Retail News You Can Use
Best Buy Canada Launches Rewards Program With Chase Canada
Burnaby, British Columbia Best Buy Canada has partnered with Chase Card Services Canada, a division of JPMorgan Chase & Co., for the launch of a new credit-card-rewards program.
The Best Buy Reward Zone Visa card from Chase awards customers with two points for nearly every $1 spent on purchases made at any Canadian Best Buy store, or on www.BestBuy.ca, and one point for nearly every $1 spent at over 29 million locations where Visa is accepted.
Staples Begins Layoffs at Corporate Express
Framingham, Mass Staples Inc. has started to lay off employees at its Corporate Express unit as it combines the two companies' operations, according to the Rocky Mountain News. A company spokesman didn't specify how many people would be affected or which locations would be involved.
Staples made a $2.7 billion deal in May to acquire Corporate Express in May.
CarMax Reduces Staff
Richmond, Va CarMax, Inc. announced that it is reducing its service-operations work force by more than 600 associates.
The reductions are being made in a majority of the company's production superstores, where vehicles are reconditioned.
Saks Direct to Expand E-Commerce Sales to Canada
New York City Saks Direct, Inc., the e-commerce division of Saks Inc., has signed an agreement with E4X, Inc. to utilize its FiftyOne global e-commerce solution to allow Canadian consumers to shop and buy online at saks.com
Currently, orders submitted online at saks.com can only be shipped within the United States.
J.C. Penney, Retailers Team with U.S. Department of Energy
Plano, Texas J.C. Penney has joined The U.S. Department of Energy's (DOE) National Energy Technology Laboratory as a part of an effort to encourage adoption of energy-saving technologies for new and existing commercial buildings.
J.C. Penney is among 21 companies, including retailers such as Macy's, Best Buy and Whole Foods, selected to receive awards totaling $15 million as part of the Net-Zero Energy Commercial Building Initiative.
KB Cuts Prices On 200 Toys
Pittsfield, Mass KB Toys became the latest toy retailer to cut prices ahead of a likely slow holiday season. The retailer said more than 200 toy prices have been cut to $10 or less, including Crayola craft kits, NFL and MLB action figures and some Fisher-Price preschool toys.
The news follows Wal-Mart Stores' announcement that it would cut the price of 10 popular toys to $10. Target Corp., meanwhile, said it will shop at competitors stores for toys during fall to ensure its prices are competitive, and added it offers popular toys for $10 or less.
CEO of Foot Locker's U.S. Division Out in Shake Up
New York City Richard T. Mina, president and CEO of Foot Locker Inc.'s U.S.A. division since 2003, has stepped down. According to a company filing with the Securities and Exchange Commission, Foot Locker notified Mina it would terminate his employment as of Oct. 31.
As a result of the management changes, the role of president and CEO will be effectively eliminated, company officials said Wednesday.
Staples Tests Green Delivery Trucks
Framingham, Mass. Staples is testing two hybrid delivery trucks, according to Wired.com. The retailer worked with Isuzu to develop the diesel-electric trucks, which are being tested in Los Angeles and Boston.
The trucks feature nickel-metal hydride batteries, weight-saving measures and a button that turns on the 85-horsepower electric engine mounted behind the transmission.
Payment Card Industry Releases Latest Standards
Wakefield, Mass. On Wednesday, the Payment Card Industry Security Standards Council (PCI SSC), formally published version 1.2 of the PCI Data Security Standard (DSS). Effective immediately, version 1.2 replaces version 1.1, which had been in effect since December of 2006. However, version 1.1 officially "sunsets" on December 31, 2008.
Earlier this year, PCI SSC released a summary of proposed changes that would be included in version 1.2, although the primary objective of the updated DSS was to clarify the existing requirements of version 1.1.