News

MasterCard, Visa team up to drive secure digital payments
Looking to make digital transactions safer, two credit card network powerhouses are joining forces to tokenize shoppers’ payment card credentials.
The CFO’s Expanded Role in Profitably Managing the Retail Transformation
With the retail environment undergoing the most complex changes in our generation, the sustainability of the current retail economic model is in question. Historically, retail CFO’s, as the principal financial oficers, were primarily responsible for more traditional finance, treasury, regulatory, information delivery and related functions.

Whole Foods Market hit with class-action suit over employee bonuses

One current and one former employee of Whole Foods Market have filed a federal class-action lawsuit against the grocer.
Unusual retail concept puts new spin on tech retailing

A very tech-savvy retailer retail is expanding its fledgling physical footprint with an eye toward national expansion. b8ta, which lets people test out products from a variety of tech companies, including many small start-up, has opened a store at University Village, Seattle, along with one at Santa Monica Place, Santa Monica, Calif. Both locations were designed by Gensler, and feature a sleek, modern design.
Happy Holidays from CSA

Chain Store Age will be closed Dec. 23 and Dec. 26, and will publish again on Monday, Dec. 27. We wish you and your families best wishes for a happy, healthy and joyous holiday.
Walgreens acquisition of Rite Aid expected to close in early 2017

Walgreens Boots Alliance’s acquisition of Rite Aid took a big step forward with announcement of the divestiture of 865 Rite Aid stores to Fred’s Pharmacy for $950 million.
Freeman sells mall it’s held since 1968

After nearly 50 years of ownership, the Carl M. Freeman Companies has sold the Cabin John Shopping Center and Mall in Potomac, Maryland, to Edens for $165 million. Freeman parted with a property that it built in 1968 in order to amass capital for other projects, according to CEO Michelle Freeman, who assumed the helm of the company after her husband, Josh, perished in a helicopter crash.
Specialty outdoor retailer in new sustainability milestone

REI continues its efforts to lead on sustainable operations. The retailer’s newest distribution center, in Goodyear, Arizona, has achieved LEED (Leadership in Energy & Environmental Design) Platinum certification — the highest level in the U.S. Green Building Council’s green building rating system — making it the first DC in the U.S. to achieve both LEED Platinum certification and Net Zero Energy.
Retail brands lag behind mobile consumer expectations

The future of retail is mobile. Yet, brands are failing to keep pace with consumer expectations.
Analysis: The Finish Line stumbles

While Finish Line notched up reasonable overall sales growth in its third quarter, this has been overshadowed by both very weak comparables and an almost doubling of net losses to $40.4 million. Overall, the results are markedly worse than last quarter when total sales grew by 5.4%, aided by a 5.1% growth in comparables.