News

St. Petersburg, Fla. - HSN Inc. (HSNi) has entered into a new $1.25 billion five-year credit facility, replacing its existing $600 million credit facility. In addition, in continuation of the company's capital return plan, the board of directors declared a special cash dividend of $10 per share, representing approximately $525 million.

Patients in Kansas and Louisiana will be able to get help with medication counseling, chronic disease monitoring and wellness programs at CVS Health pharmacies and MinuteClinics under a new agreement.

It's time once again for confectionery and snack retailers, as well as manufacturers to come together for the Sweets & Snacks Expo, which is scheduled to be held May 19 through May 21 at Chicago's McCormick Place.

A bigger push to sell its offerings online helped drive record sales in 2014 for Swedish retailer Hennes & Mauritz, as well as prompt expansion plans for the retailer. 

The Stockholm-based retailer said net profit rose 17% to $760 million in 2014, ahead of analysts’ forecasts. Same store sales increased 26% in 2014, the retailer reported.

As more retailers work to unify their physical and digital capabilities in a more effective way, BCBGMaxazria Group is expanding its omnichannel strategy.

The retailer says it is expanding its relationship with Demandware to advance its omnichannel commerce strategy.

Rite Aid Corp. announced plans to build its first new distribution center in 15 years, a 900,000-sq.-ft. facility in Spartanburg, South Carolina.

The new, $90 million center, set to open in 2016, will employ nearly 600 people after it becomes fully operational and will support the inventory and fulfillment needs of approximately 1,000 Rite Aid stores in the southeastern United States.

After a 2014 review found inefficiencies in its supply chain and logistics network, Rite Aid Corp. consolidated three distribution centers. Now the company is going in a new direction.

The retailer said it plans to build a 900,000 square foot distribution center in Spartanburg, S.C., its first new DC in 15 years. The new distribution center will employ nearly 600 people after it becomes fully operational and will support the inventory and fulfillment needs of approximately 1,000 Rite Aid stores in the southeastern United States.

As Lowe’s prepares to open its previously announced 25 new stores in Canada during the next three years, speculation is mounting that the retailer could snap up some of Target's locations when the company withdraws from the Canadian market later this year.   But Lowe's is not saying whether three new Lowe's stores set to open later this year in Lethbridge, Saskatoon and Sault Ste. Mari will be located in former Target locations.  

By Will Poindexter and Coleman Mark, Bain & Company
 
Retailers need to quickly build world-class IT capabilities for omnichannel retailing — a seamless, integrated shopping experience, whether the customers are in the store or online. The major reason: customer expectations are rising, in part thanks to the strides made by new competitors with business models built on technology, and pure-play retailers like Amazon, which are not encumbered by legacy environments and physical stores.
 

Washington, D.C. -- Restaurants will remain the nation’s hottest hirer this year.  An annual report by the National Restaurant Association indicated that, as it has for the last 16 years, the restaurant industry employment will outpace employment growth in 2015.