HP, BearingPoint to Join on Electronic Tags
Hewlett-Packard Co. and computer-services company BearingPoint Inc. said they would work together to help retailers use radio frequency identification technology to manage inventory and study buying patterns.
The system uses electronic tags to track merchandise and is similar to electronic toll passes. Palo Alto-based Hewlett-Packard will provide computers and BearingPoint will offer consulting.
Shares of Hewlett-Packard fell 16 cents to $18.24 Shares of McLean, Va.-based BearingPoint, formerly known as KPMG Consulting Inc., fell 3 cents to $8.79. Both trade on the NYSE.
* Gap Inc. board member Glenda Hatchett is stepping down effective Oct. 31 because of professional commitments. That leaves the retailer with 13 board members, nine of whom are independent as defined by the NYSE.
* May Department Stores Co. named the head of its Hecht’s/Strawbridge’s division, Frank Guzzetta, chief executive of Marshall Field’s after buying the retail chain to expand into new markets.