News

Jeremy Cage was named CEO of the global LED lighting firm Lighting Science Group.

Cage, 48, was selected to lead the company based on his experience in building major brands, his success in developing commercially-appealing technologies and bringing them to market, as well as his distinguished track record of strengthening business models and improving operational efficiencies, according to a statement by Lighting Science Group.

Cage replaces Brad Knight, who served as interim CEO while the board worked with an executive search firm. Knight will continue to serve as COO.

Minneapolis -- Investment firm Joh. A. Benckiser Group agreed to acquire Caribou Coffee Co. for approximately $340 million.

Caribou will continue to be based in Minneapolis and operate under its own brand and management, the companies said in a statement. As of September 30, 2012, the company had 610 coffeehouses, including 202 franchised locations, in 22 states, the District of Columbia and 10 international markets.

North Bergen, N.J. -- The Vitamin Shoppe announced that it has entered into a definitive agreement to purchase the assets of Super Supplements, a specialty retailer of vitamin, mineral and supplements for approximately $50 million.

Super Supplements, headquartered in Seattle, operates 31 stores in Washington, Oregon, and Idaho. The acquisition expands the Vitamin Shoppe's presence in the Pacific

Boca Raton, Fla. -- Office Depot has added PayPal to its selection of online payment options, giving customers a secure way to pay for purchases.   

Using PayPal on the chain’s website simplifies the online checkout process by providing shoppers with a quick and secure option to pay for purchases without sharing financial information, Staples said.

Aaron Brothers has launched its new prototype, opening a store in West Hollywood, Calif. (and another in Woodland Hills). The new format, designed Chute Gerdeman, Columbus, Ohio, is hip, urban and creative, providing an experience that inspires artistic expression. The ambiance is that of an urban artist’s loft, with polished concrete floors, fixtures on industrial-style wheels and hand-hewn qualities.

Purchase, N.Y. -- A SpendingPulse report released Monday by MasterCard Advisors found that after a three-week recovery of retail spending growth that started two weeks after Superstorm Sandy and lasted through the week ending Dec. 1, a slowdown occurred in the week ending Dec. 8.  

After a surge in growth in late November some key sectors such as Specialty Apparel slipped into negative growth in early December, according to the report.

Boston -- A report issued Monday by CEB TowerGroup found that sales of gift cards will surpass $110 billion and spillage will drop 20% to $1.7 billion.

Propelling gift card sales past the $100 billion dollar mark is an increase in open loop gift cards purchases like those offered by American Express, Visa, Mastercard and Discover ($40 billion), restaurant gift cards ($19 billion) and merchant cards ($36 billion).

Reston, Va. -- Survey results released Monday by comScore revealed that the most recent work-week saw four individual days eclipse $1 billion in spending, led by Green Monday with $1.275 billion.

comScore, which has monitored holiday season retail e-commerce spending for the first 44 days of the November–December 2012 holiday season, reported that to date $33.8 billion has been spent online, marking a 13% increase versus the corresponding days last year.

Chicago -- E-commerce and digital marketing company Acquity Group announced Monday social media findings that revealed the vast majority of retailers don’t respond to customer tweets.
 
The 2012 Brand eCommerce Audit evaluated Interbrand's 2012 Best Retail Brands on customer engagement across major digital channels, including big browser, social and mobile.
 

The rapidly changing world of consumer product safety is increasingly fraught with pitfalls for both retailers and manufacturers. The U.S. Consumer Product Safety Improvement Act of 2008 (CPSIA) made several significant changes to the law by instituting more onerous reporting obligations, heavier fines for failing to report, and prohibiting the sale of a recalled product, just to name a few. But the news isn’t all bad.