Report: Standard General attempting RadioShack ‘rescue package’
Fort Worth Texas – Hedge fund Standard General LP, RadioShack’s second-largest shareholder, is reportedly trying to negotiate a “rescue package” by obtaining debt and equity financing from outside investors. According Bloomberg, Standard General is also meeting with RadioShack management to create a plan that will let the retailer avoid filing for Chapter 11 bankruptcy.
In July, Moody’s Investor Service predicted that RadioShack will run out cash around November 2015 unless it receives a cash infusion. Standard General is currently working with American Apparel to enable the retailer to pay off a $10 million loan and also move forward with its business regardless of whether founder Dov Charney, who has been accused of harassment, remains with the company.
RadioShack posted its ninth straight quarterly loss in June. The company has been revamping and updating its stores, from both design and product standpoints, and is burning through cash in its efforts to transform itself.
Simon Property teams up with online Refinery29 to target Millennials with pop-ups
Indianapolis – Simon Property Group is teaming up with style website Refinery29 to create “The Shopping Block” experience at six Simon shopping centers in September and October. Targeted at Millennials, the collaboration will consist of one-day pop-ups and related events.
"Refinery29 has always been rooted in shopping and discovery, and is a champion of independent thinking and true personal style," said Piera Gelardi, dreative director, Refinery29. "Refinery29’s audience of Millennial women turns to us as a trusted digital source of inspiration and they visit Simon shopping centers for a tangible, tactile experience. The Shopping Block is a perfect marriage of both worlds."
The Shopping Blocks will offer products from local designers and indie boutiques, as well as national brands. The format will also include beauty-bars, with make-up artists offering shoppers mini-makeovers and sharing beauty tips from the experts at Refinery29.
In addition, “stylist concierges” will discuss fall trends. Block attendees will receive curated style guides that highlight fall’s biggest trends, and where to shop them at Simon retailers. And attendees will have the opportunity to personalize tote bats at a DIY station. They can also participate in sweepstakes.
Each event will feature city insiders, chosen from local tastemakers in style, fashion and lifestyle industries, who will act as hosts. Shoppers can participate in a digital sweepstakes at the events for a chance to win retail prizes, valued at a minimum of $1,000, from Simon premier retailers.
"We are always looking for ways to build connections with consumers that provide exciting experiences of shopping and discovery," said Mikael Thygesen, chief marketing officer of Simon. "We know that fashion drives many of our shopper interactions. Simon and Refinery29’s collaboration elevates our incredible fashion assets and enables new levels of engagement by creating experiences that reflect the way Millennials shop and explore fashion across multiple channels."
The Shopping Block experience will be enhanced by editorial posts on Refinery29, including a "Found at the Mall" photo series showcasing the street style sensibility of shoppers who visit The Shopping Block. The events will be supported through co-branded banners on Refinery29 and promotions on Refinery29 and Simon social channels, Simon’s style blog at Stylesetter.simon.com and at Simon.com/shoppingblock.
Survey: Personalization key to digital loyalty
Cambridge, Mass. – More than three-quarters of digital marketers say loyalty program success depends on how well they do personalization. According to “Refresh Your Approach to 1:1 Marketing,” a new survey of digital marketers from Forrester Consulting on behalf of ExactTarget Marketing Cloud, about half (48%) of digital marketers say they face challenges in personalizing individual consumer interactions.
In addition, the survey shows that 42% of digital marketers are challenged by analyzing customer interaction data. Other notable results include 86% of digital marketers saying they use broad segmentation and simple clustering for personalized marketing. Looking ahead, nearly 60% of digital marketers plan to increase site optimization spending, while slightly more than half say they will increase spending in real-time interaction management.
Fifty-one percent of digital marketers say they plan to increase spending in predictive algorithms and 51% will spend more on guided selling.