Strategy

Digital River, a leading global provider of commerce-as-a-service solutions, has appointed Jeffrey Katz to its board of directors.

A technology and travel industry veteran, Katz recently served as the CEO of Wize Commerce, a global leader in online monetization and traffic acquisition technologies. He was the founding CEO, chairman and president of Orbitz from 2000 to 2004.
 

Woonsocket, R.I. – CVS Caremark is reportedly considering a purchase of Brazilian drugstore chain Drogarias Pacheco São Paulo (DPSP) as it looks to further expand its presence in Brazil, according to news reports.

Following the alleged rejection of its first offer of 4.5 billion Brazilian reais ($2 billion), CVS is reportedly looking to possibly make another offer, the Wall Street Journal reported, citing the local newspaper Valor Economico. DPSP has reportedly set a minimum price for the company at BRL5.9 billion.

Severe weather may have taken a bite out of Shoe Carnival’s same-store sales, but the retailer still plans on opening 23 to 28 new stores in fiscal 2014, including 16 in the second quarter and seven to 12 in the fourth quarter.

The company reported a 3% year-over-year drop in net income to $9.2 million, from $9.5 million in the prior-year quarter. Net sales increased 1.5% to $235.8 million, from $232.3 million in the prior-year quarter. Same-store sales declined 1.7%

Minneapolis -- In a move to further boost its marketing organization, Target Corp. has hired Kristi Argyilan as senior VP, media and guest engagement, effective June 2.

Argyilan comes to the Target from IPG Mediabrands where she was most recently the president at Magna Global, North America. She has also held senior positions with advertising and integrated marketing agencies including Arnold, Hill Holiday, and Goodby, Silverstein & Partners.

Baltimore — The Mall of Istanbul opened today in Istanbul, Turkey. The 34.5-acre mixed-use development features 2.1 million sq. ft. of retail space, 1.4 million sq. ft. of residential space and 322,600 sq. ft. of office space.

Baltimore-based DDG won the design contract for the mall in 2009 in an international competition.

Greensboro, N.C. – The Fresh Market Inc. reported decreasing profit in the first quarter of fiscal 2014 even as net sales growth exceeded Wall Street expectations. Net income fell 25% to $16.57 million from $22.12 million in the same period the prior year, while net sales increased 18% to $431 million from $366.63 million and same-store sales climbed 2.5%.

Fresh Market plans to open four new stores in the second quarter and 12 to 13 new stores in the second half of the year, as well as remodel four-to-five stores.

New York – Foot Locker Inc. had a successful first quarter of fiscal 2014, with rising sales driving solid net income performance. Net income grew 17% to $162 million, from $138 million in the first quarter of fiscal 2013.

Net sales rose 14% to $1.87 billion, from $1.64 billion. Same-store sales climbed 7.6%.

The Lovely Candy Company has expanded its gluten- and GMO-free line with a gluten-free licorice, which it touts as the first gluten-free extruded licorice product in North America.

Branded as Lovely Licorice, the product is marketed to consumers with food sensitivities such as celiac disease. The gluten-free licorice is the brainchild of company founder Mike Nakamura, whose wife has not been able to have licorice because of her gluten-free dietary restraints. Nakamura founded the company in 2013 as a result of her request for licorice she could eat.