News

BOCA RATON, Fla. - Office Depot announced that it has entered into an agreement to sell its Office Depot Japan business to Kakuyasu. The transaction also includes an agreement for Kakuyasu to license Office Depot’s trade names, obtain sourcing services and continue to support Office Depot’s global customers in Japan. Kakuyasu is one of the fastest growing and leading multi-channel businesses in Japan with FY 2009 sales of $775 million.

Office Depot Japan was established in 1996 and is a wholly owned subsidiary of Office Depot Inc. 

CAMP HILL, Pa. — What Rite Aid might wish for Christmas is accelerated results borne from its Wellness+ loyalty card program, because even as the chain lowered its guidance for fiscal 2011 sales, it’s that differentiated loyalty program that’s going to buttress sales next year and beyond.

ATLANTA - Mobile-commerce enabler Outlier, a subsidiary of Qualcom, announced JCPenney as its latest retail partner for Outlier's recently released mobile application, Swagg. The application, providing shoppers with mobile access to retail special offers and customer loyalty programs.

BENTONVILLE, Ark. - As its latest Facebook campaign for hunger relief draws to a close, Walmart is encouraging last-minute "likes" that will help determine which of 100 U.S. cities will receive $1.5 million in grants. The "Fighting Hunger Together" Facebook campaign will end at 12 a.m. on Jan. 1 and is part of the company's $2 billion commitment to help fight hunger through 2015.

NEW YORK - Everlast Worldwide announced the signing of a long-term, direct-to-retail licensing deal with Sears Holdings. Through the agreement, Sears Holdings will have the U.S. license for the Everlast brand in their 850 Sears doors and the Everlast Sport brand in 1,325 Kmart doors as well as launching on sears.com and kmart.com. The long-term agreement gives Sears and Kmart the rights to the Everlast brand for apparel, footwear and accessories for men, women and kids. Sears and Kmart plan to launch the brand nationwide beginning in the spring of 2011.

ATLANTA - Pointing to the power of technology to improve communications to frontline employees, Home Depot Executive VP of U.S. Stores Marvin Ellison described a tool called "My Success" during the company's recent  investor and analyst conference.

No matter what the politicians in Washington are saying, the United States is married to China. And, this relationship has been nearly 40 years in the making. Ever since Nixon visited China, the United States has become more and more reliant upon low-cost Chinese goods. Indeed, according to The United States Trade Representative, the United States imported nearly $300 billion worth of goods from China in 2009 alone. To the extent an economic recovery in the United States depends on consumers spending at retail, the ability of U.S.

Walmart turned to Facebook to spread awareness of hunger with an innovative initiative to determine how $1.5 million in grant money will be divvied up among 100 U.S. cities, but the social media effort is ending soon and Walmart is encouraging last minute “likes” as the New Years Day deadline approaches.

The folks in the electronics and entertainment area at Walmart had to be smiling this week at Best Buy’s admission that it lost market share to discounters during the third quarter. The share loss resulted in a 5% same-store sales decline at U.S. stores that was well below guidance that called for flat to modest growth. Earnings per share of 54 cents were well below consensus estimates of 60 cents and full-year guidance was reduced to a range of $3.20 to $3.40 from a range of $3.55 to $3.70.

HOFFMAN ESTATES, Ill. - Kmart announced it will offer last-minute holiday shoppers reduced prices on more than 1,400 must-have toys to help shoppers finish their Christmas lists. In addition to extended store hours, Kmart will offer special deals on toys starting today through Dec. 24.

Additionally, Kmart said it is offering customers special deals on popular items every kid has on their list. For example, when you purchase toys like Lego, Kung Zhu and remote control cars, deep discounts will be offered on the second purchase.