News

In the wake of acquiring Houston-based RediClinic, Rite Aid reported revenues of $6.6 billion for the fourth quarter ended March 1, resulting from a 2.2% lift primarily attributed to an increase in pharmacy same-store sales.

For the full year, Rite Aid reported $25.5 billion in revenues, up 0.5%.

Fremont, Calif. -- In accordance with the terms of its merger agreement with Jos. A. Bank Clothiers Inc., The Men’s Wearhouse has extended its all-cash tender offer for $65 per share for all of the currently outstanding shares of common stock (including associated stock purchase rights) of Jos. A. Bank to April 23, unless further extended.  

It looks like the battle between eBay and investor Carl Icahn is over — for the time being. Icahn is withdrawing his proposal to separate the company’s PayPal business as well as his two nominees to the company’s board of directors.

eBay reportedly reached an agreement with Icahn, ending the proxy contest before the upcoming annual meeting of stockholders.

Atlanta -- Dollar year-over-year volume growth during the month of March 2014 remained positive at 2.1%, but slipped from February’s growth of 2.4%, according to the First Data Corp. SpendTrend report. The report, which analyzes same-store point-of-sale data by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks from nearly four million U.S.

The newest jewel in Amazon’s content crown is leading digital comics provider comiXology.

Amazon reached an agreement to acquire comiXology for an undisclosed sum. The company was founded in 2007 offers an extensive library of digital comic book content from more than 75 top publishers as well as top independent creators. According to Amazon, comiXology revolutionized the digital comics reading experience with its immersive Guided View technology.

Southfield, Mich. -- Kris Abrahamson has been named as VP retail consultancy of shopper marketing agency The Mars Agency. Abrahamson has more than 20 years experience in the consumer packaged goods industry and was most recently the senior director of innovation with PepsiCo's Global Nutrition Group.

As part of the retail consultancy group, she will drive strategic growth initiatives against The Mars Agency's clients' key retailers and lead innovation initiatives that will address evolving shopping behaviors affecting retailers today and in the future.

Average spending per person is forecast to decline this Easter despite pent up demand from a long cold winter, according to new consumer research from the National Retail Federation.