News

San Jose – A new privacy policy which will take effect at PayPal Inc. on July 1 will require users to allow PayPal, its affiliates and service providers to contact them at provided telephone numbers via autodialed or prerecorded call or text message. While the policy prohibits PayPal from sharing user contact information with outside third parties, contracted billing and collection companies are permitted to use customer phone numbers.

San Francisco – Summertime, and the living (and shopping) is easy. Williams-Sonoma Inc. is adhering to this summer ethic by partnering with Visa to launch a co-marketing campaign and four-part video series called “Time to Savor Summer.”  The video series, launched in support of the availability of the Visa Checkout online checkout service on the Williams-Sonoma e-commerce site, will be “shoppable” due to YouTube’s new shoppable video technology.

Oak Brook, Ill. - The Inland Real Estate Group Inc. is naming Prashant Bodhanwala, 48, as chief accounting officer, overseeing accounting, financial strategic planning and financial analyses for Inland. Bodhanwala most recently served as VP of accounting for CA Ventures LLC, a real estate development firm, where he was responsible for all accounting, tax, accounts payable, accounts receivable and payroll.

Gainesville, Fla. - The developer of Celebration Pointe, a 225-acre mixed-used regional development located in Gainesville, Florida, has secured a $125 million construction loan for Phase I of the project.  Celebration Pointe partner Ralph Conti made the announcement.

“We are very pleased to have secured this key piece of our capital stack,” said Celebration Pointe partner Ralph Conti.   

Lawrenceville, N.J. - GS1 US has recognized three companies with GS1 US Apparel and General Merchandise Retail Industry Achievement Awards. The awards, which honor organizations that have implemented GS1 standards to deliver outstanding achievements in innovating the retail supply chain, were presented to the following winning companies in three categories:

• GS1 US Retailer Excellence Award: Macy’s Inc.
• GS1 US Supplier Excellence Award: PVH Corp.
• GS1 US Solution Provider Excellence Award: OpenText|GXS

Dodgeville, Wis. – Profit plummeted in a difficult first quarter of fiscal 2015 for Lands’ End Inc. that also saw sales decline. Cost of sales and other expenses declined at a smaller rate than revenues, leading to net income of $1.72 million, down 84% from $10.86 million the same quarter a year earlier.

Net merchandise sales and services declined 9% to $299.39 million from $330.48 million. Same-store sales dropped 12.1%.

Irving, Texas – Net income at the Michaels Companies Inc. skyrocketed 47% to $67 million in the first quarter of fiscal 2015 compared to $45 million in the same quarter a year earlier. A large drop in interest expense helped fuel strong profit growth.

Net sales climbed 2% to $1.08 billion, from $1.05 billion. Same-store sales rose 0.3%. Michaels said unfavorable weather and a strong U.S. dollar hindered sales growth.

Philadelphia – Five Below Inc. reported healthy profit and sales gains in the first quarter of fiscal 2015 and is planning to open 155 stores in the next two fiscal years. The retailer’s net income totaled $4.28 million, up 39% from $3.08 million a year earlier.

Higher gross profit and the elimination of debt extinguishment loss helped Five Below reach above in net income. Five Below plans to open 70 stores and enter six new states in 2015, and plans 85 openings for 2016.

Bentonville, Ark. - Sam’s Club has improved its Club Pickup buy-online-pickup-in-store service, formerly known as Click ‘n Pull, with new features. Club Pickup allows members to order thousands of items, from paper towels to fresh produce to printer ink, and have them ready for pick up at all U.S. Sam’s Club locations at no additional cost.

Boston - For the third year in a row, Amazon claims the top spot in Reputation Institute’s annual survey of America’s top 50 most reputable companies in the retail industry. Amazon is the only company of all the retail companies surveyed to achieve an excellent reputation.

Supermarket chains moved up in the ranking this year, with Publix ranking second and Whole Foods jumping five spots to third place in 2015.

America’s top 10 companies in the retail industry in 2015 are:

1. Amazon.com