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Staples Ready to Offer FTC More Assets to Win Office Depot
December 4, 2015 at 10:15 am

Staples Inc. is ready to offer additional concessions to resolve U.S. antitrust concerns that its proposed takeover of Office Depot Inc. — which would leave one national office-supply chain — would threaten competition, according to two people familiar with the matter. Representatives from Staples and Office Depot are meeting this week with Federal Trade Commission…

Amazon Prime Growing, Posing an Even Bigger Threat to Wal-Mart, Target
December 4, 2015 at 10:10 am

Amazon.com’s Prime keeps attracting more and more members, and new data from Wall Street firm Cowen & Co suggests the subscription service is getting stickier, posing a more intense threat to traditional retailers trying to claw back market share. The survey suggests Amazon Prime is drawing younger and wealthier shoppers who are now using the…

eBay Signs Deal to Help Chinese Sellers Import to US
December 4, 2015 at 10:04 am

eBay announced a deal to help Chinese businesses export their products overseas, revealing it signed a strategic partnership agreement with the Tianjin Municipal Government designed to further cement eBay China's reputation as an industry leader in retail exports. The idea is to continue flooding eBay's U.S. and European marketplaces with goods from China. In conjunction…

Top Fashion CEOs Fear Rising Costs From Climate Change
December 4, 2015 at 9:57 am

The chief executives of seven top clothing companies, including Hennes & Mauritz (H&M), Gap, and Adidas, are calling on governments to agree to a strong climate change deal, saying they fear global warming will drive up their costs. Almost 200 nations are meeting in Paris until Dec. 11, trying to work out a deal to…

Target Settles for $39M Over Data Breach
December 3, 2015 at 11:49 am

Target agreed to a $39 million settlement with several U.S. banks on Wednesday over a data breach that affected roughly 40 million customers. The banks lost millions when they were forced to reimburse customers who lost money in the massive 2013 hack of Target's database. The banks, which service MasterCard, filed a class-action lawsuit against…

Home Depot Reaches Settlement With MasterCard Over Data Breach
December 3, 2015 at 11:44 am

The Home Depot has reached a contingent settlement with MasterCard over the home improvement giant's massive 2014 data breach. The deal was disclosed Nov. 30 in court filings in federal court in Atlanta. Banks have reached out to see if their members are interested in participating in the settlement.

American Eagle Names CEO as Quarterly Earnings Improve
December 3, 2015 at 11:35 am

Nearly two years after American Eagle Outfitters parted ways with its last chief executive, the teen clothing retailer has named Jay L. Schottenstein, its interim CEO since January 2014, to the CEO role permanently. The move acknowledges that the company’s fortunes have improved in the last several quarters, including the most recent one. In third-quarter…

RadioShack Names Nick Cannon as Chief Creative Officer
December 3, 2015 at 11:24 am

RadioShack's desperation to regain relevancy collided with pop culture Wednesday when it named entertainment mogul Nick Cannon as its chief creative officer. For the electronics chain, which has been trying to remake itself under new ownership after filing for bankruptcy protection early this year, the appointment means an opportunity to distance the brand from its…

Store Traffic at Best Buy, J.C. Penney Soars on Black Friday
December 3, 2015 at 11:03 am

In the race for shoppers on Black Friday, electronics chain Best Buy and retailer J.C. Penney won the biggest surge of bargain-hunting shoppers, according to data from Foursquare. On the day after Thanksgiving, which has traditionally kicked off the holiday season, Best Buy enjoyed traffic that was 4.2 times what its stores normally see on…