News

New York -- PayPal, a division of eBay Inc. has acquired mobile app developer StackMobile. Experts say the purchase could strengthen eBay and subsidiary PayPal in enabling consumers to pay with mobile devices.

Terms of the deal were not disclosed.

StackMob launched in 2010 and offers a platform and development environment that lets developers build applications for any mobile device

Ikea plans to launch an employee loyalty program launch in the new year. Beginning in 2014, every employee worldwide will receive an equal contribution to their pension plan, based on the company's financial goals being met.

The program named Tack! — which means ‘thank you’ in Swedish — was inspired by Ikea founder Ingvar Kamprad's wish to “share the success of the Ikea Group with all employees.”

Fort Myers, Fla. – Chico’s FAS repurchased approximately 6.7 million shares of its common stock, for approximately $125 million, during the fourth quarter of fiscal 2013, completing all but $55 million of its existing share repurchase authorization. The Chico’s board of directors has cancelled the remainder of its March 2013 share repurchase program and approved a new $300 million share repurchase authorization for the company's common stock.

Pier 1 is touting the progress it’s made with its 1 Pier 1 omnichannel strategy, following financial results for the third quarter. Pier1.com continued to outperform the company’s expectations with increases in traffic and conversion, and representing more than 4% of total sales in the quarter.

Port Washington, N.Y. -- In the week following Thanksgiving 2013 (Dec. 1 – Dec. 7, 2013), sales of mailing and shipping products were up 13% to $13.3 million, compared the previous year (Nov. 25 – Dec. 1, 2012). In addition, new analysis from The NPD Group indicates that within shipping and mailing categories, wrapping sales were up 52%, mailer sales rose 17% and packing tape sales grew 14%.

By channel, mailing and shipping product sales rose 14% in the brick-and-mortar channel compared to the same period a year earlier and 3% online.

Brown Shoe Company-brand Sam Edelman, in partnership with leading apparel manufacturer Kellwood Company, has appointed Leslie Singer as president of Sam Edelman Apparel, a new division within Kellwood.

Singer joins Kellwood from NYDJ, where she lead sales and merchandising for women’s sportswear. Her responsibilities spanned all channels of distribution, including department stores, specialty stores and direct business outlets, such as Zappos and Amazon. Under her leadership, the company saw double-digit growth for more than three years.

Los Angeles – Beauty, cosmetics and fragrance stores should experience 2.7% growth in sales to $13.1 billion during 2013. Industry revenue is expected to grow at an average annual rate of 0.8% from 2008 to 2013, according to business intelligence firm IbisWorld.

North America’s largest chocolate producer has acquired an 80% ownership interest in the manufacturer of China’s popular Golden Monkey confectionary and snacks brand.