News

Philadelphia – Urban Outfitters Inc. missed Wall Street expectations for net income, sales and same-store sales during the first quarter of fiscal 2015. Net income fell 12% to $32.78 millio,n from $37.48 million the same quarter a year earlier.

Lower margins and higher delivery and fulfillment expense helped drive down net income. Sales reached a record high of $739 million, up 8% from $686.31 million, but still fell short of Wall Street expectations. Same-store sales rose 4%.

Boston – 7-Eleven Inc. has as agreed to acquire Tedeschi Food Shops Inc.'s approximately 182 convenience stores in the greater Boston area and in New Hampshire. The transaction is anticipated to close in mid-2015, subject to standard closing conditions and regulatory approvals.  

Terms of the deal were not disclosed. 7-Eleven expects to extend job offers to most Tedeschi Food Shops employees who are affected by this acquisition. Currently, 7-Eleven operates and franchises 164 stores in the greater Boston area and New Hampshire.

Boca Raton, Fla. – Office Depot is seeking a shareholder vote on its proposed $6.3 billion merger with Staples Inc. at its annual meeting on June 19. According to a statement filed with the Securities and Exchange Commission (SEC), Office Depot is requesting that shareholders approve the proposed acquisition by Staples.

In addition to approval by Office Depot shareholders, the agreement also needs to be approved by the Federal Trade Commission (FTC). With all approvals in place, the deal would finalize by the end of 2015.

Valhalla, N.Y. – Footwear brand Candie’s Inc., which is exclusively sold through Kohl’s in the U.S., is reportedly focusing on Instagram as a key platform for its spring/summer marketing campaign. According to MediaPost, Candies will post images of fashion blogger Shea Marie on Instagram.

Framingham, Mass. - Staples Inc. has selected The NPD Group, Inc. as its data services provider for market sizing, share measurement, and vendor collaboration for the office supplies and technology industries. The service tracks sales through retail, e-commerce, and commercial channels.

Deerfield, Ill. – Walgreens provides localized offerings in its new and remodeled store formats. To support this effort, Walgreens has implemented JDA Software’s Category Management solution.

Walgreens can now analyze the existing performance of a planogram, using the data to answer key questions about why a category is behaving in a certain way. Planogram data is shared into all parts of the organization, including but not limited to the e-commerce, pricing, markdown, and operations teams.

Camp Hill, Pa. - Rite Aid Corp. has launched a new integrated marketing campaign in support of its wellness+ loyalty program with the new Plenti coalition program from American Express. As a part of Plenti, The new campaign features a 30-second TV spot and includes direct mail, in-store signage, circular and multi-platform digital activation with six online videos, email, search, display, pre-roll and social media strategies.

New York - BGC Partners Inc., a global brokerage company servicing the financial and real estate markets, has entered into an agreement to acquire Excess Space Retail Services Inc. Excess Space is a premier provider of real estate disposition, lease restructuring and lease renewal services, as well as related valuations for retailers nationwide and currently advises on 35.6 million-sq.-ft. of retail space in North America.

Mountain View, Calif. – Google Inc. is reportedly planning to start providing users with “Buy” buttons in their search results within the next few weeks. According to the Wall Street Journal, Google will initially offer the buttons on mobile search results.