Skip to main content

FINANCE

  • Commentary: Starbucks now “firmly in middle age”

    Neil Saunders, CEO of retail research and consulting firm Conlumino, comments on Starbucks’ first quarter results in the remarks below.    

  • Walgreens CEO: Company in 'active discussions' to get approval for Rite Aid deal

    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.  

  • Alibaba affiliate buys MoneyGram

    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.   

  • Founder sells Art Van Furniture to private equity firm

    The owner of one of the largest independent furniture chains in the country has sold his company to a private equity firm approximately 58 years after he founded it.  

  • Survey: Retail execs optimistic about 2017

    Retailers executives are bullish on 2017.   That’s according to a survey from TD Bank, which polled 173 retail executives at the National Retail Federation’s annual Big Show in New York City. Seventy-four percent of the retailers said they believe sales will increase in the next 12 months. What’s more, 81% of the retailers reported that they met or exceeded their revenue goals in 2016.   In other key findings:  

  • Here’s one company not singing the holiday blues

    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.  

  • Target lobbies against tax proposal

    Although it’s only one of many tax proposals being floating around, the so-called border adjustment tax has raised a red flag among many retailers.    The CEO of Target Corp., Brian Cornell, recently visited Washington to lobby against the House Republican proposal, according to Fortune, which noted the visit was first reported by Politico.  

  • Alibaba lifts outlook based on skyrocketing sales

    The Chinese e-commerce giant had a very merry holiday as its December quarter sales surged 54% year-over-year (YoY).   Alibaba’s sales hit $7.7 billion for the three months ended on Dec. 31, 2016, exceeding analysts’ expectation of $7.3 billion. The increase is also prompting the retailer to “adjust up our 2017 fiscal year revenue guidance from 48% to 53% year-over-year growth,” said Maggie Wu, CFO of Alibaba Group.   
X
This ad will auto-close in 10 seconds