News

Wayfair is making it easy for customers to emulate decor trends from one of cable television's most popular series.    Wayfair is collaborating with HGTV home improvement and house flipping series “Brother vs. Brother.” The popular show features siblings Jonathan and Drew Scott competing to see who can make the biggest profit when flipping renovated properties. The Wayfair-HGTV partnership will enable viewers to shop the looks featured on the show directly on Wayfair.  

Chipotle Mexican Grill is coming clean about a cyber-attack that targeted the chain last month.   An extensive investigation lead by leading cyber security firms, law enforcement and the payment card networks revealed that malware accessed payment card data used at point-of-sale (POS) devices at certain Chipotle and Pizzeria Locale restaurants between March 24 and April 18. Not all locations were involved, and the specific timeframes vary by location, according to the chain.  

Amazon’s latest grocery initiative is now up and running for customers.   AmazonFresh Pickup, the online grocer’s drive-by grocery delivery service, allows Amazon Prime members to order groceries online and pick them up in as little as 15 minutes. The concept launched in March, with two locations in Seattle. Initially in a beta mode, the service was available only to Amazon employees. But as of May 25, it is now open also to Amazon prime members in the general public.   

Coach has made it official.   The upscale handbag and accessories retailer launched a formal tender offer to acquire Kate Spade & Company for $18.50 per share in cash. Coach announced its plans to acquire the brand at the beginning of May, in a deal that has a total value of $2.4 billion.   

Starbucks is keeping good on its latest national initiative.    The coffee giant said it will open a store in Dallas, in spring 2018, and Trenton, New Jersey, later this year, as part of its program to invest in at least 15 underserved communities across the U.S. by 2018. To date, Starbucks has opened six similar stores, including in Ferguson, Missouri, central Phoenix, and East Baltimore.  

Big Lots provided an upbeat outlook and posted a strong first quarter, beating profit expectations.    The chain reported income of $51.5 million, or $1.15 per diluted share, for the quarter ended April 29, 2017, which easily beat Wall Street expectations. This compares to $38.7 million, or 79 cents a share, in the year-ago period.  

Staples Inc. has rejected a buyout offer.   The company turned down a takeover offer from Cerberus Capital Management, saying it was too low, Bloomberg reported. However, another private equity firm, Sycamore Partners, is still in the running to acquire Staples.      The bid from Cerberus valued the retailer at more than its current market value of about $5.8 billion, according to Bloomberg.   

Costco Wholesale Corp. came roaring back in its third quarter as it topped analysts' earnings and sales expectations amid strong U.S. sales.