News

Return fraud during the holidays is a growing problem for retailers—and also an extremely expensive one.

CVS Health has completed its acquisition of Target’s pharmacy and clinic business for approximately $1.9 billion, the two companies announced Wednesday.

Pier 1 Imports says it is still confident in its omnichannel strategy despite a mostly flat third quarter in which the company struggled with the same soft store traffic impacting many other retailers.

For the third quarter ended Nov. 28, the specialty retailer said same store sales decreased 0.7%. Total sales decreased 2.5% (a 1.4% decrease on a constant currency basis) to $472.5 million, compared to $484.5 million in the third quarter of fiscal 2015. Net income $10.92 million, or 13 cents a share, vs. a profit of $17.86 million, or 20 cents a share, a year ago.

A CEO who took over family business when he was 27 years old is the next retailer to be spotlighted on the CBS television show, “Undercover Boss.”

Sam Dushey heads up Shoppers World, a family-owned and -operated full-line discount department store chain headquartered in New York City. In his 10-year stint as CEO, Dushey has grown the business from eight stores to 40 locations across 11 states and up to $250 million in annual retail sales. Dushey is now looking expand the company to 500 stores.

2015 has been a good year for e-commerce. Alibaba shattered records on Singles Day with $14.3 billion in sales. India witnessed a boom in e-commerce investment from companies looking to win the millions of new smartphone users. Even the Girl Scouts joined the digital mix, rolling out version 2.0 of their Digital Cookie program to boost their online cookie sales.

Dylan’s Candy Bar has achieved double-digit revenue growth since deploying a new solution to replace multiple legacy on-premise systems, including a custom-built warehouse management system. Dylan's Candy Bar has deployed NetSuite to manage its mission-critical business processes, including financials, inventory and order management, warehousing and customer relationship management.

Burberry is teaming up with top-flight partners including movie studio Dreamworks and Google to deliver next-generation marketing campaigns that include interactive 3-D displays and real-time video promotions. [Media Post]

At CVS Health’s annual Analyst Day held Wednesday here, Helena Foulkes, CVS/pharmacy president, shared significant details on the progress CVS Health has made to drive growth in its stores.