News

Because social media began as the purview of college kids and hipsters, it’s taken some time to register in the business community as a serious path to connection with customers. At the same time, the tools themselves have grown up and are now bringing real value to consumers and to the brands they love. We’re at an exciting moment of inflection, and one that smart companies are seizing with gusto. 

Young America, an incentive marketing firm, has partnered with EcoRebates, a Web and mobile rebate solutions provider, to create an online tool that compiles utility energy rebates with available manufacturer or retailer-specific offers. Customers can easily find, apply and submit the incentive offers on a wide range of products.

NEW YORK — The popular television talk show host and comedian Ellen DeGeneres said she was “proud and happy” that JCPenney remained committed to her after One Million Moms asked the retailer to dump her as a spokesperson because she is gay.

The group, a division of the conservative American Family Association, warned they would boycott J.C. Penney stores if the chain did not go along with their request.

DeGeneres addressed the issue on Tuesday at the taping of her television show. The show will air on Wednesday.

WOONSOCKET, R.I. — CVS Caremark recorded strong financial results for the fourth quarter and full year, and made solid progress across the enterprise during 2011, which set the stage for future growth. However, it was the potential benefit that CVS Caremark is seeing from Walgreens’ battle with Express Scripts that was top of mind for many and was a key question that president and CEO Larry Merlo hit head on at the top of Wednesday morning’s conference call.

NEW YORK —  Counterfeit apparel and accessories has gotten so close to the original that even the most discerning customer often can't tell the difference. And while it's one thing to purchase an item known to be an imitation of a more expensive brand, many consumers are duped into buying what they believe is a high-quality, brand-named item. This is especially true when purchasing items online, where the customer has to rely on product descriptions and images to determine an items authenticity.

New York City -- Barneys New York is in discussions with its lenders about restructuring, Crain’s New York reported. Barneys, which operates nine namesake stores and 17 Co-op locations, is owned by Istithmar World, the investment arm of government owned Dubai World.

“Barneys New York is actively engaged in discussions with the company's small group of lenders to improve its balance sheet and further position Barneys New York for sustainable, long-term growth and success,” said a Barneys spokeswoman in a statement.

New York City -- Genpact, a leader in business process and technology management, announced the transition services started in 2011 have been completed and IT Help Desk production support services are now fully operational as of Jan. 1, 2012 with Dollar General Corp.

I love some of the quotes that came out of this year’s Finance Forum, held in late January in Manhattan. The annual gathering of retail industry executives, suppliers and consultants has a reputation for lively chatter and it didn’t disappoint this year, thanks largely to J. Crew Group chairman and CEO Millard “Mickey” Drexler. The veteran — and notoriously outspoken — retailer wasn’t on the formal panel, but he had a few choice remarks to say from the audience during a question-and-answer session.

Woonsocket, R.I. -- CVS Caremark Corp.'s fourth-quarter earnings rose nearly 4% to $1.06 billion, amid increased pharmacy services revenue because of a long-term contract and new business. The company raised its 2012 earnings forecast by 3 cents per share to account for gains it expects because of a contract dispute between Walgreens and Express Scripts Inc.

Net revenues for the quarter increased 15.2% to a record $28.3 billion. Drugstore revenue increased 4%. Same-store sales were up 2.5%.

New York City -- The Jones Group reported a net loss of $21.1 million in the quarter ended Dec. 31, compared with $40.1 million a year earlier.

Fourth-quarter revenue totaled $893.6 million, which was in line with analysts' expectations but lower than the company's earlier forecast.