The Retailer's Source for Content & Community
The biggest players in the world of retail have come together to form a Super Friends-like coalition, whose mission is to address the environmental and social impacts of their products. Made up of global retailers like Nike, Wal-Mart, Target and Gap among others, the “Sustainable Apparel Coalition” intends to create a universal Apparel Index that would eventually give retailers the opportunity to publish environmental scoring metrics on their products.
Wal-Mart has made a push to capitalize on Amazon’s ongoing tax troubles in California, by reaching out to the online retailer’s business partners. In a public statement, Wal-Mart said that it was “committed to supporting the affiliate programmes which help to drive Walmart.com's online business.”
1SaleADay.com, home to the largest independently owned daily-deal website, announced its new partnership with Optima Ventures. Optima Venture's capital investment will enable the company to continue to fulfill its 1.5 million customers' ever-growing appetite for their daily-deal offers.
Retail giants, non-governmental organizations, academic experts, and the Environmental Protection Agency are banding together to reduce the social and environmental impacts of apparel and footwear products sold worldwide.
J.Crew will once again be a private company after shareholders approved a $2.86 billion deal for the retailer to be acquired by TPG Capital and Leonard Green & Partners.
Dollar Tree plans to open 300 outlets and 35 Deals-bannered stores this year after its fourth-quarter profit rose 20 percent on higher revenue. The retailer will increase capital expenditure by $215 million to $225 million, compared to $179 million in 2010.
The Knot, a media company that targets brides-to-be and pregnant women, said that Macy's has sold back its 10.7 percent stake in The Knot for $37.7 million. The Knot didn't give a reason for the repurchase and said it's part of a previously announced $50 million buyback plan.
Media and marketing services company Valassis and News America Marketing have formed a cross-publishing deal to expand the digital offers on Valassis' redplum.com and News America Marketing's SmartSource.com coupon and savings websites.
PFSweb sold certain assets of eCOST.com to PC Mall for $2.3 million, despite rumors that had been circulating that PFSweb would sell its eCOST.com unit to uBid.com. eCOST.com is a multicategory online discount retailer of new, close-out and manufacturer recertified brand name merchandise for consumers and small-to-medium-size business buyers.
TJX has reported a 15 percent drop in fourth-quarter earnings, dragged down by costs to close its A.J. Wright store division. The company also plans to repurchase $1.2 billion of its stock this fiscal year and raise its dividend.
