse clubs open at least 13 1/2 full months increased 8.4%, compared to the same four-week period last year.
There were 32 warehouse clubs in operation at the end of January 2014, compared to 30 warehouse clubs in operation in January 2013.
HBC sites provide online personalization with True Fit
Toronto — Hudson’s Bay and Lord & Taylor are offering True Fit’s fit personalization technology to consumers at TheBay.com and LordandTaylor.com. In less than 60 seconds, consumers can create a True Fit profile at either site, enabling them to get a personal fit rating and size recommendation for every style.
Furthermore, the True Fit profile travels with the consumer, providing a seamless fit personalization experience across both sites. To create a True Fit profile, consumers input one great fitting style they currently wear, and answer a couple questions about their body type, and then True Fit instantly returns a personal fit rating and size for every style. It’s free for consumers, and there’s no measuring. True Fit delivers recommendations by using machine learning algorithms to analyze massive amounts of data.
“We are thrilled to be the first Canadian retailer to provide True Fit technology for our customers,” said Christina Callas, senior VP, e-commerce & digital marketing, of Hudson’s Bay and Lord & Taylor parent company HBC. “This partnership will elevate our e-commerce platform for our customers by giving them more confidence in their purchases at Thebay.com and Lordandtaylor.com.”
Roundy’s makes public offering of 8.8 million shares
Milwaukee — Roundy’s, Inc. has set the pricing of an underwritten public offering of about 8.8 million shares of its common stock at a price to the public of $7 per share. The company is offering 2.9 million shares of its common stock, and certain selling stockholders are offering 5.9 million shares of Roundy’s common stock.
The underwriters have been granted a 30-day option to purchase up to an additional 1.3 million shares of common stock from the selling stockholders, all at the offering price less the underwriting discount. The offering is expected to close on Feb. 12, 2014.
Roundy’s intends to use the net proceeds for general corporate purposes, which it expects to include funding working capital and operating expenses, as well as capital expenditures to build out the Chicago stores acquired from Safeway. The company will not receive any of the proceeds from the sale of shares by the selling stockholders, including the shares to be sold by the selling stockholders if the underwriters exercise their over-allotment option.
Credit Suisse and J.P. Morgan, along with BofA Merrill Lynch and BMO Capital Markets, are acting as joint bookrunning managers for the offering. Baird is acting as lead manager.