eCommerce

TORRANCE, Calif. — Smack Sportswear, a maker of custom-designed volleyball and beach active apparel, has lured the former True Religion Apparel executive Charles A. Lesser out of retirement and into its CFO spot.

Smack manufactures its Southern California-inspired apparel in its headquarters, five miles away from the home of beach volleyball.

BOSTON — Wayfair.com, an online retailer of home goods and furnishings, has raised $36.3 million in new equity financing to fuel the growth of its private sale site for the home, Joss & Main.

Joss & Main has fared extremely well for Wayfair.com, having acquired nearly three million members and operating at a $100 million annual revenue run-rate. Investors include Battery Ventures, Great Hill Partners, HarbourVest Partners and Spark Capital.

New York -- CVS Caremark is reportedly looking to expand outside of the United States by acquiring Onofre, the eighth-largest pharmacy chain in Brazil, according to published reports.

The Valor Economico newspaper reported that CVS Caremark plans to pay $313 million to acquire an 80% stake in Onofre and will also assume the company's debt.

“We don’t comment on market rumors,” CVS Caremark spokesman Mike DeAngelis told Drug Store News.

Total U.S. Shopper Traffic in Retail Stores and Malls for November 2012

Shopper traffic in November increased as Black Friday weekend sales promotions — and the Veterans Day holiday earlier in the month — drew shoppers into retail stores.

As a result, the month saw an 18 percent increase in retail foot traffic compared to October. November 2012 continued a trend of year-over-year improvements with a 6 percent increase in retail foot traffic when compared to the same month last year.

Tesco and Walmart’s Asda division are intense competitors in the U.K. and that was supposed to be the case in the U.S. when Tesco arrived in 2007 with its Fresh & Easy format.

New York -- British billionaire Sir Philip Green, the owner of the Arcadia retail group, sold a 25% stake in his fast-fashion Topshop and Topman retail chains to Los Angeles-based Leonard Green & Partners for about $805 million. Arcadia’s other retail divisions include Miss Selfridges, Bhs, and Dorothy Parker.

Cincinnati -- Macy's Inc. on Friday said that its board has increased its share repurchase authorization by $1.5 billion.

The retailer said the increase brings the total approved to buy back shares to $1.86 billion.

Macy's CEO Terry Lundgren said that the company is committed to using its excess cash to enhance shareholder value through buybacks and dividends and the decision reflects the strength of the company's business.

WASHINGTON — Goodwill returns to the Pepco Edison Place Gallery with its Goodwill of Greater Washington pop-up retail shop. Pepco donated space so the stores can temporarily open its doors for the holiday with the theme Peace & Goodwill.