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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…
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…
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…
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…
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…
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.
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…
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…
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…
December 2, 2015 at 10:32 am
Another Black Friday and Cyber Monday is in the books, and with it came a crush of data about how, where and when shoppers were opening their wallets over the course of a five-day flurry of shopping. Here are some of the more interesting things we’ve learned about the state of shopping at a time…
