News

Gap appoints digital exec as new CEO
Gap has appointed a new CEO. Art Peck, currently president of the company’s growth, innovation and digital division, will succeed Glenn Murphy as the company’s next executive chief, effective Feb. 1, 2015.

The company said that after seven years in his role, Murphy made the personal decision to leave the company at the end of the fiscal year. Under Murphy’s stewardship, the company acquired new brands and globalized its business by expanding store locations from 10 to 50 countries, including China.
Albertson’s and Safeway to sell 146 stores to Haggen
Boise, Idaho – As part of divestures to receive FTC clearance of their proposed January 2015 merger, AB Acquisitions Inc. (Albertsons) and Safeway Inc. will sell 146 stores to Pacific Northwest grocery chain Haggen. With this acquisition, which remains subject to FTC approval, Haggen will expand from 18 stores with 16 pharmacies to 164 stores with 106 pharmacies.

Amazon makes customers an offer they can refuse

Amazon.com is rolling out a new haggling feature on its website as the company looks to further cement its low-price reputation among consumers.

The new “Make an Offer” feature allows sellers to accept or reject bids on more than 150,000 items across the categories of Sports and Entertainment Collectibles, Collectible Coins and Fine Art.
EBay will pay at least $35 million in exec severance

San Jose, Calif. – The New Year is looking very happy for EBay CEO John Donahoe and CFO Bob Swan. In a securities filing, EBay said that Donahoe will get a severance package worth $23 million and Swan will get a severance package worth $12 million when the company spins off its PayPal unit in 2015. Both men said they would leave their positions after the split occurs when EBay first announced the spinoff plan in September.
Dollar General remains engaged with FTC

Goodlettsville, Tenn. – Dollar General Corp. stated on Dec. 19 that it remains actively engaged in discussions with the Federal Trade Commission (FTC) regarding the extent of potential divestitures that would be required in connection with an acquisition of Family Dollar Stores Inc. Dollar General does not expect to provide any further update prior to the Family Dollar shareholders meeting currently scheduled for Dec. 23, 2014.
Tech Guest Viewpoint - Make Room for ‘Webrooming’ in Your Store

By James Han, Tyco Retail Solutions
Retail Rap: Stocking Stuffers

With 2014 almost over, another holiday shopping season is drawing to a close. The looming question on everyone’s mind, of course, is whether holiday sales managed to live up to the (mostly) positive holiday forecasts from analysts and retail organizations.
Demand drives up Nike in Q2

Citing strong consumer demand for its products, Nike reported a big boost in revenue and profit for the second quarter.

“Our strong second quarter results once again demonstrate NIKE is a growth company,” said Mark Parker, president and CEO of NIKE Inc. “The power of our portfolio continues to unlock growth, as we keep a laser focus on our biggest opportunities. The breadth and depth of that portfolio has helped us consistently deliver strong results –- quarter after quarter, year after year.”
Consumer spending reaches 11-month high

New York - The Deloitte Consumer Spending Index reached its highest point since November 2013, rising to 4.5 from 4 the prior month. The Index tracks consumer cash flow as an indicator of future consumer spending. The Index comprises four components – tax burden, initial unemployment claims, real wages and real home prices. Highlights include: Tax Burden: The tax rate has been effectively unchanged from the previous month at 11.8%.
Return fraud will cost retailers $10.9 billion in 2014

Washington, D.C. – Apparently, a lot of fraud artists will get their names on the “naughty list” this year. According to the National Retail Federation (NRF) 2014 Return Fraud Survey completed by loss prevention executives at 60 retail companies representing grocery, department, discount, specialty and small retailers, the industry will lose an estimated $10.9 billion to return fraud this year.