From back to school preparations to new developments in the Apple-Beats deal, here are some happenings in the world of retail to keep an eye on this week.
Sales tax holidays: Sixteen states (expected to be seventeen by August) have announced their back to school sale tax holiday dates, many of which start this week and next.
Maternity mergers: Destination Mothercare, parent company of A Pea in the Pod and Motherhood Maternity stores, has dropped its acquisition bid for British maternity retailer Mothercare. Some say that this was an inversion move by Destination Mothercare to avoid higher corporate taxes, an issue that President Obama specifically chastised in a speech made last week.
Apple/Beats acquisition gains approval from EU: While Apple’s acquisition of Beats was announced weeks ago, the move was approved by the EU yesterday, and has yet to be approved by regulators in the U.S. Approval is expected, as many are saying that the companies’ market share and variety of products make the acquisition nonthreatening to competition.
Back to school incentives: In an effort to attract as many back to school dollars as possible, Sears has announced that it will offer personal shopping services to members of its Shop Your Way loyalty program. Look for other retailers to start advertising unique services to compete in the second largest sales time of the year.
New hire in the social commerce scene: Launched a couple of months ago, the British social shopping app Favr.tt announced Monday the hire of Inmaculada Martinez for the company’s CEO position. The company is eyeing a U.S. launch, where it would compete with Shopa, Shopcade, and Nuji.
As always, be sure to check out the Retail Dive app throughout the day for up-to-date news and features on the retail industry.