News

Taxes help Rite Aid beat Street with impressive Q4 profit
Camp Hill, Pa. – Rite Aid Corp. beat Wall Street expectations with soaring profit in the fourth quarter of fiscal 2014. The retailer reported net income of $1.83 billion, exponentially larger than net income of $55.4 million in the same quarter a year earlier.

A favorable tax asset valuation drove the substantial profit growth. Revenues rose 4% to $6.8 billion from $6.6 billion, mostly due to a same-store sales increase of 4.5%.
Staples gets in to the 'Shark Tank' for small business
Staples is getting into the “Shark Tank” to attract more small business owners to its stores by teaming up with ABC’s popular TV show.

The retailer will sponsor debut products from inventors on ABC’s “Shark Tank” television show and on Staples.com and in select Staples stores. The successful entrepreneurs behind the products will be featured during three episodes of ABC’s “Shark Tank” starting April 10.

Alibaba teams up with Bigcommerce for direct sourcing

San Francisco – Alibaba.com has collaborated with e-commerce platform to Bigcommerce deliver an integrated shopping experience for sourcing products from Alibaba.com’s network of Chinese wholesale suppliers. The Alibaba.com Wholesale solution is immediately available to Bigcommerce’s 70,000 stores, and online merchants can now access and purchase a collection of more than 30,000 products from about 300 of Alibaba.com’s Gold Suppliers in China with scope to expand to more than three million products from thousands of Gold Suppliers.
Uniqlo to open D.C., Denver, Seattle stores

Japanese retailer Uniqlo's U.S. expansion is picking up speed as the company prepares to open its first-ever stores in the Seattle, Denver and Washington, D.C.
Study: Customer loyalty program enrollments at all-time high

New York -- Enrollment levels in consumer loyalty programs have reached an all-time according to the 2015 Bond Brand Loyalty Report. The fifth annual study shows consumers overwhelmingly agree that loyalty programs are worth the effort.
February chills Family Dollar sales

Cold weather in February caused profits to slide at Family Dollar Stores Inc. ahead of its impending merger with Dollar Tree.
Pharmacy sales help drive profits for Rite Aid in 2014

Rite Aid said higher prescription sales and stronger cost control helped the drugstore chain report a profit surge for the fourth quarter.
RSR Research: Retailers focus heavily on customer behavior

Walnut Creek, Calif. – Retailers are taking advantage of volumes of Big Data and advanced analytical technology to uncover deep insights on customer behavior. However, according to a new study from RSR Research, they may be focusing on customer behavior to an extent they overlook other valuable insights.
Report: Google to take on Amazon Home Services

Mountain View, Calif. – Google is reportedly planning to launch a service that will compete with Amazon Home Services later this spring. According to BuzzFeed, Google will integrate a new product into its core search functionality that will directly connect users searching for service providers such as plumbers and electricians to the providers.
Japanese eyewear brand JINS opens U.S. flagship

Japan’s largest eyewear brand is opening its first U.S. flagship store in California with a unique, gallery-like setting designed by San Francisco architecture firm Kwan Henmi.

Shoppers at JINS will be able to choose trendy, customized eyeglass styles for each face and personality with affordable prices ranging from $60 to $120, including high-quality aspheric lenses.