Finance & Capital Management

It's changing of the guard time at Chico's FAS.

After what it called an extensive search, the retailer named industry veteran Shelley Broader as president and CEO, effective Dec. 1. She succeeds David F. Dyer, who will become vice chair of the Chico's board.

Broader brings over 25 years of experience to her new position. Most recently, she served as president and CEO of Walmart's EMEA region, responsible for retail operations and business development across Europe, the Middle East, Sub-Sahara Africa and Canada.

There has been a bit of controversy lately regarding Urban Outfitters' recent request that some of their salaried employees “volunteer” to fill normally hourly roles in fulfillment centers and retail outlets. The labor community and their activist friends have been crying foul over what they perceive is the manipulation of salaried junior managers by forcing them to work “hourly” jobs and getting no additional pay or benefits.

The latest case of reported retail POS fraud highlights the need for EMV adoption.

Regional convenience chain Casey’s General Stores Inc., which operates 1,887 stores in 14 states, has confirmed that credit card skimming devices were discovered at six of its stores in Nebraska and one store in Iowa.

German discount grocery chain Lidl has broken ground for a new regional U.S. headquarters and distribution center in Spotsylvania County, Virginia. The facility is expected to create 200 jobs in the state and open no later than 2018.

Walgreens Boots Alliance and Rite Aid Tuesday evening announced that they have entered into a definitive agreement under which Walgreens Boots Alliance will acquire all outstanding shares of Rite Aid for $9 per share in cash, for a total enterprise value of approximately $17.2 billion, including acquired net debt.

Alibaba Holding Group Inc. profits surged as a result of a one-time benefit in the second quarter of fiscal 2016, while mobile sales boosted revenue.

A revaluation of Alibaba’s holding in its Alibaba Health Information Technology Ltd. subsidiary drove year-over-year net income growth of 657% to $3.57 billion, from $480 million.

Boston – Gordon Brothers announced that Alex Sutton, managing director of Industrial Inventory for Gordon Brothers-AccuVal, will be honored by the Commercial Finance Association with the 2015 Harry H. Chen Memorial Instructor of the Year Award.

Two weeks after publicly stating it had lost $56 million processing payments for Starbucks, Square no longer has to worry about future losses.

Starbucks has selected Chase Commerce Solutions, the global payment processing and merchant acquiring division of JPMorgan Chase & Co., to transition processing of all non-mobile payments and U.S. retail card payment transactions in company-operated stores. Chase will also partner with Starbucks on the rollout of chip-enabled payment terminals.