News

In celebration of its centennial, Tastykake is releasing new, limited-edition Birthday Kake cupcakes, which combines confetti cake with chocolate-flavored icing and colorful sprinkles. The cakes are available in 12-count packs and hit store shelves this week.

Management consulting firm Kurt Salmon has named Tom Cole as a partner in its Retail and Consumer Products Group.

MasterCard and Syniverse are partnering to deliver a number of mobile and payment services for consumers to use when traveling abroad. The two companies are currently in pilot-phase for an opt-in service that will enable card transactions for users only when they have their mobile device switched on in a specific geolocation abroad.

Hispanic consumers are outpacing non-Hispanics in their adoption of mobile, social and online sources for local shopping, according to BIA/Kelsey's Consumer Commerce Monitor study released this week. 

Discount Coupons has acquired Daily Deal Builder (DDB), a Daily Deal software and solutions provider.

DDB’s software platform allows anyone to set up, manage and host a feature-rich Daily Deal or coupon website. Currently, more than 150 companies in the U.S. and abroad utilize DDB as their Daily Deal software provider. DDB Founders Marc and Tyler Horne will remain with DDB and form part of the company's growing staff.

Abercrombie & Fitch’s fourth quarter was affected by the company’s closure of 24 Gilly Hicks stores in the fourth quarter, as well as other asset impairment charges and charges related to its profit improvement initiative.

Although the company’s net income decreased significantly in the quarter — 58% — it did not fall as much as Wall Street expected.

The company’s board also approved a $150 million accelerated share repurchase plan, to be executed during the first quarter.

Bed Bath & Beyond has promoted Eugene A. Castagna, previously CFO and treasurer, to the role of chief operating officer. Susan E. Lattmann, formerly VP of finance, will fill the CFO and treasurer spot.

The TJX Companies CEO Carol Meyrowitz touted the company’s performance in the fourth quarter and fiscal 2014, calling it a successful year despite a competitive retail environment and generally unfavorable weather in many of its regions during the first and fourth quarters.

In a sign of some progress in its turnaround efforts, J.C. Penney reported a net profit of $35 million for the fourth quarter ended Feb. 1, compared to a loss of $552 million a year ago. Excluding a tax benefit and other items, Penney had a loss of $206 million for the quarter.

Looking forward, the company expects same-store sales to increase approximately 3% to 5% for the first quarter and to increase mid-single digits for the full year 2014.

Atlanta – Home Depot Inc.'s net income in the fourth-quarter edged down 0.8%, hurt by snow and severe cold and one less week in the period than a year ago. But cost costs helped its earnings to top estimates and the chain raised its quarterly dividend by 21%.

The very cold weather should boost sales this spring, the chain’s most important sales period of the year, as people repair homes damaged this winter, Home Depot said.