FINANCE

Report: Barnes & Noble chairman sells 2 million company shares

BY Dan Berthiaume

New York – Leonard Riggio, chairman of Barnes & Noble, has reportedly sold 2 million shares of company stock. According to Reuters, Riggio’s sale, reported in an SEC regulatory filing, lowers Riggio’s stake in Barnes & Noble to 26.3%.

After selling 2 million shares and donating 160,000 shares to a charitable foundation with his name, Riggio owns 15.75 million shares of Barnes & Noble stock. He remains the company’s biggest shareholder. The SEC filing indicates Riggio sold the shares on Dec. 10 at a price of $13.81 per share.

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FINANCE

NRF: Congressional budget deal a good step

BY Dan Berthiaume

Washington, D.C. – The National Retail Federation (NRF) is calling the short-term budget deal reached by Congress on Dec. 10 a step in the right direction for the economy and for retailers. In a prepared statement, Matthew Shay, president and CEO of the NRF, said legislators must move past partisan differences to resolve lingering fiscal issues.

“The National Retail Federation welcomes the announcement of the budget agreement forged by Representative Paul Ryan, R-WI and Senator Patty Murray, D-WA,” said Shay. “This is an early and much needed holiday present for consumers and the businesses that employ and serve them every day in communities across the country.

“One of the most critical components to creating more jobs, encouraging capital investment and rebuilding consumer confidence in this country is economic certainty. That certainty and confidence can only come from lawmakers working together in order to avoid legislative gridlock and political brinkmanship. For far too long, Washington’s entrenched partisanship has hampered economic growth and opportunity.

“NRF urges quick passage of this budget agreement and encourages our elected officials to resolve pressing fiscal issues, including the looming debt ceiling debate, with a shared commitment of moving beyond partisan rhetoric and finding mutual agreement on legislative policies that provide economic growth and opportunity for all Americans.”

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True Fit partners with Demandware for turnkey recommendations

BY Dan Berthiaume

Waltham, Mass. – Personalization software company True Fit has become a Demandware Link Technology Partner. Through the Link Technology Partner Program, True Fit has developed a pre-built integration between its fit technology platform and Demandware Commerce.

This integration enables turn-key implementation of True Fit’s personal fit ratings and size recommendations for Demandware clients that is designed to boost consumer confidence, increasing conversions and lowering returns. True Fit manages a database of apparel, footwear, and consumer fit data for retailers and a network of more than 1,000 brands. By analyzing this big data set, True Fit provides consumers with personal fit and size recommendation.

“We’ve successfully implemented True Fit with several Demandware clients who are seeing exciting results as consumers become more confident in their purchase choices,” said William Adler, CEO of True Fit. “This new partnership makes it even easier for other Demandware clients to effortlessly implement True Fit on their sites to start getting the benefits of leading fit personalization.”

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