News

The Home Depot Inc. has reached a contingent settlement with MasterCard International Inc. over the home improvement giant's massive 2014 data breach, according to a new report. The Atlanta Business Journal says that while a contingent deal with MasterCard International appears to have been reached, other financial institutions suing the retailer say they want more information. [Atlanta Business Journal]

Forever 21 is heeding the popular wisdom that mobile devices serve as omnichannel remote controls with its new app.

The fast-fashion chain is unveiling a new Android app and updating its existing iPhone app. Designed to enhance the shopping experience in-store and online, the app features five key touch points, including:

• F21 Inspiration – displays shoppable editorial stories, shop by outfits, lookbooks and exclusive videos.

Everything old is new again at American Eagle Outfitters, apparently with good reason.

The teen apparel retailer on Wednesday named Jay L. Schottenstein as CEO, effective immediately. Schottenstein, who has served as interim chief since January 2014, will also continue in his role as executive chairman of the board. The news of his appointment came as the retailer reported a strong increase in its third quarter earnings. It was the chain’s third consecutive quarter of increased sales and profits.

It’s no wonder so many shoppers were not impressed with some of the big holiday deals being offered by big retailers this past week.

Strong sales at Maurices and Lane Bryant weren’t enough to lift Ascena in the first quarter, as the company reported a decrease in comps.

For the period ended Oct. 24, the company reported a net loss of 10 cents per diluted share compared to net income of 32 cents per diluted share in the same period of fiscal 2015. The company blamed the decrease on transaction costs related to the acquisition of Ann Inc., which closed during the first quarter fof fiscal 2016. Comps dropped 3% in the first quarter.

Cabela's has confirmed that it is in the process of reviewing strategic alternatives weeks after speculation surfaced that Bass Pro Shops is looking to acquire the retailer.

Cabela's announced Wednesday that its board of directors is initiating a process to explore and evaluate a wide range of strategic alternatives to further enhance shareholder value.

It’s no wonder so many shoppers were not impressed with some of the big holiday deals being offered by big retailers this past week.

Amazon, Walmart, Target, and Jet did not heavily discount most popular products and prices actually increased in key categories after Black Friday, cementing a perception that the two celebrated shopping days are waning in importance, according to research from Boomerang Commerce, which aggregated and analyzed online price discounts and price perception for 1,000 popular products sold by Walmart, Target, Amazon and Jet.

Target Corp. has tentatively reached another milestone in its continuing efforts to remediate financial losses caused by its massive 2013 data breach.