News

New York -- Record levels of engagement helped Facebook grow revenue in its fourth quarter, ended December 31, by 63% to nearly $2.59 billion. Full year revenues advanced 55% to nearly $7.9 billion.

Net income increased 116% to $1.13 billion, from $523 million, or three cents a share.

In celebration of seven straight years winning "Highest in Customer Satisfaction with Home Improvement Retail Stores" in the J.D. Power Home Improvement Retailer Satisfaction Study, Ace Hardware is kicking off its first-ever J.D. Power Award Neighborhood Tour across the country.

President Obama in his State of the Union address last night said he plans to sign an executive order increasing the federal minimum wage from $7.25 to $10.10 per hour for workers on new government contracts and asked Congress to approve the same increase for all workers — and the National Retail Federation is not happy.

NRF president and CEO Matthew Shay issued a response ahead of the president’s address.

London – Online luxury retailer Avenue 32 has launched a mobile and tablet strategy allowing designers to showcase their collections to the public without having to invest in their own online presence. Since its launch, mobile traffic has more than doubled and average transaction value has increased 270%.

Working in partnership with Usablenet, Avenue 32 provides seamless and customized experiences for both mobile and tablet; the mobile site provides a task-based experience whereas the tablet site is focused around browsing and discovery.

Issaquah, Wash. -- Online meal planning service eMeals has debuted a new Costco Classic Family Plan that delivers 14 Costco-focused dinner menus to a customer’s smartphone or computer inbox every two weeks. Designed to take full advantage of Costco promotions and volume packaging, each installment includes family-friendly entree and side-dish recipes, plus a complete grocery list for all 14 days that is organized by Costco aisle for speedy shopping.

Plano, Texas – J.C. Penney Co. is amending its stockholder rights plan as part of move to protect its ability to use certain funds that can be used for tax benefits.

Penney said its shareholder rights plan can now be put into effect if an individual or group acquires 4.9% or more of its outstanding stock, down from its previous 10%.

ShopAdvisor, is a mobile service that reminds consumers of the things they want to buy later on, has named Peter O’Kelly as chief data officer. He will lead the company’s efforts to turn its collection of intent and affinity shopping data into offerings for media providers, marketers and retailers.

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