Omnichannel

SAN JOSE, Calif. — eBay reported that it has completed its previously announced acquisition of GSI Commerce, a leading provider of e-commerce and interactive marketing services. The stockholders of GSI approved the adoption of the merger agreement with eBay at the special meeting of stockholders held on June 17 and the merger became effective later that day.

It was the biggest story in the retail world last week when JCPenney announced it had hired Ron Johnson as its new CEO with the incoming executive vowing to transform the way America shops by reinventing the department store. Such statements normally elicit a yawn because they are so common, but Johnson is the former SVP retail at Apple and spent the past 11 years overseeing the development and growth of the company’s wildly successful and widely heralded retail operation.

New York City -- Mobile commerce is expected to reach $31 billion by the end of 2016, according to a new report from Forrester Research.

The report, “Mobile Commerce Forecast: 2011 to 2016,” predicts an annual compound growth rate of 39% for mobile commerce over the next five years.

The report predicts mobile commerce will reach $6 billion by the end of this year, $10 billion next year and $31 billion by 2016.

New York City -- Kroger Co. reported double-digit jumps in first-quarter revenue and net income, as the chain's fuel stations and loyalty discounts helped draw more frequent shoppers.

Kroger said net income rose to $432.3 million, up nearly 16% from $373.3 million, or 58 cents per share, a year ago. Revenue rose 11% to $27.5 billion. Same-sales rose 4.6%, excluding fuel sales.

Kroger has steadily expanded its gas business, now with more than 1,000 store gas stations at its nearly 2,500 stores.
 

ST. PETERSBURG, Fla. — HSN announced that Arthur Lewis has been appointed SVP merchandising, digital commerce, effective June 27.  Lewis will report directly to Jill Braff, EVP digital commerce for HSN.

Lewis will oversee HSN's cross-channel merchandising strategy on hsn.com, mobile and tablet platforms.  He will also leverage his extensive digital background to grow all brands and categories of business, including online product exclusives and category expansions, the company reported.

Thousand Oaks, Calif. -- Beverly Hills, Calif.-based Cardinal Equities, through its affiliate Paradise Capital Group, said it has acquired from U.S. Bank a 50,000-sq.-ft. retail and office complex in Dos Vientos Ranch, a master-planned community in Thousand Oaks, Calif.

Paraiso Town Center, built in 2008 and foreclosed on by the construction lender in late 2009, includes 40,000 sq. ft. of ground-level retail and restaurant space with outdoor dining, and 10,000 sq. ft. of office space.