Talbots renegotiates payment terms with vendors after losing bank funding

Chantal Todé April 16, 2008

The Talbots Inc. is the latest multichannel merchant to become a victim of the financial industry's growing wariness of funding retail operations. However, Talbots quickly responded, by renegotiating terms with its vendors and said these arrangements are expected to be sufficient to fund the company's working capital needs under its 2008 operating plan.
 

NY online retail tax approved

Alyson Grala April 14, 2008

Late last week, New York legislators approved a bill that will require out-of-state online retailers to begin collecting sales taxes on purchases shipped to New York addresses, meaning that companies such as Amazon, which has no employees or operations in New York, will be required to collect state taxes because several of its affiliates live in the state. This will effectively end tax-free online shopping in New York.
 

Banks not bailing out retailers

Chantal Todé April 11, 2008

Some banks are displaying a lack of confidence in catalog and multichannel retail operations. Several multichannel merchants have closed or warned that they may have to cease operations after financing has dried up.
 

Sharper Image chairman resigns, may buy company

Chantal Todé April 10, 2008

Jerry W. Levin, chairman of the board at Sharper Image Corp., has informed the company that he is interested in participating with other investors to acquire some or all of Sharper Image's businesses or assets. Accordingly, it was agreed that Levin would resign his position with the board effectively immediately.
 

BabyUniverse launches catalog, updates Web site

Chantal Todé April 10, 2008

Online baby products retailer BabyUniverse delivered its first-ever catalog to expectant moms on April 1. The launch coincided with the introduction of a new logo and an overall updating of the brand's imagery on its Web site and in its various communications with consumers.
 

Coupons gather momentum in economic downturn

Alyson Grala April 10, 2008

Economic woes indicate an increase in coupon usage, according to a survey by ICOM Information & Communications LP (ICOM). The survey was conducted via e-mail using a random sample of 40,000 US households from ICOM's 26 million Shopper's Voice database.
 

Celebrate Express exploring possible sale

Chantal Todé April 09, 2008

Online and catalog party products merchant Celebrate Express Inc. has been approached by third parties expressing a possible merger or acquisition involving the company. In connection with these discussions, Celebrate Express has engaged Cowen and Company LLC as a financial advisor.
 

Red Envelope fate may be sealed

Chantal Todé April 07, 2008

Red Envelope Inc. appears to be the latest multichannel retail casualty of 2008. In a filing with the Securities and Exchange Commission on March 31, Red Envelope said it was informed days earlier by Wells Fargo Retail Finance LLC that it would no longer provide the multichannel merchant with the ability to draw on its credit line.
 

Southern Fulfillment Services acquires Pittman & Davis

Nathan Golia April 07, 2008

After an approximately 10-month search, food and gift cataloger Pittman & Davis has been sold to holding company Southern Fulfillment Services LLC. Terms of the deal were not disclosed. The buy will enable Southern Fulfillment Services to expand geographically into Texas, and diversify its operations and cross-marketing tactics, according to a company release.
 

Wal-Mart kicks off eco effort

Chantal Todé April 07, 2008

In recognition of how important environmental issues have become to consumers, Wal-Mart has turned Earth Day into a month-long marketing event reaching across TV, radio, print, online and in stores.
 
 
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