News

Woonsocket, R.I. -- CVS Caremark has upped the size of its previously announced tender offers to refinance a portion of its debt. The company announced that it will buy back up to $1.33 billion in notes, up from the previously announced $1 billion.

"Through this transaction as well as our recent debt issuance, we are taking advantage of the current favorable interest rate environment. This debt refinancing will enhance our long-term debt structure and decrease our interest expense going forward,” stated Dave Denton, EVP and CFO of CVS Caremark.

Online sales are up 13% so far this holiday season and approaching a record $27 billion, according to the latest tally from the digital measurement firm comScore.

From November 1 through December 7, comScore puts total online spending at $26.8 billion, up 13% from $23.7 billion during the comparable period last year. Last week saw spending on December, 3, 4 and 5 each surpass $1 billion, according to the firm. That brings the number of billion spending days to seven. The highest volume day so far was Cyber Monday when sales hit nearly $1.5 billion.

TORRANCE, Calif. — Smack Sportswear, a maker of custom-designed volleyball and beach active apparel, has lured the former True Religion Apparel executive Charles A. Lesser out of retirement and into its CFO spot.

Smack manufactures its Southern California-inspired apparel in its headquarters, five miles away from the home of beach volleyball.

NEW YORK — LittleMissMatched, a tween girls apparel and accessories brand, has been acquired by Delta Galil USA. Delta Galil USA is the U.S.-based subsidiary of Delta Galil Industries, Ltd., a global manufacturer and marketer of branded and private label apparel products for men, women and children.

PORTLAND, Ore. — Columbia Sportswear Company will sponsor three freestyle ski teams during the 2012-13 World Cup season and the 2014 Winter Olympics in Sochi.

Russia completes the trifecta, having signed on with Columbia this year. It joins Canada, which signed up in 2008 and the United States, which signed on last year.

By Derek Bonney, [email protected]

Technology has shifted everything, especially the retail experience. Not only has it changed how we locate, evaluate and purchase products or services, it has created a treasure trove of data for both retailers and marketers. So let’s examine something I call the “Retail Shift.”

Pepsi announced a multi-faceted partnership with singer, dancer, actress Beyoncé.

The beverage brand first worked with Beyoncé in 2002 and has had a relationship with her ever since. However, Pepsi said the new deal is a true creative and wide-ranging global collaboration that will lead to the development of new content and innovative ways to engage fans, consumers and retailers to benefit both brands.

Laval, Quebec City -- Alimentation Couche-Tard Inc. announced that it has signed, through its wholly owned indirect subsidiary, Mac's Convenience Stores LLC, an agreement to acquire 29 stores, 25 stores are located in Illinois, three in Missouri and one in Oklahoma. The transaction is anticipated to close in December 2012.

All the stores would eventually be rebranded under the Circle K brand. Couche-Tard’s Midwest division would operate 28 of them and the other one would be operated by the Southwest division.