Sales & Marketing

By Peter Burgoyne, [email protected]

Leading payment processor Vantiv said it signed an agreement to acquire Litle & Co., a leading mobile payment processor in a deal valued at $361 million.

According to Vantiv president and CEO, Charles Drucker, the deal makes sense because e-commerce is one of the fastest growing segments of payments.

St. Petersburg, Fla. -- Multichannel retailer HSN Inc. reported Wednesday that net income for the third quarter dropped 27.2% to $17.7 million, from $24.3 million in the year-ago period. Results still beat Wall Street projections.

Revenue rose 7.1% to $778.8 million, beating analysts’ estimated $747.1 million in revenue.

The company has now seen profit fall in two consecutive quarters, but it has beaten Wall Street estimates for three quarters in a row.

WAYNE, N.J. — The Toys"R"Us Children's Fund has pledged a $500,000 donation to Save the Children, a global humanitarian organization, to support its initial work and assessment of needs for children and families in evacuation shelters. These funds will also help the organization distribute much-needed items, including hygiene kits, diapers, and baby wipes.

Endcaps at Target stores are touting the retailer’s “Top Toys,” selections for the upcoming holiday season. Meanwhile, real estate on side panels is being used to appeal to shoppers with smart phones who are encouraged to scan a QR code to complete an order and receive free shipping.
 

Boca Raton, Fla. -- Office Depot Inc. said Tuesday it has approved a poison pill defense to preclude investor Starboard Value LP from waging a takeover of the company.

The activist investor became the office-supply retailer’s largest shareholder last month and has begun pushing for changes.

The poison pill is a shareholder rights plan that would give its investors additional shares if one entity surpasses 15% ownership. Starboard owned 14.8% as of Oct. 12.

San Diego, Calif. -- Warehouse club operator PriceSmart reported Wednesday that net income for the quarter ended Aug. 31 rose to $17.7 million from $12.7 million in the year-ago period.

Total revenue rose to $515.5 million from $447.4 million.

The opening of the first CityTarget in Chicago was a big deal this summer, but next fall an even bigger development is coming to an area just a few miles further north.