FINANCE

Tabots extends talks with Sycamore again

BY Marianne Wilson

Hingham, Mass. — Talbots Inc. said is extending its talks with Sycamore Partners about an acquisition offer. It is the second time the chain has extended the talks.

Talbots has extended the period of time during which it will talk solely with the private equity firm about its $211 million takeover offer until Thursday.

The first time Talbots extended the exclusivity period was a week ago, when it announced that the talks would continue until Wednesday.

Earlier this month Sycamore offered to buy Talbots for $3.05 per share.

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FINANCE

Big Lots Q1 profit misses

BY Staff Writer

Columbus, Ohio — Big Lots Inc. posted a lower-than-expected adjusted profit for the first quarter and cuts its full-year earnings outlook.

Big Lots’ first-quarter earnings fell 22% to $40.7 million, from $52.5 million a year ago. Sales increased 5.4% to $1.29 billion. Same-store sales edged down 0.8%.

Net profit margin declined to 3.1% from 4.3% a year ago.

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Target goes with shopkick’s mobile, location-based rewards app

BY Marianne Wilson

Minneapolis — Target announced it will now offer shoppers the shopkick app via their smartphones. The service will allow shoppers to earn points for shopping at Target that can be redeemed for a variety of rewards.

“In our test launch, Target guests in seven cities had the opportunity to experience shopkick at Target and we received rave reviews. Now guests nationwide can start earning valuable points just by shopping our stores,” said Bonnie Gross, Target VP marketing and guest engagement.

Shopkick is free and available on iPhone and Android devices. When customers walk into a Target store, shopkick rewards them with points called “kicks.” Then, as guests shop the store, they have the opportunity to scan products ranging from everyday items like food and cleaning supplies, to specialty products like electronics and toys, for additional kicks.

Kicks can be redeemed for Target gift cards, Facebook credits, dining gift certificates, iTunes downloads, donations to charities, and more. Shoppers can also receive special in-store deals including coupons and discounts.

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Nov-15-2012 04:51 pm

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H.Hashimamlar says:
Nov-15-2012 04:51 pm

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