News

The Next Big Thing in e-commerce is set to launch in late May according to Marc Lore, CEO of a new online Marketplace called Jet that blends aspects of the traditional warehouse club model with a new approach to dynamic pricing and fulfillment.

Lore said the Jet board of directors is scheduled to meet on May 7. At that time he expects the platform will be ready for launch and the board will pick a specific launch date within the following two week window.

New York -- Retailers in the United States are taking a huge risk by underestimating the buying power of the over-50 generation, according to a new report by the Fung Business Intelligence Centre.
 
The study, “A Booming Opportunity: Profiling from a Graying America,” finds that the aging Baby Boomers will continue to be a growing consumer market for the next 20 years.

Mattress Firm Holding Corp. is revving up its growth in fiscal 2015, with plans to open as many as 220 new stores this year.

Austin, Texas – Whole Foods Market is bringing fresh food to the people of Portland, Oregon, through its My Street Grocery program. Operating from a refurbished classic trolley car, My Street Grocery is a mobile grocer that travels to neighborhoods throughout the Portland metro area and is focused on improving fresh food access and building community.

As burgeoning food retailer Haggen charts a path of expansion across the West Coast, the company is also making some key executive moves to support its growth in the Southwest.

The grocery chain Haggen named the first five senior members of its Pacific Southwest leadership team this week:

New York – The elimination of a one-time adverse legal ruling helped Tiffany & Co. swing from loss to profit in the fourth quarter of fiscal 2014, but a strengthening dollar hurt overall sales. Tiffany reported net earnings of $196 million, compared to a net loss of $104 million the same period a year earlier.

However, worldwide net sales of $1.28 billion were down 1% from $1.3 billion, with the stronger U.S. dollar negatively impacting foreign sales results. Same-store sales dropped 4%.

Deep holiday discounts and the West Coast port dispute hurt profits at New York & Company Inc. during the fourth quarter.

New York -- Amazon.com has received preliminary approval from the Federal Aviation Administration to test drone delivery. Although consumers should not expect packages to be dropped on their porches by buzzing unmanned aircraft anytime soon, just getting the OK to test the devices is regarded as a big win for the online retail giant.