Cutting prices to lure customers into a store often reduces profit and gives customers the impression prices should be lower. Small businesses, especially specialized ones, are more about value and service than low prices.
William Mitchell, senior vice president of domestic operations, will be the new U.S. president for Papa John's, replacing William Van Epps. The job oversees all corporate and franchised operations in the U.S.
Tiffany will close its 16 Iridesse pearl-jewelry stores, enabling the company to focus on its core brand. "It had been posting an operating loss since it opened," a spokesman said. "It might have been viable if there was a better retail environment, but the economy was the last straw."
Sears will post more extensive product information on its Web site and will enable customers to upgrade their cable service in its stores, the company's new president of home electronics said. The moves are part of an effort to offer a more interactive customer experience.
Several industry analysts believe Wal-Mart Stores' decision to increase wages at some of its locations is part of a larger plan to attract more affluent customers. Wal-Mart insists the wage hike is designed to help the company compete.