Retail

On the heels of an expectation exceeding first quarter performance, Brown Shoe Company’s new “Caleres” corporate identity takes effect following the company’s shareholders meeting on May 28, which begs the question, what’s a Caleres?

Carpinteria, Calif. – America’s love affair with credit cards continues heating up. According to The Nilson Report, purchase volume at merchants for general purpose-type consumer and commercial credit, debit, and prepaid cards issued in the U.S. totaled $4.91 trillion in 2014, up 8.4% from 2013.

Credit cards increased their market share in purchase volume compared to debit and prepaid cards to 53.59% in 2014, up from 52.95% in 2013.

Bentonville, Ark. -- Walmart and the attorney for comedian/actor Tracy Morgan have reached a settlement agreement, ending a civil lawsuit related to a crash on the New Jersey Turnpike last June. The terms and conditions of the settlement with Morgan and the other plaintiffs remain confidential.

New York - Fairway Group Holdings Corp., the parent company of Fairway Market, moderately shrunk its net loss in the first quarter of fiscal 2015.

The retailer reported net loss of $8.54 million, down 3% from $8.84 million a year earlier. The decrease in the net loss was primarily attributable to a decrease in general and administrative expenses, production center start-up costs and direct store expenses, partially offset by lower gross profit and an increase in the income tax provision, interest expense and store opening costs.

Boston – Online specialty retailer Karmaloop Inc. has named Seth Haber as CEO. Haber is the former co-owner and director of Agenda Trade Shows.

Haber's appointment follows the recent acquisition of Karmaloop by Comvest Partners and CapX Partners, which includes all of Karmaloop's businesses; Karmaloop.com, PLNDR, Kazbah and Karmaloop Europe. Comvest and CapX will acquire Karmaloop as part of the company's voluntary Chapter 11 bankruptcy case. The sale is expected to close in early June.
 

Baseball fans and pet owners will have an opportunity to take their best friend with them to the ballpark later this summer when Petco holds its 11 annual “Dog Days of Summer” event and pregame “tail” gate party.

Petco hosts the event at Petco Park on Wednesday, July 1 for the 12:40 p.m. home game between the San Diego Padres and the Seattle Mariners. After hosting the event for 11 years, Petco has the logistics and unique operational considerations associated with bringing 500 dogs into a Major League Baseball stadium down pat.

Seattle – Amazon.com is hiring for more than 6,000 full-time jobs across its U.S. fulfillment network to meet growing customer demand. Employees will pick, pack and ship customer orders.

The stronger dollar hurt Tiffany and Co. in the first quarter, but the retailer's new efforts to woo ultra-wealthy shoppers helped offset weakness in its tourist business.