News

Family Dollar looks to cloud to drive growth

Family Dollar Stores Inc. has inked a deal with a cloud management firm to improve its operational efficiency and cost competitiveness.
Survey: Smartphone shopping trails smartphone use
Denver – Smartphone use continues to rise, with 71% of all consumers and 85% of Millennials owning a smartphone. However, Placeable recently surveyed 1,000 U.S. consumers and found that 42% have never purchased anything on their mobile phones, and more than nine out of 10 consumers don’t use mobile payments when they’re available.

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."
West Coast ports to shut down for four days over upcoming weekend

New York -- Shipping operations will be suspended at U.S. West Coast ports over the coming long weekend, the Pacific Maritime Association announced Wednesday. The planned shut down comes amid stalled labor talks between the companies and the union representing 20,000 dockworkers.
Rite Aid acquires PBM for $2 billion

CAMP HILL, Pa. — Rite Aid is set to acquire the leading independent pharmacy benefit manager Envision Pharmaceutical in a deal valued at $2 billion, the retailer announced Wednesday. Rite Aid shares were up more than 8% in pre-market trading on the news.
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.
Finish Line runs omnichannel NBA All-Star promotion

Indianapolis - The Finish Line Inc. is running an omnichannel promotion linked to the upcoming pro basketball all-star weekend in New York City. Finish Line collaborated with Under Armour, pro basketball star Stephen Curry and several key influencers within the basketball marketplace to host a contest surrounding the new Curry 1 product launch on Feb. 13.
Report: Wal-Mart pilots online grocery service in Phoenix market

Bentonville, Ark. – Phoenix area consumers have a new option for online grocery shopping, at least for now. According to the Phoenix Business Journal, Wal-Mart is piloting an online grocery service in and around Phoenix.
Belk names omnichannel exec top techie

Scott Kessler has been named chief information officer at Belk less than a year after joining the regional department store operator as its top omnichannel executive. Kessler, who will report to John R. Belk, president and chief operating officer, has served as Belk’s senior vice president of omnichannel solutions delivery since March of 2014.
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.