News

ADM promotes its president to CEO
Archer Daniels Midland Company has appointed Juan R. Luciano the next CEO and also has elected him to the company’s board of directors, effective immediately. Luciano previously served as company’s president and COO responsible for leading and running the company’s global operations.

Luciano succeeds Patricia Woertz, who will continue in the role of ADM’s chairman of the board and is expected to retire in May 2016.
Walgreens files for bond offering to finance Alliance Boots purchase
New York –- Walgreens has reportedly filed for an eight-part benchmark bond offering to help finance its planned $5.3 billion purchase of U.K. drugstore retailer Alliance Boots GmBH. According to Bloomberg, Walgreens has filed with the SEC for three-, five-, seven-, 10-, 20- and 30-year fixed-rate bonds, as well as 18-month and three-year floating-rate notes.

IBM predicts record mobile holiday sales

IBM is forecasting a record holiday season heavily influenced by digital sales. IBM research based on digital analytics predicts a total online sales increase of more than 15% over a 5-day period between Thanksgiving and Cyber Monday.

The biggest increase in online sales is expected on Cyber Monday with a predicted 15.8% increase over the last year, followed closely by Thanksgiving with an increase of 15.6%
Staples launches omnichannel holiday promotions Nov. 16

Framingham, Mass. -- Staples Inc. is launching holiday in-store, online and mobile deals starting Nov. 16 through Black Friday and Cyber Monday. In addition to discounts on a variety of items, Staples is offering an in-store and online price match guarantee, a new mobile app with a redesigned weekly ad page, daily deals on Staples.com, and shopping from in-store kiosks for items not available in the store.
Whole Foods healthier than thought

The nation’s leading natural and organic grocer proved its doubters wrong with a better than expected fourth quarter earnings report, a rosy outlook for the coming year and dedication to a long-term growth strategy.
Whole Foods plans 38-42 new stores as Q4 beats street

Austin, Texas -- Whole Foods Market reported that its net income rose a better-than-expected 5.8% to $128 million in its fiscal fourth quarter, ended Sept. 28, 2014, from $121 million in the year-ago period. The company also said it plans to open 38 to 42 stores, including five to six relocations, in fiscal 2015.
Target names GM exec to new role

Jacqueline Hourigan Rice will join Target Dec. 1 as the retailer’s SVP of risk and compliance after holding a similar role at General Motors.

In her new role Rice will assume some responsibilities previously held by Ann Scovil who retired in March as vp of assurance, risk and compliance. Rice will also have responsibility for corporate security and Target’s suppliers. She will report directly to Target CEO Brian Cornell who joined the company in August.
Survey: 73% to use their mobile devices for holiday shopping

Chicago -- A majority (54%) of shoppers said they would shop both online and in-store this holiday season, according to a survey by Retale, a location-based mobile platform. Twenty-four percent said they planned to shop in brick-and-mortar stores only, and 22% said online only. The survey uncovered a number of differences among Android and Apple users, which accounted for 89% of those surveyed:
One System, Many Channels

Evolution is a constant process of change. Tracking not only what is happening now but what will happen next is a difficult and fluid process. Yet if anyone is in a position to accurately gauge the current and future direction of POS technology, it is Greg Buzek, president of global research and advisory firm IHL Group. According to Buzek, POS evolution currently points in the directions of omnichannel and mobile.
Sears says ‘yes’ to rugs

SearsRugs.com is the name of a new online marketplace that promises to make shopping for high end affordable rugs easy and fun.

The site launched recently and promises access to tens of thousands of the best handmade and machine-made rugs from around the world. SearsRugs.com, a licensee of Sears Holdings, said it is working with the retailer to provide an easy and fun shopping experience and indicated the relationship would give SearsRugs.com a substantial position in the online rug market.