News

Report: Target to pay $10 million in data breach class action
New York -- Target Corp. has agreed to pay $10 million in a proposed settlement of a class-action suit related to the company’s 2013 data breach, according to court documents filed Wednesday. The retailer confirmed the news in a CBS News report.

“We are pleased to see the process moving forward and look forward to its resolution," Target spokesperson Molly Snyder told CBS News late Wednesday.
Survey: No signs of an e-commerce slowdown
Digital commerce continued its meteoric rise in the fourth quarter, according to the Shopping Index by Demandware.

The index, which measures digital commerce growth across two key attributes -- shopping attraction and shopper spend -- reveals that shopper attraction, which measures the number of shoppers, was up 25% in the fourth quarter 2014 over the fourth quarter last year and drove 81% of the digital commerce growth.

Facebook makes foray into payments

Facebook has become the latest tech powerhouse to get into the payments game by adding a feature to its Messenger app that lets users send money the same way they would a send text.

The news follows similar moves by Apple, Samsung and Google, all of whom announced new payment offerings over the past few months.
Guess Q4 profit falls 23% but beats Street; online sales jump 37%

Los Angeles -- Guess reported a better-than-expected fourth quarter profit amid a 37% jump in the company’s online business and falling expenses. The apparel retailer, however, forecast a disappointing 2015, primarily due to the stronger U.S. dollar (1,190 of Guess’1,668 stores are located outside the United States and about 45% of its revenue comes from international markets).

Guess income fell to $53.9 million for the fourth quarter, ended Jan. 31, from $69.6 million a year earlier.
Study: App security remains risky

Armonk, N.Y. – Mobile app use continues growing rapidly, but businesses are not keeping pace with security. According to new research from IBM and Ponemon Institute, nearly 40% of more than 400 large companies studied, including many in the Fortune 500, aren’t taking the right precautions to secure the mobile apps they build for customers.
Report: Toys 'R' Us shutting down in Times Square

Time may be running out for Toys "R" Us shoppers to ride the Ferris wheel at the retailer's flagship store in Time Square.

Toys "R" Us will not be renewing the lease of its Manhattan flagship, according to various reports. The lease for the massive 110,000-sq.-ft. retail space, at 1514 -1530 Broadway, between 44th and 45th Streets, is set to expire at the end of January.
Amazon expands one-hour delivery service to Baltimore, Miami

Seattle – Amazon.com is upping the competition with brick-and-mortar stores by expanding its one-hour Prime Now delivery service to Baltimore and Miami. The service, which was previously available only in Manhattan, offers one-hour delivery on tens of thousands of items through a mobile app.
Walmart and P&G achieve ‘Effie’ excellence

The Path to Purchase Institute this week bestowed Effie awards to top retailers and brand for their marketing effectiveness.

Winners of the 5th annual Shopper Marketing Effie Awards were celebrated at the Path to Purchase Institute’s 2015 Shopper Marketing Summit. The awards honor work that showcases the best utilization of shopper insights that lead to effective engagements and activations with shoppers along their path to purchase.
Kantar Retail: Walmart leads Target in one-stop basket price study

Boston -- Walmart narrowly leads the one-stop basket assessment versus Target, according to the latest Kantar Retail basket pricing study, which examines a basket of grocery, HBA, and general merchandise items. Study findings indicate Target’s overall basket is 3.5% more expensive than Walmart’s and Walmart leads in each of the sub-baskets, with the strongest lead in general merchandise.
Notable findings from the study include:
Smart & Final eyes more expansion

Value-oriented food retailer Smart & Final Stores Inc. plans to accelerate its expansion plans after posting double-digit sales growth in the fourth quarter.