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Desktop-based e-commerce spending up 12%
Reston, Va. -- A report by comScore showed that, in the first quarter, desktop-based e-commerce rose 12% year-over-year to $56.1 billion, marking the 18th consecutive quarter of positive year-over-year growth and 14th consecutive quarter of double-digit growth.
M-commerce spending on smartphones and tablets added $7.3 billion for the quarter, up 23%, for a digital commerce spending total of $63.4 billion in the first quarter.
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Abercrombie CEO pay drops 72% on falling profits
New Albany, Ohio -- Abercrombie & Fitch Co. CEO Michael Jeffries saw his pay shrink 72% in 2013, according to a filing by the company on Tuesday.
The teen retailer has recorded declining sales and profits, and Jeffries has come under fire. His total compensation last year was $2.24 million, down from $8.16 million in the previous year and $48.1 million in Abercrombie’s fiscal 2011. He was paid more than $20 million a year in the three years before that, according to the report.