FINANCE

Report: Dish Network to assume 500+ Blockbuster leases

BY CSA STAFF

New York City — A report Monday by the Wall Street Journal said that Dish Network Corp. will assume leases on more than 500 Blockbuster stores after it completes its acquisition of the video-rental chain.

The lease takeovers will assure that Blockbuster will maintain some physical presence.

In a filing with the U.S. Bankruptcy Court in Manhattan, Blockbuster also listed hundreds of locations where it plans to reject leases, as its number of open stores continues to dwindle.

While there is no concrete information being released yet about how many Blockbuster stores will remain open, the court papers suggest that the latest round of closings will bring the number to around 1,000 open. As of early April, Blockbuster had either closed or initiated closings on nearly half of its stores and now has just over 1,700 locations.

Dish won a bankruptcy court auction this month for Blockbuster with a final bid of $320.6 million. The satellite-TV company hopes to close the deal by April 25, although the purchase agreement gives the company until May 5.

Dish has said it plans to keep some Blockbuster stores open.

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FINANCE

Study: 50% of Americans use mobile device to assist with shopping

BY CSA STAFF

Chicago — Fifty percent of Americans use a mobile device to navigate their shopping journey, according to a new study released by Arc Worldwide, Leo Burnett’s marketing services arm.

The study — “Marketing to the Mobile Shopper” — found that mobile shopping has become a way of life for Americans. This trend is changing the traditional shopping journey and leaving companies with a serious ultimatum: deliver valuable mobile experiences or risk losing customers.

“Mobile shopping has created multiple paths to purchase,” said William Rosen, president and chief creative officer of Arc Worldwide. “It has completely transformed the way people research and purchase products. Companies looking to crack the ‘mobile code’ must understand shoppers’ unique demands by category and shopper type, which we have carefully explored in this study.”

Click here to view the study.

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FINANCE

New York Metro McDonald’s launches hiring push on April 19

BY CSA STAFF

Roseland, N.J. — McDonald’s New York Tri-State Area and its franchisees said Tuesday they are looking to hire new crew and restaurant management positions in more than 600 restaurant locations throughout the area on April 19.

The one-day event is part of a nationwide initiative for McDonald’s and its franchisees with a target to hire up to 50,000 new employees at restaurants across the country.

"Our business is strong and our customers are responding positively to the variety of choices on our menu and the value and convenience we provide," said Mason Smoot, VP and general manager, McDonald’s New York Tri-State.

There are more than 600 McDonald’s restaurants, owned by over 100 franchisees, located throughout the New York, New Jersey and Connecticut Tri-State.

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