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Retail Markets Sears.com launches 3-D visual search Sears Holding, Roebuck and Co., Hoffman Estates, Ill., unveiled a first-of-its-kind 3-D visual search and e-commerce capability for Sears.com that will significantly improve and enhance a consumer's online shopping experience, says the company. Sears says it is the first retailer to apply both a visual search and virtual model to an entire catalog online. The updated Sears site, powered by IBM WebSphere Commerce and My Virtual Model, will allow consumers to search for merchandise using 3-D images versus words, and to virtually "try on" selected items using a personalized model of themselves, with matching height, weight, body shape, and even a headshot photo, to ensure that the style, color, pattern, and fit are right before purchasing. The 3-D angle allows users to view garments on themselves from the front, side, and back. Shoppers can also email images of their looks to friends and family to help them make final purchasing decisions. Longs Drug declines Walgreen interest, may follow through with CVS offer Longs Drug Stores Corp., Walnut Creek, Calif., rejected interest from Walgreen Co. to buy the company for $2.7 billion, saying Walgreen didn't adequately address antitrust concerns, reports The Wall Street Journal. The Longs board still recommends that shareholders accept CVS Caremark Corp.'s lower bid of $2.6 billion, while two major shareholders disagree, favoring a deal with Walgreen Co. Walgreen Chief Executive Jeffrey A. Rein said in a letter to the Longs board that Walgreen was willing to take its bid directly to Longs shareholders, says the article. Two major shareholders, investment firms Advisory Research Inc. of Chicago and Pershing Square Capital Management LP of New York, won't tender their shares to the CVS offer. Critics have been upset that Longs didn't hold an open bidding process and have argued that the $1 billion value CVS Caremark placed on Longs's real-estate holdings undervalued those assets, says the article. CtW Investment Group research director Richard Clayton, said earlier this week he was "very disappointed with the response from Longs today, which we view as being intransigent. It certainly doesn't indicate a willingness to recognize how badly flawed the process was in approving the CVS merger." In a recent statement, CVS Caremark said it was pleased with the Longs board's decision. "We look forward to completing the transaction," the company said. |
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