News

Sears expects REIT by June 1, defends early vendor payment
Hoffman Estates, Ill. – Sears Holding Corp. expects to form a real estate investment trust (REIT) within a few months and sees nothing wrong with paying vendors early. In a public blog post, Rob Schrieshiem, executive VP and CFO of Sears, said the company expects to form an REIT to purchase between 200 and 300 stores by June 1, 2015.
Lowe's to give makeovers to "10 Bleakest Cities of 2015"
New York -- Lowe’s is looking to put smile on the face of residents who live in the 10 U.S. cities hardest hit by this past winter by giving the areas a makeover. Lowe's said it will deploy Lowe’s "Heroes," or employee volunteers, to visit the "10 Bleakest Cities of 2015" to complete makeover projects that have been neglected or delayed because of extreme winter conditions. Volunteers will complete projects such as painting, landscaping, creating outdoor rooms and adding curb appeal throughout the spring season.

Amazon expands one-hour delivery service to Baltimore, Miami

Seattle – Amazon.com is upping the competition with brick-and-mortar stores by expanding its one-hour Prime Now delivery service to Baltimore and Miami. The service, which was previously available only in Manhattan, offers one-hour delivery on tens of thousands of items through a mobile app.
Smart & Final swings to Q4 profit; to accelerate store expansion

Commerce Calif. -- Value-oriented food retailer Smart & Final Stores Inc. plans to accelerate its expansion after posting double-digit sales growth in the fourth quarter.
Smart & Final swings to Q4 profit; to accelerate store expansion

Commerce Calif. -- Value-oriented food retailer Smart & Final Stores Inc. plans to accelerate its expansion after posting double-digit sales growth in the fourth quarter.
Study: App security remains risky

Armonk, N.Y. – Mobile app use continues growing rapidly, but businesses are not keeping pace with security. According to new research from IBM and Ponemon Institute, nearly 40% of more than 400 large companies studied, including many in the Fortune 500, aren’t taking the right precautions to secure the mobile apps they build for customers.
Survey: RFID embraced for inventory tracking

Lawrenceville, N.J. - Apparel and general merchandise manufacturers and retailers are using item-level, electronic product code (EPC)-enabled radio frequency identification (RFID) to enhance inventory visibility and respond to consumer demands for omnichannel options. According to results of the 2014 GS1 US Standards Usage Survey, more than half (57%) of retailers reported that they are currently implementing RFID, and another 19% planned to implement RFID within the next 12 months.
French office supply retailer unifies supply chain with Symphony ETC

Paris – French office supply retailer Bruneau has selected the Symphony EYC G.O.L.D. unified retail platform to optimize its supplier and inventory performance. Bruneau plans to deploy G.O.L.D. master data management, merchandise management, supply chain management and warehouse replenishment.
Guess Q4 profit falls 23% but beats Street; online sales jump 37%

Los Angeles -- Guess reported a better-than-expected fourth quarter profit amid a 37% jump in the company’s online business and falling expenses. The apparel retailer, however, forecast a disappointing 2015, primarily due to the stronger U.S. dollar (1,190 of Guess’1,668 stores are located outside the United States and about 45% of its revenue comes from international markets).

Guess income fell to $53.9 million for the fourth quarter, ended Jan. 31, from $69.6 million a year earlier.
Facebook launching payments feature for Messenger app

New York -- Facebook Inc. is adding a new feature to its popular Messenger instant messaging service that will give users the ability to send money to friends. The Messenger app, which separated from Facebook’s main application in 2014, is one of the largest platforms in the world, with a reported 700 million users.

The new payments tool will be rolled out in the coming months in the United States for desktop computers and Google’s and Apple’s mobile platform. Facebook reportedly built the tool in house.  
Michaels profit up 18%, but issues soft outlook for 2015

Irving, Texas -- The Michaels Cos. reported Thursday its net income rose 18% to $157 million in the fourth quarter, up from $133 million in the year-earlier period. But the retailer gave a soft outlook for the year, citing, among other things, unfavorable Canadian exchange rates and the impact of the West Coast port slowdown.

Sales for the fourth quarter increased 3.4% to $1.61 billion. Same-store sales increased by 1.4%
Report: Target to pay $10 million in data breach class action

New York -- Target Corp. has agreed to pay $10 million in a proposed settlement of a class-action suit related to the company’s 2013 data breach, according to court documents filed Wednesday. The retailer confirmed the news in a CBS News report.

“We are pleased to see the process moving forward and look forward to its resolution," Target spokesperson Molly Snyder told CBS News late Wednesday.