News

Ad targeting firm Cardlytics said its secured an additional $70 million in funding led by Discovery Capital.

Cardlytics, an advertising and technology company regarded as a leader in card-linked marketing, said the new $70 million funding round brings its total venture capital funding to more than $170 million. Cardlytics intends to use the funds to continue to extend and expand the breadth of the company’s capabilities to make all marketing more relevant and measurable. Morgan Stanley acted as adviser on the deal.

Office Depot, Inc. is continuing its holiday initiatives.  The merchant, formed by the merger of Office Depot and OfficeMax, has announced its “Your Holiday Workshop” campaign being kicked off across all store locations and online on Nov. 2. 

To address the volume of early shoppers, Office Depot and OfficeMax will unveil exclusive daily and weekly product deals from its most popular shopping categories including technology, printers, and furniture alongside other business and home office supplies.

America’s most affluent prefer Nordstrom’s brand of omnichannel retail over some of the biggest luxury retailers out there, according to a new study.

An organization called the Luxury Institute released findings from its 2015 Luxury Multichannel Engagement Index (LMEI) survey of large multi-brand retailers. Responders had a minimum annual income of $150,000, an average annual income of $318,000 and an average net worth of $3.1 million.

Blue Nile, the original online jeweler, has added a couple of gems to its roster with Sloane Street and Lisa Jenks joining the ranks of the Blue Nile Designer Collective.

Beijing, China –- Alibaba Group Holding Ltd. and Apple Inc. are reportedly considering partnering on digital payment. According to the Wall street Journal, Alibaba executive chairman Jack Ma and Apple CEO Tim Cook have both made separate public statements about partnering, with Ma more specifically citing digital payment, and plan to meet on the matter.  

Bentonville, Ark. –- Wal-Mart Stores Inc., which launched a video game trade-in program in March 2014, is now building on the program by offering used video games for sale in 1,700 stores. These games will be sold in their own section or alongside other value titles.  

New York –- Organizational efficiency costs and charges related to store closures and upgrades that are part of an ongoing transformation plan negatively impacted net income reported by Coach Inc. during the third quarter of fiscal 2014. Net income totaled $146 million, down 33% from $218 million in the same quarter the previous fiscal year.  

New York -- As the holiday season approaches, shoppers are apprehensive about the rise in credit card breaches at major retailers and adjusting their shopping behavior accordingly. According to a new survey from TheStreet conducted by GfK, two-thirds of them are concerned that their credit card and personal information will be stolen whether they shop online or in stores.  

Cleveland, Ohio –- The Sherwin-Williams Company had a strong third quarter of fiscal 2014, with net income growing 24% to $326.24 million from $262.97 million in the same period a year earlier. Net sales climbed 10% to $3.15 billion from $2.85 billion.  

St. Louis -- Build-A-Bear Workshop is opening a new store location in the Brill Building in Times Square in New York City on Tuesday, Oct. 28. This seasonal pop-up shop offers an assortment of proprietary products, licensed properties and New York City-themed merchandise.