News

Woonsocket, R.I. -- CVS/pharmacy said Tuesday it has introduced an updated mobile app that allows shoppers to digitally store their ExtraCare card in their smartphone, eliminating the need to carry an ExtraCare card when shopping.

The CVS mobile app now allows members to scan the barcode on the back of their card or type in their account number manually. After the barcode is captured, customers' smartphones will work just like ExtraCare cards at the register.

NEW YORK and REDMOND, Wash. — Barnes & Noble has formed a partnership with Microsoft that will put Barnes & Noble's college and digital business under a new subsidiary, referred to for now as Newco. According to a press release, Microsoft will make a $300 million investment in Newco at a post-money valuation of $1.7 billion in exchange for an approximately 17.6% equity stake. Barnes & Noble will own approximately 82.4% of the new subsidiary, which will have an ongoing relationship with the company’s retail stores.

ASHEVILLE, N.C. — Net sales for Ingles Markets experienced a spike during the second quarter and first half of fiscal year 2012, the retailer reported Monday.

NEW YORK — Millennial shoppers (consumers ages 18 to 34 years) now represent the highest percentage of Americans who do not have enough money to cover their basic needs, according to WSL/Strategic Retail, a leading authority on shopper behavior and retail trends.

COLUMBUS, Ohio — Express has named Theo Killion has been appointed to its board of directors as a Class III director.  Killion is CEO and a director of Zale Corp.  

CHICAGO — Consumers’ confidence in their personal finances is returning to levels seen in first quarter 2011, according to SymphonyIRI Group’s latest MarketPulse survey, released Friday. But while confidence remains high, the same consumers remain frugal.

Sidney, Neb. -- SAP America Inc., a subsidiary of SAP AG, announced that Cabela’s Inc. has selected the SAP point-of-sale application to support its retail expansion and enhance its customer experience.

The hunting, fishing and outdoor gear retailer will leverage out-of-the-box functionality inherent in SAP POS to provide increased customer service, as well as system and sales associate efficiency, SAP said.

New York -- Wrapp, a new online gift service from Sweden, has launched in the United States, partnering with such retailers as Gap, H&M and Sephora to let consumers send free virtual gift cards to friends on Facebook.

Dallas -- The Food Marketing Institute (FMI) announced that it has entered into a strategic business partnership with TopSource LLC, a sourcing company and wholly owned subsidiary of Topco Associates LLC. FMI said the partnership will provide its members the opportunity to support the foundations of their growing businesses with significant savings related to costs in not-for-resale areas.

A friend of mine recently called to ask my opinion of the “new” Gap. She had just returned from shopping at The Grove, an upmarket mall in Los Angles, and couldn’t get over how “different” the Gap seemed. It wasn’t just the merchandise as much as the overall environment that had struck her. Everything seemed so “fresh,” she said.