Corporate Governance

Amazon puts toe in banking sector by selling student loans
Amazon Prime has added yet another item to its growing lineup of membership benefits: discounts on student loans. The online giant is teaming up with Wells Fargo to offer Amazon Prime Student members a discount on private student loans that are taken out through Wells Fargo Educational Financial Services, the largest private student lender among U.S. commercial banks. (Membership in Amazon Prime Student costs $49 a year, which is half the price of a regular Amazon Prime membership.)
Party City taps former Ahold exec as new finance head
Party City Holdco Inc. on Thursday named Daniel J. Sullivan as CFO. Sullivan succeeds Michael A. Correale, who is stepping down as Party City CFO to focus on the newly created position of executive VP chief accounting officer and treasurer, effective Aug. 29. In his new role, Correale will be responsible for all of the company’s external financial reporting, treasury functions, banking and credit relationships.

Home remodeling boom is good news for retailers

With home prices on the rise, consumers are once again investing in remodeling and repair projects.
The ‘Whole Foods Effect’ shines on

The surge in health-conscious retailers is evident wherever one shops. In the space of a few years, the likes of Lululemon, Fresh Market, and Orangetheory Fitness have proliferated in shopping centers. But Whole Foods, arguably a chief driver of the trend, has transformed its own business as well as that of centers.
eBay marks big milestone in second quarter

eBay beat sales expectations in its second quarter, during which it also crossed an important threshold.

The online marketplace reported that it crossed the one billion live listings mark in the quarter, reflecting its efforts to expand the breadth of selection offered to consumers and the progress it has made on enhancing its shopping platform.

eBay reported net income of $435 million, or 38 cents a share, up from $83 million.
Target in smaller store urban push

Target Corp. is expanding its portfolio of smaller stores.

The chain expects to roll out 14 more of its smaller stores this year, including a 21,000-sq.-ft. location in the Queens borough of New York City, which is opening this week, according the New York Post.
Analysis: Unilever acquires online retail startup Dollar Shave Club

The Unilever-Dollar Shave Club deal reflects the growing importance of emerging brands, vertical integration, and the consumer direct route to market favored by new CPG market entrants such as Dollar Shave Club, Honest Co., and NatureBox.
What’s the connection between Donald Trump and American Apparel?

Politics can make for some strange bedfellows. Donald Trump’s campaign is reportedly using American Apparel to manufacture some of its campaign apparel merchandise, according to Fortune.
Radial preparing for happy holiday

At least one retail industry participant is expecting the 2016 holiday season to be prosperous. Omnichannel commerce technology and services provider Radial plans to hire an additional 550 workers in Reno, Nevada to support an expected 10-fold increase in demand during the upcoming holiday season. Radial operates fulfillment centers in Reno, which are in need of workers to help support its retail clients.
Target hires Apple veteran to oversee global logistics

A veteran of Apple has been named as the new senior VP in charge of global logistics, inventory allocation and replenishment at Target. Ben Cook will lead the optimization of Target’s inbound and outbound supply chain processes, including carrier transportation and last-mile delivery. He’ll also oversee inventory allocation and replenishment, merchandise planning operations and global logistics. He will report to Target’s executive vice president and chief supply chain and logistics officer, Arthur Valdez.
Kroger to create new specialty pharmacy division

The Kroger Co. is expanding its position in the pharmacy vertical. Axium Pharmacy Holdings Inc., a wholly-owned subsidiary of Kroger, will acquire Orlando, Florida-based specialty pharmacy retailer ModernHealth. Financial terms of the agreement with ModernHealth parent company ModernHC Holdings Inc. were not disclosed. The deal will create a combined specialty pharmacy that will operate as a wholly-owned Kroger subsidiary.
Study: Book retailer shows brand strength

A familiar chain has been named the most powerful retail brand of 2016. According to the 2016 Top 100 Most Powerful Brands report from brand marketing firm Tenet Partners, Barnes & Nobile is the most powerful retail brand, and 32nd most powerful brand overall, of the year. This is the second straight year Barnes & Noble ranked highest among retailers.