eCommerce

In the wake of acquiring Houston-based RediClinic, Rite Aid reported revenues of $6.6 billion for the fourth quarter ended March 1, resulting from a 2.2% lift primarily attributed to an increase in pharmacy same-store sales.

For the full year, Rite Aid reported $25.5 billion in revenues, up 0.5%.

Philadelphia – Destination Maternity Corp. reported declining net and same-store sales for the second quarter of fiscal 2014, compared to the same period a year earlier. Net sales decreased 6.5% to $126.1 million from $134.9 million, while same-store sales dropped 5.1%.

Destination Maternity said the decline in net sales resulted primarily from the decrease in comparable sales and decreased sales related to the company's continued efforts to close underperforming stores.

Union, N.J. – Bed, Bath & Beyond met Wall Street expectations with falling net earnings during the fourth quarter of fiscal 2013. Compared to the same period a year earlier, net earnings dropped 11% to $333.3 million, from $373.87 million.

Net sales fell 6% to $3.2 billion, from $3.4 billion. In one bright spot, same-store sales rose 1.7%. Bed, Bath & Beyond attributed some of its net earnings decline to disruptive weather in the fourth quarter.

J&R Music and Computer World may not be a retailer with which many are familiar, but it’s been a longtime institution in Lower Manhattan. After 43 years of business, owners Joe and Rachelle Friedman this week issued pink slips to all of the retailer’s employees and closed the doors of the block-long technology and music superstore.

Patrick Byrne has relinquished his role as chairman of Overstock.com and Stormy Simon was named president of the online discount retailer.

San Jose, Calif. – EBay Inc. has reached an agreement with investor Carl Icahn, ending the proxy contest before the company’s upcoming annual meeting of stockholders. Icahn is withdrawing both his proposal to separate the company’s PayPal business and his two nominees to the company’s board of directors.

Salt Lake City -- Overstock.com CEO Patrick Byrne has relinquished his role as chairman of the company. In other moves, co-president Stormy Simon was named president of the online discount retailer.

Byrne will continue to serve as CEO, while current executive vice chairman Jonathan Johnson assumes the chairman responsibilities Byrnes has held since 2006.

Fort Worth, Texas - RadioShack has opened two new concept stores in China and Malaysia, marking the brand's most recent moves throughout Asia and Southeast Asia.

Working with joint venture partner FIH (First Honest Enterprises Limited), RadioShack introduced its first concept store in China on March 21 with a grand opening ceremony at Huacao Town, Shanghai. RadioShack and franchise partner Berjaya Retail Berhad also relaunched a completely renovated existing store at Mid Valley Megamall in Kuala Lumpur, Malaysia on March 26.