FINANCE

Sears adds new features to credit-card program including credit score access

BY CSA STAFF

Hoffman Estates, Ill. Sears has become the first major retailer to offer its cardholders access to their credit score at no additional cost. Sears on Thursday said its cardholders can review their credit score at any time, understand the factors that affect their credit score and learn how to improve their score using the innovative “credit score simulator” tool.

In other add-on features to its credit-card program, the retailer will offer special deals, including extra discounts, deferred interest financing offers and valuable coupons in their its statements. Sears is also introducing a Sears Platinum MasterCard whereby cardholders can enroll in the complimentary Sears Choice Rewards program, which rewards customers with merchandise, travel, dining and more. Members earn one point for every $1 spent on all purchases and have the opportunity to enjoy exclusive bonus point events.

“The recent changes in the credit-card industry are making their way across all retail credit programs, which includes Sears and those of our competitors as well,” said Susan Ehrlich, president, Sears Financial Services, Sears Holdings. “It is now more vital than ever to offer customers innovative ways to pay that meet their financial needs. As a retailer, we also want to do everything we can to give cardholders more retail value.”

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Macy’s boosts ‘Believe’ campaign

BY CSA STAFF

NEW YORK Macy’s announced that it is expanded its “Believe” campaign this holiday season to support the Make-A-Wish Fundation.

This year, the retailer is launching a national Santa Tour, an honorary National Believe Day, a “Yes, Virginia” animated special, a new TV commercial featuring Queen Latifah, and an interactive Believe Web site at macys.com/believe. 

“Macy’s Believe effort really inspired people last holiday, and customers and communities across the country responded in a big way,” said Peter Sachse, Macy’s chief marketing officer. “Not only did we collect more than a million letters and hit our $1 million goal for the Make-A-Wish Foundation, but we saw wonderful and unexpected examples of schools and communities coordinating letter drives to help support this effort. To build on that excitement this year, Macy’s Believe campaign will layer on new elements including taking Macy’s Santa on tour, designating a special Believe Day to celebrate the holiday spirit, and premiering a new animated holiday special that tells the ‘Yes, Virginia’ story. This holiday, America will be inspired to Believe again.”

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Report: B&N says consolidation key to business health

BY CSA STAFF

During an investor presentation on Oct. 27, Barnes & Noble said that in order to survive its stores need to do well in addition to its online division.

According to Publishers Weekly, executives spoke of consolidation and how this would help the health of the business. The book retailer currently operates 700 superstores. Taking steps toward reducing the number of stores, B&N will close all of its Dalton outlets by the end of January.

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