News

The Internet of Everything (IoE) has moved from vision to reality in retail and food industries, creating a “Connected Food” movement that is transforming everything from the way consumers shop, to how products are sold and how retailers can run their businesses.

Fresh on the heels of its announced $17.2 billion acquisition of Rite Aid, Walgreens Boots Alliance reported fourth-quarter net earnings of $26 million and a boost in same store sales.

Net sales climbed almost 50% to $28.5 billion during the quarter, which ended August 31.

Walgreens Boots Alliance and Rite Aid Tuesday evening announced that they have entered into a definitive agreement under which Walgreens Boots Alliance will acquire all outstanding shares of Rite Aid for $9 per share in cash, for a total enterprise value of approximately $17.2 billion, including acquired net debt.

Kroger customers who don’t have time to do their own shopping have another option.

At its investor meeting, Kroger officially announced the name of its click & collect program – “ClickList.” Click & collect lets customers select (and in many cases pay) for groceries online. Store employees then gather the items off store shelves for convenient customer pickup.

Consumers will be able to more easily find and download retail e-commerce apps from the Apple App Store just as the holiday shopping season heats up.

Apple will launch a new category called “Shopping” on the App Store on Nov. 5. The category will include e-commerce apps from retailers such as Amazon, Walmart, Target and eBay. Also included will be apps from digital coupon and deal providers such as RetailMeNot and Groupon, as well as price comparison apps such as ShopSavvy.

The mobile payment arena keeps getting more crowded.

Two weeks after U.S. bank Capital One partnered with MasterCard and Visa to offer contactless mobile payment capability in its Capital One Wallet app, another major bank plans to offer a mobile payment app.

J.P. Morgan Chase & Co. is launching Chase Pay, a tokenized mobile payment service for in-store, in-app and online purchases. Interestingly, Chase is partnering with MCX, a retailer-backed mobile payment consortium, as its premier partner.

Coach says increased demand for its merchandise and fewer discounts led the luxury goods maker and retailer to report increased profit in the first quarter despite a steep 9.5% drop in same-store sales.

The company said that for the first quarter ended Sept. 26, earnings were 41 cents a share (analysts expected 40 cents). Net income fell 19% to $96.4 million. Sales dropped 0.8% to $1.03 billion in the quarter, missing analysts’ $1.04 billion projection.

Walgreens Boots Alliance is in advanced talks to acquire Rite Aid in a deal that could be worth as much as $10 billion, according to a report published Tuesday by The Wall Street Journal.

Kohl’s is in growth mode when it comes to the retailer’s store base.

Next year, Kohl’s plans to open five to 10 new stores in a smaller 35,000-sq.-ft. prototype, aimed at underserved areas. Kohl’s also plans to open 10 to 15 stores dedicated to its proprietary Fila brand in outlet malls across the country. Additionally, the retailer will open two more Off-Aisle by Kohl’s off-price locations in 2016.

A new holiday shopping survey reveals major disruptions in holiday shopping traditions, largely due to digital engagement.

Deloitte’s 30th annual holiday survey of consumer spending intentions and trends finds that some shopping traditions are losing their luster.

Key findings from the survey of more than 4,000 U.S. consumers include: