News

Norwalk, Conn. – Online pricing provider The Priceline Group is digging into the food service market.

Priceline has acquired AS Digital, an Australian provider of restaurant table and reservation management solutions.

London – Natalie Massenet, founder and chairman of U.K.-based online luxury retailer Net-a-Porter, unexpectedly resigned from the company just as it looks to become a global powerhouse.

The former fashion journalist is leaving as Net-a-Porter, which she launched in 2000, prepares to be purchased from Swiss parent company Richemont by Italian e-commerce retailer Yoox. The merger will create the world’s largest luxury e-commerce group.

Philadelphia -- Teen and tween fave Five Below Inc. may not be meeting sales projections, but it remains on track for store expansion, with plans to open a total of 70 net new stores during fiscal 2015, including 16 net new stores in the third quarter.

The company, where every item costs no more than $5, is achieving its profitability targets, but doing so with productivity improvement in its selling space that is surprisingly weak given the newness of its store base.

Woonsocket, R.I. – When consumers have less access to cigarettes, they smoke fewer of them.

This is the basic conclusion of a new report from CVS Health showing that overall cigarette sales fell in 13 states where CVS has more than a 15% market share.

Austin, Texas – Labor Day is supposed to be a day of rest, but consumers are planning to work at shopping for the upcoming Labor Day holiday Sept. 7.

According to a recent RetailMeNot-Kelton survey, two in three (67%) people planning to spend money this Labor Day will spend an average of $144.

In addition, 13% anticipate their Labor Day spend will exceed $200. While 67% of consumers do actually plan to relax at home, one in three intend to visit the mall.

I know what you’re thinking … another article about programmatic. But given the rapid pace of advancements in the programmatic space, we’ve entered a time when advertisers and retailers are forced to reexamine their strategy, take a closer look at what programmatic means to their business, and prioritize the pieces of the puzzle they should be employing to reap the greatest benefits.

Lincolnshire, Ill. – Reports of the store’s demise are greatly exaggerated.

According to the annual Global Shopper Study from mobile solutions provider Zebra Technologies Corp., more than three-quarters (76%) of shoppers feel positive about shopping in stores and nearly one-half think that technology solutions are helping retailers enable and improve their shopping experience.

Target Corp. has a new finance chief and executive VP. Cathy Smith officially joined the discounter on Sept. 1, coming from Express Scripts, the nation’s largest pharmacy benefits manager, where she was also CFO.  

A seasoned retail leader, Smith also held CFO positions at Walmart International, GameStop, and others. Target recently posted a Q&A with Smith on its Bullseye blog. Here are some highlights:

What made you decide to take on this role at Target?

Fast-growing online furnishings retailer Wayfair.com plans to host a “Shark Tank-like” business competition for entrepreneurs.

Winners of the "Kitchen Cabinet" contest will receive a $2,500 home office makeover and a business consultation from the home furnishings and decor e-tailer.

Wayfair said the event will take place Oct. 2 and its Heart Home conference, a three-day gathering of bloggers, designers, and other entrepreneurs, at the Boston Copley Marriott. Participants must enter by Sept. 15.

A rapidly expanding retailer led by a former top Walmart executive is supposed to produce strong same store sales growth, leverage expenses and increase profits. So why isn’t Five Below?

Joel Anderson’s tenure as CEO of value priced retailer Five Below (where everything cost less than $5) is off to an uneven start. The company is achieving its profitability targets, but doing so with productivity improvement in its selling space that is surprisingly weak given the newness of its store base.