PPS helps curb shoplifting
HICKSVILLE, N.Y. New Business Solutions recently introduced its Product Protection System, a loss-prevention shelving solution designed to deter theft of high-shrink items.
Specifically, the new shelving unit helps thwart professional shoplifting groups by eliminating the ability to sweep a shelf, in other words dumping an entire shelf of merchandise into a duffel bag at once.
However, the unit does not inhibit legitimate customers from accessing the product without the help of store personnel. The gravity-feed front orientation of a PPS designed to display baby formula, for example, allows one canister of formula to be dispensed at a time. There is a 20-second delay before another canister can be accessed, and no power supply is required, the company stated.
The PPS can be customized to accommodate various product sizes and fit into an assortment of planograms, the company noted.
Dollar Tree completes purchase of Dollar Giant assets
CHESAPEAKE, Va. Dollar Tree on Wednesday announced that it has completed its purchase of the assets of 86 Dollar Giant stores for approximately $52 million in cash, plus the assumption of certain liabilities.
This marks Dollar Tree’s first expansion of retail operations outside of the United States.
Based in Vancouver, British Columbia, Dollar Giant stores offer a wide assortment of general merchandise, contemporary seasonal goods and everyday consumables, all priced at Canadian $1.25 or less. The stores average 9,000 gross sq. ft. and operate in British Columbia, Ontario, Alberta and Saskatchewan.
"We now have an outstanding platform for significant expansion in Canada, with an experienced team of management and associates,” stated Bob Sasser, Dollar Tree president and CEO.
Dollar Tree operates 4,009 discount variety stores across 48 states. The company is one of the few operations in the dollar channel that literally sells everything for $1 or less.
Deloitte consumer spending index drops in October
NEW YORK — Soft housing prices drove down the Deloitte consumer spending index for the month of October, Deloitte said Wednesday.
The index, which is comprised of four components — tax burden, initial unemployment claims, real wages and real home prices — fell to 4.63%, from an upwardly revised gain of 4.84% a month ago.
But Deloitte said that the drop is no reason to give up hope on the holiday season.
"Despite the index’s recent weakness, there are signs that consumers are starting to shake off their long-term austerity in time for the holiday season," said Alison Paul, vice chairman and retail sector leader at Deloitte. "Recognizing there is still fierce competition for consumers’ wallets this season, retailers should be ready to capture the consumer’s interest with renewed focus on their exclusive items, personalized service and targeted promotions."