Verifone Systems acquires Lift Retail Marketing
San Jose, Calif. — VeriFone Systems has acquired Lift Retail Marketing Technology Inc., Atlanta. Financial terms of the deal were not disclosed.
Lift Retail developed and markets the Lift Station, a network-connected digital marketing hub that integrates with point-of-sale systems (POS) in the convenience store and petroleum retailing market.
Lift Retail will be incorporated into VeriFone’s solutions portfolio as a product and services offering called LiftRetail Solutions, which will integrate with all leading retail POS systems in the convenience store/petroleum segment.
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Ascena Retail Group Q2 profit up 50%; opening 125 stores in fiscal 2012
Suffern, N.Y. — Ascenta Retail Group Inc., whose brands include Dressbarn, Maurices, and Justice, said its fiscal second-quarter profit rose 50% on higher sales. The company raised its earnings forecast for the current fiscal year.
Ascena said that during the quarter ended Jan. 28 it earned $63.7 million, compared with $42.5 million in the same period a year before.
Revenue during the quarter rose 15% to $862 million. E-commerce sales jumped 61% to $52 million in the quarter.
As the spring shopping season starts, Ascena Retail Group said it plans to open about 85 stores and close around 20 other locations. For the full 2012 fiscal year, it plans to open 145 stores and close 55, and will close the year with about some 2,600 locations.
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Foot Locker Q4 profit jumps 42% amid cost cutting and higher sales
New York City — Foot Locker Inc. said that its fourth-quarter profit increased 42% amid higher sales and cost cuts.
The company earned a better-than-expected $81 million in the three months that ended Jan. 28, up from $57 million in the year-ago period.
Revenue increased 8% to $1.5 billion, from $1.39 billion. Same-store sales were up 7.5% in quarter.
During fiscal 2011, Foot Locker opened 70 new stores, relocated or remodeled 182, and closed 127. The chain had 3,369 total stores as of Jan. 28, down from 3,426 at the end of the previous fiscal year.
For the full year, Foot Locker’s profit rose 65% to $278 million. Total revenue grew 11% to $5.62 billion from $5.05 billion.
Now this is some positive news coming out for Foot Locker. With all of the negative news over the so called riots over the Nike shoes this is really great to hear. Thank you for sharing.
When we hear about stores like Foot Locker doing well in the fourth quarter of 2011 when you had enough it gives us some hope that the economy is on it's way back.