FINANCE

Report: Jones Group exploring possible sale

BY Staff Writer

New York — Jones Group Inc. has tapped Citigroup Inc. to explore a possible sale, according to Reuters.

In April, Jones Group said that it would close 170 stores and cut 8% of its workforce after first-quarter profit was less than analysts’ estimates. The news comes just months after activist hedge fund

The company, whose brands include Stuart Weitzman, Jones New York, Easy Spirit, and Nine West, had a market value of about $1.2 billion as of July 5.

The news comes just months after activist hedge fund Barington Capital took a seat on the Jones Group board of directors amid a push to persuade the company to trim its more than 35 brands, Reuters said.

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O.Mori says:
Jul-09-2013 05:05 am

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O.Mori says:
Jul-09-2013 05:05 am

I was very encouraged to find this site. I wanted to thank you for this special read. I definitely savored every little bit of it and I have you bookmarked to check out new stuff you post. Menurunkan Berat Badan

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OPERATIONS

Shaw’s, Star Market eliminate loyalty card

BY Staff Writer

West Bridgewater, Mass. — Shaw’s and Star Market have ended their loyalty card program. The program offered shoppers sale prices on selected items.

In line with the decision to drop the loyalty card program, Shaw’s and Star Market announced they are lowering prices on thousands of items across all of its 169 locations.

“All of our customers deserve to get the lowest price on their groceries without needing to carry a Rewards Card with them,” said Shane Sampson, president, Shaw’s and Star Market. “Every customer who walks through our door deserves our best — from service to foods to pricing — and these lower prices are what our customers can expect from us every time they visit one of our stores.”

Shaw’s and Star Market’s decision to eliminate the program puts the company in line with such fast-growing grocers as Trader Joe’s and Aldi’s, which use low prices to drive sales.

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STORE SPACES

West Marine details sustainability progress

BY Staff Writer

Watsonville, Calif. — West Marine has released its BlueFuture(R) 2012 Sustainability Report. The study encompasses the retailer’s company-wide efforts focusing on sustainability, including improving and protecting the marine environments, reducing the company’s carbon footprint and encouraging people to enjoy being out on the water.

Included in the report is a reduction in the company’s greenhouse gas of 4.29% year over year, with an over 17.5% reduction since its 2007 baseline.

"There is no company in the U.S. that has a bigger impact on boating than West Marine," said Matt Hyde, CEO of West Marine, which operates some 300 stores. "It’s a privileged position, and with privilege comes great responsibility. Across the board, we’ve made significant progress towards our mission to ‘conserve marine resources, reduce our impact on the environment and promote boating,’ but there’s more work to do.”

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