Finance & Capital Management

San Francisco – Although the mobile payment partnership that Starbucks and Square launched in 2012 will soon be ending, Square is reportedly still actively working with Starbucks. According to the San Francisco Business Journal, Square is publicly informing its users that Starbucks is using Square technology to process payments at 7,000 stores.  

LOUISVILLE, Ky. — Spend on prepaid gift cards is on the rise this holiday season, as a significant majority (70%) of shoppers plan to purchase gift cards this season, according to an interim holiday spending report released by Stored Value Solutions, a provider of gift cards and stored value services.   According to the report, 92% of shoppers plan to spend either the same amount or more on gift cards than they spent last year. And for the eighth straight year, gift cards have been the most desired holiday gift.

Walgreens said stronger sales from established stores helped it trump analyst expectations for the first quarter, even as the company's acquisition of European retailer Alliance Boots remains on track to close this month.

Walgreens reported a 16.4% lift in quarterly profit to $809 million that was credited to the 222 million prescriptions filled for the first quarter ended Nov. 30. 

A search is underway for a new CEO at Walgreens following the resignation of president and CEO Greg Wasson as the retailer moves toward creation of a new holding company ownership structure and complete its largest ever acquisition.

New York - Retail sales worldwide, including both in-store and Internet purchases, will total nearly $22.5 trillion this year. According to new figures from EMarketer, the global retail market will see steady growth during the next few years, and in 2018, worldwide retail sales will increase 5.5% to reach $28.3 trillion.  

New York City - In not-unexpected news, Family Dollar has delayed its shareholder vote on a potential acquisition by Dollar Tree; the vote is now slated for Jan. 22, and analysts say this could bode well for a potential deal with industry giant Dollar General.   Family Dollar convened as planned on Tuesday and, based on insufficient votes, subsequently adjourned its Special Meeting of Stockholders on the proposed transaction with Dollar Tree.  

New York City - Barnes & Noble announced that it has bought back full ownership of its Nook e-reader business, which it plans to split into a separate company.   On Tuesday, the bookseller said that it acquired educational book publisher Pearson Inc.'s stake in Nook for $27.7 million; the deal closed Monday, and Barnes & Noble said it now owns Nook Media outright.  

Family Dollar delayed a shareholder vote on a potential acquisition by Dollar Tree until Jan. 22 in a move that allows more time to contemplate a rival bid from Dollar General.

Family Dollar convened as planned on Tuesday and, based on insufficient votes, subsequently adjourned its Special Meeting of Stockholders on the proposed transaction with Dollar Tree.