February 22, 2010-- Home Textiles Today,
Walmart to Lay off 300
Walmart U.S. plans to lay off 300 headquarter employees, primarily in corporate support.
The move comes a month after the company said it would eliminate more than 11,000 positions at Sam’s Club. The company eliminated more than 700 Walmart U.S. positions a year ago.
“This was a difficult decision, but I believe that if we ask our operations to be leaner and more customer-focused, we must ask the same of our support teams at the home office,” president and ceo Mike Duke said in a memo to company staff.
Target Debuts Mobile Gift Cards
Target has launched a mobile gift card that can be saved to a PIN-secure account on the Target.com mobile site. Taget’s scanners then retrieve virtual gift card barcodes at checkout.
Mobile gift card holders can upload multiple Target GiftCards and check their balances.
Target claims to be the first major retailer with the ability to scan mobile barcodes in all of its 1,740 stores.
Duckwall-ALCO Closes on Revolving Credit Facility
Regional discount chain Duckwall-ALCO Stores Inc. has closed on a new $120 million four-year revolving credit facility with Bank of America N.A. and Wells Fargo Retail Finance LLC.
This new facility can be applied to working capital assets such as inventory purchasing as well as for acquisitions and other general corporate purposes.
The facility replaces Duckwall-ALCO’s previous $105 million revolving credit facility. As of fiscal year end Jan. 31, the company had $35.2 million borrowed under its previous revolving credit facility.
ShopNBC Expands Mobile Outreach
ShopNBC has launched a new mobile e-commerce platform as well as the second version of its iPhone application to boost orders from mobile devices.
The all-new mobile platform can be applied to major mobile brands, including iPhone, iPod Touch, BlackBerry, Palm Pre, and Droid. Mobile customers can shop more than 10,000 ShopNBC items, see daily specials, search for products by keyword or item number, and check orders and shipping status.
The new, free iPhone app provides a more comprehensive, user-friendly interface and allows users to order directly from an iPhone or iPod Touch.
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Live from New York Textiles Market: Day 3