Report: U.S. retail sales up 3.6% year over year
New York City — A report released Tuesday by the International Council of Shopping Centers and Goldman Sachs Group said that U.S. retail sales are up 3.6% on a year-over-year basis.
Same-store sales at a selection of U.S. retailers rose 0.4% from the week ended Jan. 1 from the prior week, the groups also said.
More Borders woes: Two execs resign
New York City — On the heels of Monday’s announcement that Borders Group is delaying payments to some of its vendors, the bookseller said Tuesday that two senior-level executives have departed.
Thomas Carney, general counsel, and D. Scott Laverty, chief information officer, both resigned from their posts Monday evening.
The news was disclosed in a Securities and Exchange Commission filing Monday. Borders told the Wall Street Journal that the departures were part of its previously disclosed efforts to improve liquidity.
Borders is looking to refinance its debt, a plan that may include asking publishers to convert some of their receivables to debt, plus the infusion of new capital, and new bank lenders. The chain is setting up meetings with leading publishers in New York this week to explain its refinancing strategy.
Sears, Kmart launch movie-download service
NOVATO, Calif. – Sears Holdings has launched a new online movie download service,Alphaline Entertainment (http://alphaline.roxionow.com), which enables Sears and Kmart customers to download entertainment online, including new movies on the same day they are released on DVD and Blu-ray disc. The service is being provided through Sonic Solutions RoxioNow platform.
“Collaborating with Sonic provides a great opportunity for Sears and Kmart to launch digital services for customers seeking even faster access to the latest in home entertainment experiences,” said Karen Austin, president consumer electronics for Sears and Kmart. “We’ll continue to increase the reach and flexibility of the Alphaline Entertainment service by providing consumers on-demand access to the latest entertainment from a range of home and mobile electronics.”