News

Retail sales fall more than forecast in January
New York -- Retail sales fell 0.8% in January, more than forecast, amid smaller receipts at gas stations due to plummeting fuel costs and declines at apparel and sporting goods stores, according to the U.S. Commerce Department. It was the second straight month of decline, suggesting consumers still remain cautious when it comes to spending. Sales excluding automobiles, gasoline, building materials and food services edged up 0.1%, also less than forecast, after being flat in December.
NRF urges D.C. to act on ports
As the Pacific Maritime Association prepares to shut down U.S. West Coast ports from Feb. 13-16, the National Retail Federation (NRF) is issuing a public statement asking for direct White House intervention.

Best Buy launches online wedding registry

Minneapolis – Technology lovers who fall in love have a new online wedding registry option. On Feb. 16, Best Buy Co. Inc. will launch the Best Buy Wedding Registry.

Couples can create and manage their registry online or through the Best Buy mobile app. By early April, in-store kiosks in all Best Buy locations will help registrants and gift-givers view and print wedding registry lists. Couples will also have the option of syncing their registry with MyRegistry.com and TheKnot.com.
Staples targets small business customers

Staples is trying to attract more small business customers with a new service at the copy and print center.

Staples Design Services can help small business customers bring their brands to life, from concept to creation, with professionally designed logos and marketing materials.
Report: Sycamore pursues $3 billion Chico’s deal

Fort Myers, Fla. – Chico’s FAS Inc. may be the next big-name retailer to undergo an acquisition. Private equity firm Sycamore Partners is reportedly pursuing a $3 billion acquisition of the specialty women’s apparel retailer.

According to Reuters, Sycamore already has an agreement in principle to acquire Chico’s, contingent upon obtaining financing. However, Sycamore may be having difficulty finding a bank or banks willing to allow as much debt as the company is looking for.
DDR Corp. elevates CFO to CEO job

DDR Corp.'s board of directors has promoted David Oakes to the chief executive officer post.

Oakes, the company's president and chief financial officer, fills a seat left empty by Daniel Hurwitz, who stepped down as CEO in December.

"After a thorough and robust search process, the board is confident that David is the right person to lead DDR into the future," Terry Ahern, the company's chairman, said. "I also want to thank the team for the terrific job that they have done while the board conducted the search process."
Study: Product info prompts channel choice

Chicago – We live in an age of information, and consumers are valuing access to product information more than ever. According to a new study of 1,000 brands and retailers from PowerReviews, more than half (57%) of online shoppers reported specifically seeking out websites with product reviews.
Rite Aid to acquire EnvisionRX for $2B

Rite Aid is set to acquire leading independent pharmacy benefit manager Envision Pharmaceutical in a deal valued at $2 billion.
Whole Foods Q1 profit tops forecasts as sales accelerate

Austin, Texas -- Whole Foods Market's value message is resonating with shoppers as the chain delivered same store sales growth of 4.5% and record first quarter profits as net income increased to $167 million from $158 million.

The retailer said sales for its first quarter ended Jan. 18 increased 10% to $4.67 billion due to the addition of new selling space and the increased productivity of existing stores reflected in the 4.5% comp increase, which pushed sales per square foot to $990.
TGI Fridays names two digital marketing agencies

Carrollton, Texas - In a move designed to offer its guests a more enhanced, robust and personalized experience both inside and outside of the restaurant, TGI Fridays has selected two new agencies – Made Movement (Made) and Meredith Xcelerated Marketing (MXM) – to manage all future digital marketing, e-mail and technology campaigns.