News

Denver -- Chipotle Mexican Grill said it will hike prices for the first time in three years, saying that customer loyalty will insulate the chain from pricing fallout.

New menu boards reflecting the 3%-5% higher prices will be in place at all restaurants by this summer, said Chipotle.

Deerfield, Ill. -- The rapid adoption of Walgreens’ Balance Rewards loyalty program, with nearly 80 million members, has earned the chain a ranking among top business technology innovators in the U.S.

Walgreens is ranked No. 60 on the 2014 InformationWeek Elite 100.

 San Mateo, Calif. – Social media monitoring and management software provider Viralheat is adding integration with the Salesforce Desk.com customer support app to its analytics platform. Viralheat is designed to allow businesses to perform all of their social content needs within a single social management platform.

Bethesda, Md. – Enterprise mobile and Big Data solutions and services vendor Digital Management Inc. (DMI) has acquired KnowledgePath, a provider of mobile and omni-channel commerce solutions. With the addition of KnowledgePath, DMI offers an integrated solution set for enterprise mobility, Big Data, mobile and e-commerce.

Those looking to understand how the retail industry will perform in the second quarter and beyond can gain an interesting perspective from the outlook shared by one of the world’s largest diversified packaging companies.

MasterCard is in the process of acquiring Pinpoint Pty. Ltd., an Australian provider of loyalty and rewards services to financial institutions across the Asia Pacific region. The transaction is expected to close in the second quarter of 2014.

Pinpoint was founded in 1984. Headquartered in Sydney, it has a growing footprint across the region into markets such as China, Hong Kong, India, Taiwan and Japan. Its customer base includes financial institutions and merchants.

Tractor Supply this week promoted Lee Downing to EVP, store operations. In conjunction with his promotion, Downing will assume added leadership responsibilities for the company's real estate team.

Downing will also be responsible for the strategic new store site selection, facilitation of store openings and ongoing maintenance, in addition to other real estate functions. He joined Tractor Supply October 2010 as SVP, store operations.

Foot Locker has named Sheilagh M. Clarke as SVP, general counsel and secretary, effective June 1. She succeeds Gary M. Bahler, who is retiring on that date.

Clarke is currently VP, associate general counsel and assistant secretary of Foot Locker. She joined Foot Locker in 1988, and since that time has held a number of positions in the company's legal department. She is a graduate of Monmouth University and Seton Hall Law School.

Bahler, who joined the company in 1980, has been a SVP since 1998, general counsel since 1993, and secretary since 1990.

Nike has elected Michelle A. Peluso to the company’s board of directors. Peluso is CEO of Gilt, an online shopping destination offering its members top designer labels at up to 60% off retail.

Around the globe, sellers from country A who promote their products as “Made in country A” are quick to point out that country A products are known for their quality, even by buyers from country C.