News

Armonk, N.Y. -- IBM said Wednesday it has completed its acquisition of Emptoris Inc., expanding IBM’s cloud-based analytics offerings that provide supply chain intelligence, or smarter commerce.

“Developing the right procurement strategy and an adaptive supply chain are keys to achieving the business objectives of smarter commerce,” said Craig Hayman, general manager, IBM Industry Solutions. “Together, Emptoris and IBM's integrated solutions will transform how clients manage compliance and mitigate supply risk.”

MINNEAPOLIS — Target scored another exclusive album deal, this time with The Fray. The company announced that it is partnering with The Fray on the release of the exclusive deluxe edition of their third album, “Scars and Stories.” The deluxe edition of “Scars and Stories” is available now for pre-order at Target.com and will be offered at Target stores nationwide beginning Feb. 7.

NEW YORK — Macy’s has announced Alberta Ferretti as its latest designer for its Impulse department. The collection encompasses feminine dresses in a variety of lengths, lightweight pants, peasant-style blouses and knitwear, the company said. The limited-edition capsule will be available in approximately 185 Macy’s stores nationwide and on Macys.com beginning April 17.

Washington, D.C. -- Consumers are set to put out all the stops this Valentine’s Day, with the average person shelling out $126.03, up 8.5% over last year, according to NRF’s 2012 Valentine’s Day Consumer Intentions and Actions survey, conducted by BIGinsight. Total spending is expected to reach $17.6 billion.

ITASCA, Ill. — Supervalu-owned Jewel-Osco, has announced that it will celebrate Black History Month this February with its 13th annual “A Taste of Black History” program, a month-long initiative to honor the contributions of Jewel-Osco’s African-American vendors and help them build on their success in the retail food business.

BOCA RATON, Fla. — Office Depot said it has partnered with financial expert Jean Chatzky to offer tips to revitalize small businesses. Additionally, as part of the small business makeover contest, three small businesses will receive a makeover, including a one-on-one financial coaching session with Jean Chatzky.

Philadelphia -- The Pep Boys — Manny, Moe & Jack, has agreed to be taken private by private equity firm The Gores Group for about $791 million. The total transaction, including debt, is valued at about $1 billion.

Under the terms of the buyout, the Los Angeles-based Gores Group will pay Pep Boys shareholders $15 a share, 24% above the closing price on Friday.

SEATTLE — Amazon.com enjoyed tremendous sales growth in the fourth quarter, but it came at a steep price as expenses grew faster than sales due to investments to support future growth.