News

New York – Shoppers spent $50.17 billion online during the 2014 back-to-school shopping season, which represents a 16% gain from $43.26 billion in the year-ago period, according to eMarketer. Online commerce during the months of July and August — the main months for back-to-school shopping — accounted for approximately one-sixth of retail ecommerce sales for the year, according to eMarketer estimates, as well as 70.5% of retail ecommerce sales in third quarter 2014.

Mooresville, N.C. - Lowe's Companies Inc. has agreed to sell $450 million of floating rate notes due 2019, $450 million of 3.125% notes due 2024 and $350 million of 4.250% notes due 2044. Estimated net proceeds from this offering will be approximately $1.24 billion, after deducting offering expenses and underwriters' discounts.

CVS Caremark is changing its corporate name to CVS Health to reflect its broader health care commitment and its expertise in driving the innovations needed to shape the future of health.

New Albany, Ohio – Abercrombie & Fitch has reportedly settled a shareholder lawsuit filed in the U.S. District Court of Columbus, Ohio, regarding its pay of CEO Michael Jeffries, who has received more than $140 million in compensation since 2007. According to Reuters, the settlement with City of Plantation Police Officers' Employees' Retirement System involves no payment to the plaintiff.

Nashville, Tenn. - Asurion Retail Solutions has rolled out Solution Hub, an online platform providing consumers transparency and control of the post-purchase service experience. Solution Hub, customizable to reflect retail brands, offers consumers an end-to-end solution for filing claims, scheduling in-home repairs, and choosing the best fulfillment option for certain product categories.

Kohl’s and AwesomenessTV have teamed up to launch S.o. R.a.d., a seven capsule limited-edition junior’s fashion line and Life’s S.o. R.a.d., an original four season YouTube series featuring top teen influencers.

The first S.o. R.a.d. junior’s capsule will launch at Kohl’s and Kohls.com Sept. 22.

Ventura, Calif. – Outdoor apparel retailer Patagonia has been awarded the Supply Chain Innovation Award from supply chain management technology provider GT Nexus for continued efforts in creating a responsible supply chain. The Supply Chain Innovation Award recognizes Patagonia's commitment to partnering with its suppliers as it improves supply chain processes.