News

The Wet Seal has appointed Deena Varshavskaya, Nancy Lublin and Adam Rothstein as independent members of the company’s board of directors, bringing the total number of members to nine.

Union, N.J. -- Bed Bath & Beyond Inc. has provided preliminary information on its fiscal fourth quarter 2013, including the impact of adverse weather conditions during the period. The company's same-store sales for the fiscal fourth quarter increased by approximately 1.7% as compared with its previous model of an increase of approximately 2% to 4%.

Issaquah, Wash. – Costco Wholesale Corp. is reportedly attempting to draw in younger customers. According to The Seattle Times, after recently missing quarterly earnings estimates, Costco is taking active steps to attract a younger shopper demographic.

These steps include piloting a same-day delivery service with Google in San Francisco, building up its social and online efforts, and increasing its offerings of organic products such as kale.

Seattle – Amazon.com is reportedly planning to pilot the sale of goods created by 3-D printers. According to the Cincinnati Business Journal, Amazon is partnering with Cincinnati area-based startup 3DLT and four other companies to launch a pilot where Amazon would directly sell 3-D printed products through its website.

Target’s database breach in December 2013 not only affected the retailer’s fourth quarter comparable store sales, but also contributed to plummeting shopper penetration post-holiday.

Kantar Retail ShopperScape data indicates that just 33% of U.S. households reported shopping at Target or SuperTarget during January 2014, the lowest penetration number for Target in the past three years, and a 22% decrease in penetration compared to January 2013.

New Albany, Ohio – Abercrombie & Fitch is reportedly planning to rebrand its Hollister banner as a fast-fashion retailer. According to the Wall Street Journal, this would entail lowering the prices of merchandise and creating a nimbler, U.S.-based supply chain.

Coupons.com has gone public. The digital promotional platform has priced its initial public offering of 10,500,000 shares of common stock at $16 per share, which is above the reported expected range of $12 to $14.

Coupons.com has also granted the underwriters an option to purchase up to an additional 1,575,000 shares. Shares are expected to begin trading on the New York Stock Exchange today under ticker symbol "COUP."

Goldman, Sachs & Co., Allen & Company LLC, BofA Merrill Lynch and RBC Capital Markets LLC are acting as bookrunners.

Boston – Wayfair has raised $157 million in equity financing to fuel continued growth of the company's portfolio of home brands. The Series B investment round, led by funds and accounts managed by T. Rowe Price Associates Inc., encompassed a limited number of key investors, including growth-focused mutual funds, as well as a private investment from Julie M.B. Bradley, TripAdvisor CFO and Wayfair board member.