News

By John Mulligan, executive VP and CFO, Target

Xoom, a leading digital money transfer provider, has acquired BlueKite, LTD, a cutting edge technology company that develops applications to improve the way people around the world pay their bills, for approximately $15 million in cash and equity.

Guatemala City-based BlueKite, which currently has 30 employees, caught Xoom’s eye because of its technology platform for cross-border bill payments and mobile phone top-ups. This acquisition will allow Xoom to offer adjacent services to its money transfer offerings.

Cabela’s has appointed Donna M. Milrod to its board of directors.

“Donna is a proven leader and brings a wealth of regulatory, finance, and capital markets experience,” said CEO Tommy Millner. “The board and Cabela’s will greatly benefit from Donna’s insights and knowledge.”

Leading electronics-focused e-retailer Newegg is looking to grow its customer base while keeping existing customers happy with a new customer-benefit program, which offers, in part, complimentary expedited shipping for $49.99 per year.

Central Garden & Pet is already starting to see results in the first quarter ended Dec. 28 from an operational strategy it put in place following a disappointing fourth quarter that yielded “unacceptable” financial results.

Men's Wearhouse has introduced international shipping to online customers in more than 100 countries. The company is promising affordable shipping rates and order totals guaranteed at the time of purchase to the international community.

CVS Caremark claimed the healthcare high ground by discontinuing the sales of tobacco products but the move comes with a steep price as the company said it will lose $2 billion in revenue and experienced a 17 cents a share profits impact.
 

San Francisco-based One Kings Lane, an online destination for the home, has appointed Arun Rajan as chief technology officer.

In his new role, Rajan will lead end-to-end technology delivery, data infrastructure and site operations to support the growth and evolution of One Kings Lane.

Rajan joins alongside chief product officer David Yu, who joined One Kings Lane in mid-2013.

The Home Depot Canada is currently hiring 6,300 employees across all 180 locations to support its busiest season — spring.

"Spring gives us the opportunity to find the best associates, who are passionate about customer service," said Bill Lennie president, the Home Depot Canada. "From Vancouver to St. John's, we are about building meaningful, sustainable careers."

Anheuser-Busch plans to purchase Blue Point Brewing Co., one of the nation's top craft brewers with more than 40 beers and sales concentrated along the East Coast. Terms of the agreement were not disclosed.

Blue Point was founded by Mark Burford and Peter Cotter 15 years ago in Patchogue, N.Y., where the brewery will continue to operate. Anheuser-Busch also plans to invest in the brewery to grow its operational capabilities and enhance the consumer experience in the next few years.