News

Zale selects Citibank to run private label credit-card program

BY CSA STAFF

Dallas Zale Corp. announced that it has selected Citibank (South Dakota), N.A.) to provide the private label credit-card program for the retailer’s Zales Outlet and Gordon’s brands in the United States, effective Oct. 1.

The agreement is for a term of five years with automatic renewals for successive two-year terms and replaces the company’s agreement with Citi, which was scheduled to expire in March 2011. In connection with the agreement, payment of the merchant fee differential, due Sept. 22, will no longer be required.

Under the new agreement, the yearly minimum volume of net credit-card sales has been reduced from $600 million to $315 million. Additionally, Citi will provide financial support of Zale’s marketing activities during the initial five-year term of the contract.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
News

Best Buy, Toshiba introduce kid-friendly laptop

BY CSA STAFF

IRVINE, Calif. – Best Buy has partnered with Toshiba to launch the first kid-friendly laptop, available exclusively at Best Buy, Toshiba announced. The Satellite L635 Kids’ PC is a full-size laptop made for children aged five to 10 that provides a suite of entertainment and education software and allows parents to help ensure their children are staying safe on the Web.

The Satellite L635 Kids’ PC features a 13.3-inch diagonal HD display1, a built-in DVD drive and Webcam with software designed specially with a younger user in mind.

“The laptop has traditionally been a device conceived and built for adults, and devices currently being marketed to kids are either netbooks or toy-based computers,” said Jeff Barney, VP and general manager Toshiba America Information Systems, digital products division. “As a result of this collaboration with Best Buy, we have made a product that provides the right measure of fun and entertainment for children while meeting the computing needs and security concerns of their parents.”

The Satellite L635 Kids’ PC is available exclusively at Best Buy beginning Sept. 26.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
News

Survey finds disconnect between consumer, retailer view of private brands

BY CSA STAFF

NEW YORK – According to Deloitte’s "The Battle for Brands in a World of Private Labels" study, when asked how market share of store brands will change in the United States by 2012, 77% of CPG executives and 90% of retail executives surveyed indicated it will increase or increase significantly.

Fewer than two out of 10 executives surveyed believe consumers view store brands as likely to be manufactured by the traditional national brands, while eight out of 10 consumers surveyed during Deloitte’s "2010 American Pantry Study" believe that most store brands are manufactured by the traditional national brands, Deloitte reported. In addition to the disconnect around manufacturing of store brands, 85% of consumers also indicated that they have found several store brands that are just as good as national brands and as a result have little reason to switch back.

"Though conventional wisdom has co-branding between retailers and CPG companies as a win-lose proposition, the results of our study indicate that nearly half of retail and CPG executives agree that working together may be the best way to win the wallets of the ‘new consumer,’" said Pat Conroy, vice chairman and Deloitte’s U.S. consumer products practice leader. "What they need to consider are variations on current brands and what new innovations should be brought to market so as not to overwhelm an already substantial marketplace."

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...