Sprouts Farmers Market commences public offering
Phoenix — Sprouts Farmers Market has commenced an underwritten public offering of 22.5 million shares of its common stock by affiliates of Apollo Global Management and certain other stockholders of the company. The underwriters of the offering will have the option to purchase up to an additional 3.375 million shares of common stock from the selling stockholders.
Apollo is offering approximately 11.8 million of the total shares (13.6 million if the underwriters’ option is exercised in full). The selling stockholders will receive all of the proceeds from the offering.
Survey: Holiday shoppers support decisions with smartphones
Chicago — Eighty-six percent of consumers plan to use their phones this holiday season, and it goes beyond looking up prices. Vibes, a mobile marketing technology vendor, revealed consumer research presenting the specific ways shoppers plan to use their mobile phones to check off their lists this holiday season.
Topping the list is looking up product information in order to trigger purchase decisions (53%) followed by finding specific store information such as location and hours (48%). Other key findings include:
- For 53% of consumers, the No. 1 way they plan to use their phones this holiday season is to look up product information in order to help make the right purchase
- For retailers to break through the noise this holiday season, consumers report the following resonate most to get them into a store:
- 44% want to receive compelling offers and discounts
- 17% are looking for the best selection of products
- 14% will look for the most convenient location
- 13% want personalized offers/discounts relevant to their behaviors (earlier research from Vibes found that 89% of consumers would sign up for mobile messages if they were personalized)
- 34% will use their phones as a mobile wallet to organize coupons and loyalty cards (earlier research from Vibes found that 44% of non-mobile wallet users claim a non-payment mobile wallet tool would enhance their shopping experience)
- When it comes to using their phones to shop, 32% of consumers plan to make purchases on mobile websites, demonstrating the importance for retailers to develop omnichannel strategies
Action Services Group in LED retrofit for Music & Arts
Aston, Penn. — Action Services Group has completed LED retrofits in five Music & Arts stores, with more to come (Music & Arts specializes in the rental and sale of band and orchestra instruments). The LED lighting retrofits, projected to reduce each store’s energy usage by 78% per year, included replacing the existing halogen 75-watt and 90-watt spot lamps covering the sales floor as well as the hanging-instrument walls with 16-watt LED spot lamps.
Prior to the retrofit, the store used halogen lamps to light the musical instruments displayed on the halls. But the heat from the lamps, which were lit for an average of 11 hours per day, was damaging the instruments. The use of the LED lamps will eliminate the problem.
In addition to the projected energy savings and reduction in instrument damage issues, the LED retrofits will virtually eliminate lighting maintenance costs in each store for nearly 10 years. Action Services” LED lighting retrofit included conducting a site survey, evaluating LED lighting alternatives, help in uncovering applicable local utility rebates, preparing a total ROI analysis and installation.
Including energy savings, maintenance savings and expected utility rebates, the LED lighting retrofits are projected to provide a total payback in slightly more than a year and a half.