Marshal Cohen, chief industry analyst at the NPD Group said that back-to-college has become a big opportunity for retailers, and everybody wants part of the business. Last year, families spent an average of $800 on back-to-college products.
The National Retail Federation is responding to a report from the Federal Reserve that revealed that debit card swipe fees collected by the nation's largest banks have dropped significantly since reform regulations took effect last fall.
A miniature version of the spike in stock market activity that followed speculation about the prospects of a Walgreens-Rite Aid merger happened on Drug Store News' website as a quick writeup about the potential deal became the most-read story on the site. But for all the buzz that Credit Suisse analyst Edward Kelly created with his report, a Walgreens-Rite Aid merger appears pretty unlikely on closer inspection.
A survey sponsored by in-store commerce provider AisleBuyer found that nearly 40% of smartphone-carrying shoppers have abandoned their in-store purchases because of long lines, while 21% will abandon their purchases if there are no registers open.
Fred's on Thursday announced an increase in the company's quarterly cash dividend by 20% to 6 cents per share, and an increase in the company's stock repurchase program to an additional 3.6 million shares, or 10% of the currently outstanding shares.
Target has promoted John Mulligan to the position of EVP and CFO, effective April 1. Mulligan currently serves as SVP finance. He replaces Doug Scovanner, Target’s EVP and CFO for the past 18 years, who announced his retirement in November 2011.