Report: Alco receives higher takeover bid
Abilene, Kan. – Alco Stores reportedly has received a takeover bid from its largest shareholder, Everbright Development Overseas Ltd., which is larger than the bid it received on July 25 from Argonne Capital. According to Reuters, the Everbright offer of $14.30 per share in cash values Alco at $46.6 million.
In contrast, the previous bid from Argonne offered $14 cash per share, or about $45 million. That offer included a clause allowing Alco to take rival bids through Aug. 23.
Consumer confidence falls
New York — Consumer confidence unexpectedly dropped in August from a six-year high as Americans faced rising interest rates, according to the University of Michigan/Thomson Reuters preliminary index of consumer sentiment.
The index fell to 80.0 from 85.1 in July, which was the highest since July 2007. The median projection of 68 economists surveyed by Bloomberg called for little change at 85.2.
The outlook component fell to 72.9 in August from 76.5 in July, while current conditions dropped to 91.0 in August from 98.6 in July.
Dunkin’ Donuts launches Twitter sweepstakes for mobile app
Canton, Mass. – To mark the first anniversary of its mobile gifting/payment app, Dunkin’ Donuts is launching a sweepstakes on Twitter. The sweepstakes, called “DD Mobile Appiversary,” will give 365 consumers a $10 Dunkin’ Donuts mGift.
Beginning today and continuing through 5 p.m. on Aug. 18, followers of @DunkinDonuts on Twitter are asked to visit the Dunkin’ App and locate their favorite Dunkin’ Donuts restaurant in the app’s "Store Locator" function. Consumers who take a screenshot of this or a picture of their favorite Dunkin’ Donuts location and tweet it to @DunkinDonuts, using special hashtag #DunkinApp, are eligible to win a $10 mGift.
"Our guests rely on their mobile devices more than ever, and in just one year our Dunkin’ App has helped millions of busy, on-the-go people run on Dunkin’ faster and more conveniently,” said John Costello, president, global marketing and innovation at Dunkin’ Brands. As a brand that is distinguished for finding new and innovative way to offer the very best guest experience, we are excited to celebrate this particular anniversary with our fans.”
Dunkin’ Donuts has also announced plans to roll out a new DDPerks Rewards loyalty program, expected to be introduced later in the year, which will offer customers rewards for purchasing food and beverages.