News

EBay plans promoted listings service
San Jose, Calif. – EBay Inc. is planning to roll out a service called Promoted Listings that will let sellers pay a percentage of sales resulting from listings that receive special promotion on the site. Sellers can agree to pay a higher percentage of sales to receive better placement of ads, although popularity of promoted items and seller reputation will also be considered in placement.
Dick’s wins logistics award at Momentum event
Shoppers like spending money with Dick’s Sporting Goods and the companies that transport goods to its stores and distribution centers think the retailer is pretty special too.

Ex-Kmart exec prepares to do dollar store duty

The chairman of the board at 99 Cents Only Stores has assumed the role of CEO and president effective immediately.

Andrew Giancamilli will become the new interim president and CEO, replacing Stéphane Gonthier.
Hot Topic buying online retailer Geeknet for $122 million

Los Angeles -- Specialty teen retailer Hot Topic is acquiring Geeknet, parent company of online retailers ThinkGeek and ThinkGeek Solutions, for approximately $122 million, which is more than double the company’s market value.

ThinkGeek sells a wide range of merchandise, including clothing, toys, and gadgets mostly based on popular movies, television shows and brands that have strong "geek" appeal, such as "Star Trek," ''The Big Bang Theory," and ''Star Wars."
PetSmart launches pet-friendly wedding collection

Weddings are becoming increasingly pet-friendly, and a new collection from Martha Stewart and PetSmart aims to leverage that trend.

The pet products retailer has announced it will be teaming up with Martha Stewart Pets on a wedding collection for dogs.
Aeropostale shrinks net loss in Q1 amid cost reductions; sales decline 19%

New York — Aeropostale Inc. managed to shrink its net loss in the first quarter of fiscal 2015, even as sales declined. The mall-based specialty retailer reported a net loss of $45.27 million, down from $76.78 million, amid reductions in selling, general and administrative expenses (SG&A) and restructuring charges helped cut net loss.
Net sales dropped 19% to $318.6 million from $395.9 million. Same-store sales, including e-commerce, fell 11%.
Millennials: The new retail standard bearer

A new wave of consumers is quickly becoming the most powerful economic force in retail, and it is causing retailers to refine plans on how to meet the needs of this new generation.

While some retailers may see Millennials as a unique group that forces massive change, GameStop sees them as well-informed, independent consumers who are causing us to rise to an even higher level of service.
Net loss grows at New York & Co. in Q1, will alter store count

New York – Increases in selling, general and administrative (SG&A) expenses and interest expenses helped increase net loss at New York & Co. to $4.7 million in the first quarter of fiscal 2015 from $300,000 the same period a year earlier. The growing loss occurred as sales improved 2% to $223.4 million from $219.6 million, and same-store sales rose 1.8%.
MasterCard, Target data breach settlement falls through

New York - The proposed $19 million deal between Target Corp. and MasterCard stemming from the retailer's 2013 data breach has fallen apart after it failed to get the support of 90% of the banks affected by the breach, the Minneapolis StarTribune reported. Click here for the full story.
Foot Locker reports 'most profitable quarter ever'

Foot Locker has "hit the ground running in 2015," according to CEO Richard Johnson, adding that the company posted a better-than-expected 14% increase in profit in its first quarter as the sportswear retailer continues to benefit from sales growth.