Strategy

A veteran retail merchandiser is leaving Hudson’s Bay to join Stein Mart.   The off-price announced that MaryAnne Morin will join Stein Mart as president, effective Feb. 6, with responsibility for merchandising and marketing.      

PayPal credits partnerships for its revenue increase during the fourth quarter, as well as throughout 2016.   The digital payments company reported a 17% jump in revenue to $2.981 billion for the fourth quarter ended December 31, 2016. During this timeframe, PayPal also added 5.4 million active customer accounts; and 1.8 billion payment transactions, an increase of 23%. The company also reported $99 billion in total payment volume (TPV), up 22%.  

Eager for more control of how its products are shipped, Amazon is now organizing oceanic shipments.  

Abercrombie & Fitch is in cost-cutting mode.     The teen apparel retailer has let go 150 employees at its headquarters in New Albany, Ohio, Columbus Business First reported.    The retailer said the layoffs were part of its “ongoing cost reduction initiatives,” according to the report.  

Fraud, cyber and security incidents escalated in 2016.   That’s according to the “Kroll Annual Global Fraud and Risk Report,” which surveyed executives worldwide across multiple industries and geographies. The study noted that 82% of the respondents experienced a fraud incident in the past year compared to 75% in 2015.  

With the deadline for the deal set to expire Friday, Jan. 27, Walgreens Boots Alliance CEO Stefano Pessina told shareholders attending the Walgreens Boots Alliance annual meeting Thursday morning that the board of directors for both Walgreens and Rite Aid were in "active" discussions toward getting the deal approved even as the Federal Trade Commission continues to deliberate over the proposed retail pharmacy merger.  

A new acquisition by Alibaba positions the company to accelerate the accessibility of global financial services.   Ant Financial Services Group, Alibaba’s e-payment arm and the parent company of Alipay, is purchasing money transfer firm MoneyGram for approximately $880 million, according to Business Insider.   

Kimco’s $18 million renovation of Wilde Lake in Columbia, Maryland, has been completed and the mixed-use development is welcoming three new retail tenants.   Starbucks will open both a café and a drive-thru this year and Salons by JC plans a fall opening. Dynamic Dental Care opened in December. Wilde Lake has 230 residential units, 30,000 sq. ft. of office space, and 41,000 sq. ft. of retail.  

The former CEO of the nation’s top plus-size apparel chains will soon head up a food retailer.   Just days after it was revealed that Linda Heasely had left her position as chief executive of Ascena Retail Group’s Lane Bryant and Catherine’s, Honey Baked Ham Company announced that it had appointed her as its new CEO, effective Feb. 6, 2017.  

EBay Inc. reported its fourth consecutive quarter of sales gains amid a successful holiday, which saw it run its first-ever U.S. television commercial.     The online marketplace said that sales for the fourth quarter rose 3% to $2.4 billion. Net income rose to $5.94 billion, fueled by a $4.6 billion income tax benefit.