News

iWallet Corporation, a secure luxury “techcessories” company, has appointed three new members to its board of directors including Carl Rosen, former COO of Bulova, then international consumer luxury goods company; Charles Ng, VP of sales at NEXT Biometrics and the former North American director of sales for Fingerprint Cards and sales director for Authentec, a biometric fingerprint technology; and Anthony Durkacz, EVP of the investment firm First Republic Capital Corporation.

Issaquah, Wash. -- Costco Wholesale Corp. on Wednesday reported fiscal fourth-quarter net income of $697 million, exceeding Wall Street forecasts, amid strong back-to-school sales and higher membership fees. The retailer reported net income of $617 million in the year-ago period.

Total sales for the quarter, ended Aug. 31, rose 9.3% to $35.52 billion, also better than expected.

Same-store sales rose 7% (excluding fuel).

Atlantic Natural Foods has acquired the Loma Linda brand of canned shelf stable alternative meat analog products. ANF will also license the Worthington Foods brand and will transition these products to the Loma Linda brand in the near future. Both brands were previously marketed solely by Kellogg Company.

Atlantic Natural Foods has been the sole producer of these products since 2008. In addition, ANF also purchased Kellogg Company’s Kaffree Roma alternative coffee beverage unit.

New York -- Delivery Agent announced a deal with online retailer Overstock that will enable consumers with Smart TV and connected device homes to shop for items on Overstock directly from their television via Delivery Agent's ShopTV t-commerce platform.

Running now through Oct. 15, the "Overstocktober" campaign will enable viewers to buy products directly from Overstock television commercials.

Coty has submitted a binding offer to acquire the Bourjois cosmetics brand from Chanel for 15 million Class A Coty shares. Chanel has agreed to enter into exclusive negotiations.

Bourjois’ portfolio of color cosmetic products are sold through approximately 23,000 points of sale in more than 50 countries around the world. Bourjois was founded in 1863, by French actor Joseph-Albert Ponsin, who developed a line of color cosmetics for his fellow actors.

Overstock has enlisted Delivery Agent for its first TV commerce campaign, called "Overstocktober," which will enable viewers from now through Oct. 15 to purchase products directly from Overstock television commercials.

The online retailer is leveraging Delivery Agent’s ShopTV t-commerce platform so shoppers with Smart TVs and connected device homes can purchase items on e-retailer’s site directly from their television.

Los Angeles -- Sephora, Express, Art of Shaving and Things Remembered are among the retailers using a new, in-mall mobile retail solution from StepsAway.

Costco reported a rise in sales and same-store sales for the fourth quarter.

Net sales for the quarter were $34.75 billion, an increase of 9% from $31.77 billion in fiscal 2013. Same-store sales for the total company increased 6%, while U.S. same-store sales also rose 6%.

Net income for the quarter was $697 million, or $1.58 per diluted share, compared with $617 million, or $1.40 per diluted share, in the year-ago period.