News

Finish Line pulls ahead with Q3 income
Indianapolis – The Finish Line Inc. reported an 11% improvement in net income during the third quarter of fiscal 2014, rising to $2.58 million from $2.32 million. Lower impairment and store closing charges, a slowed pace of growth in cost of sales, and an income tax benefit all helped spur the growth in profit. Consolidated net sales were $395.8 million, an increase of 9% from $364.45 million. Same-store sales rose 4.5%.
Amazon offers cash rebates with Ibotta
Seattle – Amazon.com is partnering with retail shopping app provider Ibotta Inc. to enable Amazon shoppers to receive additional cash back on a range of products purchased directly on Amazon.com.

Best Buy helps customers to holiday finish line

Minneapolis – Some customers are only midway through the race to finish their holiday shopping, some haven’t even left the starting line, but Best Buy is offering help to make sure they reach the finish line by Dec. 24. Best Buy Co Inc. is making thousands of products on BestBuy.com eligible for a free shipping upgrade.
Kraft Foods names new CEO

Kraft Foods Group Inc. says that CEO Tony Vernon plans to retire later this month, and the company has named Chairman John Cahill as his successor.

Vernon will retire on Dec. 27, the last day of the company's fiscal year. He will stay on as a senior adviser through March 31 and as a director until the company's next annual meeting in 2015.
‘Green Monday’ week sees revenue growth

Petaluma, Calif. - Retailers were seeing green the second week of December. For the week that included “Green Monday,” Dec. 8, retailers using the MarketLive e-commerce platform achieved a year-over-year revenue growth rate of 11.5%, while visits grew just 8.6%.
Thieves use creativity, stupidity at Walmart

Two men were arrested after they faked a heart attack in order to steal toys at a Walmart in Central Florida.

According to the Polk County Sheriff's Office, Tarus Scott and Genard Dupree teamed up to steal expensive toys, including a motorized Barbie car, a Barbie Glam vacation house and a Leap Frog tablet. But it's how they stole $369 worth of toys that makes this story a little different.
Kohl’s promotes “We’re Open Non-Stop” Dec. 19 through Christmas Eve

Menomonee Falls, Wisconsin - Kohl’s Department Stores has gotten in on the non-stop holiday shopping action by promoting itself as the place to be for “A Sale So Big We’re Open Non-Stop” beginning 6 a.m. on Friday, Dec. 19 through 6 p.m. on Christmas Eve, Wednesday, Dec. 24.
Couche-Tard buys Pantry for $1.7 billion

Cary, N.C. – Canadian convenience store conglomerate Alimentation Couche-Tard Inc., which operates stores under the Circle K banner in the U.S., has agreed to purchase The Pantry Inc., operator of the Kangaroo Express convenience/fuel chain, for $1.7 billion. Purchase price includes $861 million in cash and about $840 million in assumed debt.
Kate Spade designs for West Elm

Home furnishings retailer West Elm announced it is teaming up with Kate Spade Saturday to launch an exclusive collection of furniture, bedding, rugs and home accessories.

The Kate Spade Saturday + West Elm collection is Kate Spade Saturday’s first home collaboration and will be available in West Elm stores in the United States and Canada and on westelm.com in early January.
Wal-Mart – 1 in 3 consumers will shop ‘Super Saturday’

Bentonville, Ark. – “Super Saturday,” the Saturday before Christmas (Dec. 20), looks to be a super day for retailers. According to an in-store customer survey conducted by Wal-Mart Stores Inc. on Dec. 13, 36% of consumers plan to shop that day.