News

Lowe's outlined its progress in meeting its sustainability objectives in its 2014 Social Responsibility Report.

Former Safeway and Supervalu executive Anne Dament has been named senior vice president of merchandising at Target to lead what the company is calling the strategic repositioning of its food business.

Best Buy President and Chief Executive Officer Hubert Joly has added the title of Chairman to his responsibilities at the retailer after long time board member Hatim Tyabji and several others decided to step down.

New York -- Amazon’s drone testing program has received a new approval from federal regulators.

In March, the Federal Aviation Administration gave the online giant the oaky to fly drones in research for potential deliveries. But the approval came six months after Amazon had filed the request, and, during that time, the model in question had gone out of date. Amazon submitted a new request for an updated model, and the request was approved in less than a month, Reuters reported.

New York -- General Electric Company on Friday announced it will sell or spin off the majority of its $500 billion GE Capital finance business over the next two years as it looks to simplify and concentrate on its industrial roots. The company said it will keep its aircraft leasing operation and smaller lending lines.

GE said it has sold its real-estate assets, which include commercial loans and office buildings, for $26.5 billion, with  Wells Fargo & Co. and private equity firm Blackstone Group buying the bulk of it.

AT&T has opened one of its largest stores yet, a 9,000-sq. ft. location on Boylston Street in Boston.

The store, which is just a few steps away from the finish line of the Boston Marathon, sets itself apart with an all-glass front and space that spans two floors. A Boston flavor is prevalent throughout the space, starting with an oversized Boston Marathon-themed mural.

San Jose, Calif. – EBay and PayPal are clarifying how they will operate the first five years after their planed split into two public companies in the second half of 2015. PayPal Holdings filed an updated Form 10 with the Securities and Exchange Commission (SEC) laying out an operating agreement that maintains ties between the two companies while also ensuring they remain independent.

San Francisco – Strong same-store sales growth at Old Navy helped drive a 1% increase in net sales at Gap Inc. to $1.53 billion in March 2015, compared with net sales of $1.51 billion for the same month the previous year.

Gap Inc.’s overall same-store sales were up 2%. The company said that the earlier timing of the Easter holiday peak shopping weeks in 2015 benefited March sales results and will likely negatively impact its April sales results.

San Jose, Calif. – Despite declining store traffic during March 2015, retailers benefited from increased sales per shopper (SPS), average transaction value (ATV) and conversion rates. According to the March 2015 RetailNext Retail Performance Pulse, SPS grew 5.8% compared to the same month a year earlier, perhaps reflecting pent-up consumer demand after a difficult winter.

In addition, ATV grew 3.5% and conversions increased 0.9%, further suggesting consumers who visited stores were looking to make purchases. Returns stayed flat.

Pittsburgh – Smartphone users are looking for something. According to a new report from Branding Brand's Mobile Commerce Index, 43% of all smartphone traffic came from search in first quarter 2015, a 5% increase compared to fourth quarter 2014.

According to the report, 27% of smartphone traffic arrived direct; 16% arrived from email; and 14% arrived from referrals.