News

Mother’s Day spend to grow 2%
New York – Consumers might be a little nicer to Mom this year than last year. IBISWorld expects total Mother’s Day spending to reach $20.8 billion, representing an increase of 2% from 2014 spending, and an annualized increase of 6.5% since 2010.

Average household spending on Mother’s Day is also set to grow, with the standard family shelling out an estimated $169.21, representing a 4% increase from the 2014 average.
1-800-Flowers.com net loss grows in Q3
Carle Place, N.Y. – Net loss at 1-800-Flowers.com Inc. grew to $10.81 million in the third quarter of fiscal 2015 from $1.74 million in the same quarter the prior year. Higher operating expenses in areas including marketing and sales and technology and development helped boost net loss.

Report: Target’s Cornell paid $28 million in 2014

Minneapolis – Brian Cornell, CEO of Target Corp., reportedly received total compensation of $28.2 million in 2014. According to the Wall Street Journal, that figure includes $14 million in “make-whole” compensation he was paid for leaving his previous position as CEO of PepsiCo in August 2014.

Cornell also received a prorated salary of $595,000 from Target, among other compensation.
Petco expands Instacart availability

San Diego - After a successful pilot in Boston and San Francisco, Petco is expanding its partnership with Instacart. Beginning April 28, customers in 14 metro areas served by Instacart can order from Petco stores and have everything delivered in as little as one hour.

Instacart currently serves 15 metro areas: Atlanta, Austin, Boulder, Boston, Chicago, Denver, Houston, Los Angeles, New York City, Philadelphia, Portland (OR), San Francisco, San Jose, Seattle and Washington, D.C. The company plans to add several more cities before the end of 2015.
Grotto Pizza rewards all customers with Paytronix

Rehoboth Beach, Del. - Grotto Pizza has leveraged the Paytronix Rewards Platform to implement a multi-tiered loyalty program that enables the chain to reward year-round diners without heavily discounting seasonal guests. In particular, the “Winter Wednesday” promotion has enabled Grotto Pizza to increase off-season traffic on what was its slowest day of the week by 84%.
Container Store Q4 profit drops; will open nine new stores

Coppell, Texas – Higher selling, general and administrative (SG&A expenses) helped drive down net income at The Container Store Inc. during the fourth quarter of fiscal 2014, and the retailer expects open nine new stores and relocate one store during fiscal 2015. The Container Store reported net income of $13 million, down 29% from $18.3 million in the same quarter the prior year.

Net sales totaled $224.26 million, up 3% from $216.82 million. Same-store sales dropped 0.8%.
Children’s Place activist investors urge new board members

New York - Shareholders for Change at The Children's Place, an activist investor group led by Macellum Advisors GP LLC and Barington Capital Group L.P., has filed a detailed investor presentation with the Securities and Exchange Commission ("SEC"). The presentation supports the election of two board of directors nominees, Seth R. Johnson and Robert L. Mettler, at the upcoming 2015 annual meeting.
MCX founder Best Buy will accept Apple Pay in stores

Minneapolis – Best Buy Co. Inc., a founder of the MCX retailer consortium that is developing a mobile payment system called CurrentC, will accept Apple Pay in stores starting later in 2015. Apple announced Best Buy’s planned participation in Apple Pay during a call with investors.
Rent-A-Center reports stable Q1 profit

Plano, Texas – Rent-A-Center Inc. reported stable profit during the first quarter of fiscal 2015. The retailer’s net income totaled $27.3 million, up 1% from $27.26 million in the same quarter a year earlier.

Consolidated total revenues climbed 6% to $877.64 million, from $828.47 million. Same-store sales rose 8%.
It’s nothing but ‘Star Wars’ at Toys ‘R’ Us

Wayne, N.J. – If Darth Vader scared you, then you’ll probably want to check out the new online “Star War”s hub that Toys “R” Us Inc. is launching as part of a year-long omnichannel promotion tied to the classic movie franchise, which returns with a new film in December. The hub will showcase video content, event information and more in the coming months.
MasterCard buys cloud analytics firm Applied Predictive Technologies

Purchase, N.Y. - MasterCard will acquire cloud-based analytics provider Applied Predictive Technologies (APT) for $600 million.

APT’s Test & Learn platform enables users to apply analytics to design, measure and calibrate marketing, merchandising, operations and capital initiatives.
Crumpler unpacks improved store management with Raymark

Melbourne, Australia – Vertical Australian luggage retailer Crumpler has selected Raymark's cloud-based store management software suite for deployment in its stores worldwide. The software initiative is aimed at supporting Crumpler's international growth, improving the omnichannel customer experience and modernizing IT operations.