News

Walgreens said stronger sales from established stores helped it trump analyst expectations for the first quarter, even as the company's acquisition of European retailer Alliance Boots remains on track to close this month.

Walgreens reported a 16.4% lift in quarterly profit to $809 million that was credited to the 222 million prescriptions filled for the first quarter ended Nov. 30. 

San Francisco – Although the mobile payment partnership that Starbucks and Square launched in 2012 will soon be ending, Square is reportedly still actively working with Starbucks. According to the San Francisco Business Journal, Square is publicly informing its users that Starbucks is using Square technology to process payments at 7,000 stores.  

Minneapolis – Appliance Recycling Centers of America Inc. (ARCA) has named Jeffery Ostapeic as the company's CFO. Ostapeic is a certified public accountant and served most recently as an audit partner with Grant Thornton LLP, an international accounting firm.   

Embattled retailer American Apparel Inc. is restructuring its board amid rumors that the company is evaluating an offer to sell itself at a hefty premium.

The company, which recently ousted its chief executive and founder Dov Charney, announced that Allan Mayer and David Danziger have stepped down as co-chairmen of the board and will be replaced by board member Colleen B. Brown as chairperson. Mayer and Danziger will continue to serve as members of the board and will retain their positions as chairs of the compensation and audit committees, respectively.

By Fabrizio Brasca, JDA Software  

Time and again in 2014 the vulnerability of retailers’ information systems became apparent with Staples the latest major chain forced to admit an inability to protect customers’ personal information.

Now Staples has released more information about its data breach in September.

New York - Executives from The Home Depot, Warby Parker and Chico’s will receive top honors at the National Retail Federation’s annual covention (the Big Show) in New York.   Frank Blake, former Home Depot CEO and current chairman, will receive NRF’s Gold Medal Award. Clicks-to-bricks eyewear retailer Warby Parker will receive the Retail Innovator of the Year Award,  with company co-founders and co-CEOs David Gilboa and Neil Blumenthal accepting the award.   

Calvin Klein is aggressively expanding its e-commerce capabilities in an effort to directly sell the brand in more than 20 countries by the end of 2016, the company announced.