Report: Lord & Taylor Considers Stores Outside U.S.
New York City Lord & Taylor is thinking about opening stores outside the country, possibly in Mexico and Canada, according an article in the New York Times.
Chairman Richard A. Baker, the head of NRDC Equity Partners, the private equity firm that owns Lord & Taylor, said he expects the chain to thrive in foreign countries given its focus on American designers such as Joseph Abboud and Charles Nolan.
“We are thinking about growth outside the U.S.,” Baker said on Tuesday at a conference held by Emanuel Weintraub Associates, a retail-consulting firm. Besides Canada and Mexico, he identified Asia as the most likely markets.
While no foreign store openings are imminent, Baker has recently been traveling to Mexico and Canada, the report said. It also noted that a foreign venture would be the latest chapter in Lord & Taylor’s turnaround over the last decade.
Bridgelux names new executives
SUNNYVALE, Calif. Bridgelux has announced the appointments of Keith Scott as vp of business development, and David Barnby as vp of sales and general manager for EMEA.
Scott joins Bridgelux from Philips Lumileds where he grew a multi-million-dollar, solid-state lighting business while serving in various marketing and product development roles during his six-year tenure.
Barnby was the EMEA vice president of sales and marketing for Pinnacle Systems (the consumer division of Avid Technology) where he was responsible for managing the consumer IT retail and distribution channels across Europe, Central/Eastern Europe, the Middle East and Africa.
Wal-Mart to cash stimulus checks for free
BENTONVILLE, Ark. With Wal-Mart’s motto of ‘Save Money. Live Better,” it’s no surprise that the retailer has announced new incentives to get shoppers to spend their stimulus checks at its stores. The company announced that it will cash the rebates for free – with no purchase required – and will offer shoppers new rollbacks on items such as shampoo, breakfast juice and cereal.
As an added incentive to get shoppers to spend their checks at Wal-Mart stores, the company said it will refund the purchase fee on its Wal-Mart MoneyCard when any portion of the economic stimulus check is loaded onto the card.
Additionally, Sam’s Club will cash checks for free for its members. It will also offer its own economic stimulus bonus in the form of a $40 gift of membership on select product purchases May 11 through May 31 so new members will save all year long.
“We’re looking at this through the eyes of our customers, who need low prices all the time,” said John Fleming, evp and chief merchandising officer of Wal-Mart Stores, U.S. “And that’s what we’ve always done best,” he added.