Retail Roundup: Boscov's Bailout Falters, E-Commerce SEO Tips, More
Boscov's bailout falters after Penn. counties reject loan -- Pennsylvania officials are struggling to scrape together a plan to keep Boscov's department-store chain afloat after two of the seven counties with Boscov's stores within their borders declined to partake in a $35 million scheme to bailout the suffering retailer. After being rejected by Pennsylvania's Snyder and Butler counties, the five counties that already approved hefty loans may now be asked to increase their share to make up the difference. Last year the state made $35 million in government loans available through the U.S. Department of Housing and Urban Development to help the regional chain survive the downturn. Boscov's filed for Chapter 11 bankruptcy protection in August. [Source: The Morning Call]
Experts share tips for turning retail sites into Google magnets -- Web pros revealed easy tips for retailers to boost their Web sites' rankings on search engines like Google and Yahoo during Tuesday's Internet Retailer Web Design '09 Conference in Miami Beach, Fla. Because all retailers with a Web presence can make Google work to their advantage, Marion Sharkey of PM Digital explained every page should feature a title that including a few keywords the retailer wants to rank high on. She said online appliance retailer AJMadison.com's title rattles off a lengthy list of products for sale, including stoves, washers, and refrigerators. Because a page is not likely to rank high on all these appliance terms, Sharkey suggested limiting the title to three keywords. For more tips on turning your retail site into a Google magnet, click here. [Source: internetretailer]
Wal-Mart's international business heats up as it expands presence in Chile -- Wal-Mart's tender offer to acquire a majority stake in Chile's largest food retailer was successful, according to an announcement issued today by the world's largest retailer. Wal-Mart said it acquired 58.2 percent of Distribucion y Servico's shares, while brothers Felipe Ibanez Scott and Nicolas Ibanez Scott will retain about 40.1 percent of the food company's shares. The acquisition was significant for Wal-Mart, which has been looking to expand in Chile as it shifts its focus to its international business, the company's fastest-growing division. [Source: BusinessWeek]
Canadian retail plunges -- Canadian retail sales saw their biggest fall of the decade in November, according to figures released this week that show the nation is officially in the fold of a downturn. "With the numbers already out for wholesaling and manufacturing for November, the retail picture completes a disastrous month for the economy that puts us firmly into a recession," Toronto economist Avery Shenfeld said Wednesday. [Source: bloomberg]