The daily deals business is on shaky ground (again).
Groupon's shares have fallen below their IPO price, indicating that investors and merchants are having their doubts about the Chicago-based company's future, Bloomberg reported.
Ac cording to a study by Susquehanna Financial Group and the daily deal aggregator Yipit, merchants are be coming increasingly concerned about a low rate of reoccurring business from new customers.
As the largest daily deal site and the first to go public, Groupon has be come a litmus test for the daily-deal business. The company now has more than 10,000 employees, up from 37 in June 2009.
FINS spoke with e- commerce recruiters, investors and sales reps last November about the risks of working in online coupon sales. Among them: minimal job security and limited upward mobility.
Daily deals job seekers beware.
TJX Shakeup (Dow Jones via FINS)
Richard Sherr, the 54-year-old president of TJX's HomeGoods stores, is taking over as senior executive vice president of the Framingham, Mass.-based dis count retailer's Marmaxx Group, which consists of T.J. Maxx and Marshalls.
Retail Sales Growth (Bloomberg)
Sales at retail stores are expected to have risen as much as 4.5% in December compared to the year before, ac cording to the retail International Council of Shopping Centers, a retail trade group.
Shopko Pamida Merger (Retailing Today)
The Green Bay, Wis.-based retailer Shopko Stores is merging with the Omaha, Neb.-based department store chain Pamida to create one of the largest U.S. retailers targeted at rural communities. The combined companies will operate close to 350 stores in 22 states.
Crampsie's Promotion (Ad Age)
Lauren Crampsie, 31, chief marketing officer of Ogilvy & Mather North America will take over as the WPP agency's global chief marketing officer, replacing Eleanor Mascheroni.
Claiborne's New Name (Chain Store Age)
Liz Claiborne is changing its name to Fifth & Pacific Cos. after selling its top brand to J.C. Penney in October. The name change will take place on May 15.
Meredith Acquiring FamilyFun (Adweek)
As Disney continues to dump its print publications, Meredith continues to stack up new ones. Meredith is acquiring FamilyFun magazine from Disney Publishing Worldwide.
Buzz Around the Office
Destruction of Property (Regretsy)
What would you do if a company told you to destroy an antique?
List of the Day: Why You Should Work While You're in College
1. Working while you're in college will give you a head start on expanding your professional network.
2. Working while you're in college will help you prioritize your career goals.
3. Working while you're in college will give you a financial cushion during school and down the road.
(Source: Glassdoor. com)