News

Port Washington, N.Y. - Consumers spent more than $47 billion on small appliances, non-electric housewares products, and home fashions in 2014. According to The NPD Group, this was a nearly $500 million, or 1%, increase from 2013 home-product sales,

NPD Group data also shows this continued the growth trajectory resumed in 2013, when the industry grew by 4%. Sales of small kitchen appliances, bed, and bath home fashions products buoyed the industry in 2014, while most non-electric housewares continued to struggle.

CAMP HILL, Pa. — Rite Aid is set to acquire the leading independent pharmacy benefit manager Envision Pharmaceutical in a deal valued at $2 billion, the retailer announced Wednesday.    Rite Aid shares were up more than 8% in pre-market trading on the news.   

Rite Aid is set to acquire leading independent pharmacy benefit manager Envision Pharmaceutical in a deal valued at $2 billion.  

Pier 1 Imports Inc. has retracted its profit guidance for the fourth quarter and replaced its chief financial officer after what the company's CEO said was a miscalculated financial forecast.

CEO Alex W. Smith said the retailer’s same store sales growth in January was 5.7%, well below a forecast that "overestimated the recapture of lost sales from last year’s storms.”

Procter & Gamble Co. has added the former CEO and chairman of Home Depot Inc. to its board of directors.

Francis Blake, 65, joins the board efefctive immediately.

The move comes just a few days after his retirement as chairman of Home Depot. He stepped down from the CEO position in November.

DDR Corp.'s board of directors has promoted David Oakes to the chief executive officer post.

Oakes, the company's president and chief financial officer, fills a seat left empty by Daniel Hurwitz, who stepped down as CEO in December.

"After a thorough and robust search process, the board is confident that David is the right person to lead DDR into the future," Terry Ahern, the company's chairman, said. "I also want to thank the team for the terrific job that they have done while the board conducted the search process."

Sam’s Club is taking a different approach to Valentine’s Day promotions by offering customers the gift of good health.

According to a national survey, Americans plan to spend around $142 on Valentine’s Day this year for jewelry, candy and a special night out. What if, in addition to these, people could also give the gift of health to their loved ones this year without breaking the bank even more? Sam’s Club is making it possible this Valentine’s Day by offering free heart health screenings.

An agreement between Mobiquity Networks and personal shopping concierge service ShopAdvisor is giving retailers intriguing new options to drive sales by serving offers to shoppers predisposed to purchase certain products. 

Family Dollar Stores Inc. has inked a deal with a cloud management firm to improve its operational efficiency and cost competitiveness.

Duluth Trading Company has promoted Stephanie Pugliese to president and chief executive officer.

Pugliese is a former executive with Ann Taylor and Lands’ End.

The previous CEO and principal owner of Duluth Trading, Steve Schlecht, will continue as the company’s executive chairman. Pugliese’s appointment is effective immediately.