News

Pleasanton, Calif. – Safeway Inc. saw its net income plunge 58% from $157 million to $65.8 million during the third quarter of fiscal 2013, amid a software impairment charge, higher theft and lower property gains. Results, however, beat expectations however.

Sales grew 1.1% from $8.52 billion to $8.62 billion, driven by a 1.9% improvement in same-store sales.

Shelton, Conn. -- TABS Group, a technology-enabled analytics firm, has announced the formation of a senior-level team dedicated to supporting internal and customer-related initiatives with Walmart.

TABS Group will tap into its new talent base to obtain a comprehensive understanding as to how the largest U.S. retail chain operates on a chain and local level. The insights gained will benefit Walmart and consumer products manufacturers and further contributes to the firm's mission to simplify and improve the way analytics is conducted within the industry.

Richfield, Minn. – Best Buy is reportedly planning a major promotion to boost sales of the iPhone 5c and 5s the week of Oct. 13. According to TechnoBuffalo, an internal corporate memo indicates that consumers who trade in select smartphones that week will receive a $100 credit that can be used to cover the down payment on a new iPhone 5c or 5s.

Monroe, Mich. – La-Z-Boy Inc. intends to acquire two La-Z-Boy Furniture Galleries stores located in the Youngstown, Ohio, market, with combined revenue of approximately $6.5 million. The stores are located in Boardman and Howland, Ohio, and are owned and operated by independent dealers who are retiring.  

West Chester, Pa. - Dr. Ulrich Flatten will retire as CEO, QVC Germany at the end of the year, after 12 years of service to the company. Under his leadership, Germany has developed into QVC's largest European business and its second largest business outside of the United States.

Columbus, Ohio - The previously announced offering of $500 million aggregate principal amount of unsecured senior notes due 2023 from L Brands (formerly knows as Limited Brands) has priced at 100% of the aggregate principal amount with a coupon of 5.625%. The sale of the 2023 notes was underwritten by BofA Merrill Lynch, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC as joint book-running managers.

Foster City, Calif. – Consumers are spending more money via digital commerce than ever before. According to a new survey from Visa and GfK Research, “The Way We Pay,” more than half of respondents are more comfortable spending money online today than five years ago. The data shows that consumers are spending more than they ever have – exceeding $1 billion per day on the Visa network in 188 days since January.

New York -- UGG Australia will launch UGG by You, an online customization tool putting customers in control of the design process and transforming a visit to the retailer’s website from a shopping trip to a creative experience.

The customization tool allows consumers to mix and match an array of color schemes on two classic styles, the UGG Classic Short sheepskin boot and its Fluff Flip Flop, through a user-friendly design tool. There are over 11,000 color, outsole and trim combinations possible through the footwear personalization tool.

Virtual Piggy has become a Demandware LINK Technology Partner. Through the LINK Technology Partner Program, Virtual Piggy has developed a pre-built integration between Virtual Piggy and Demandware Commerce, making it possible for Demandware clients to implement its safe youth commerce solution in a fraction of the time normally required.

Meijer is preparing for Halloween, a growing category, and marketing an assortment of costumes not only to youth but also to pets.