Rotunda Capital Partners has acquired a majority stake in Discount Ramps, LLC from the online retailer of transportation and hauling products’ founder Joel Lederhause. The financial terms of the deal, which closed Dec. 20, were not disclosed.
In a continuing game of back-and-forth, Jos. A. Bank has rejected the acquisition proposal from Men’s Wearhouse, citing the billion dollar proposal was “significantly undervalued.”
FedEx released its second quarter financials on Dec. 18, which showed a net income of $500 million, up 14% from last year’s $438 million.
Backcountry.com, an online outdoor retailer, has expanded its global reach with the acquisition of Bergfreunde.de, an ecommerce company that caters to outdoor enthusiast in Germany, Austria, and Switzerland.
Aeropostale, a specialty retailer of casual apparel for young women and men, released its third quarter results, which showed a 15% decrease in net sales and comparable sales, which include the ecommerce channel. CEO Thomas P. Johnson said in the release that he was “disappointed in the overall performance as customer adoption is occurring more slowly than we would like against the backdrop of a challenging teen retail environment.”
J. Crew has released its third quarter financials on Dec. 4, showing a revenue increase of 11% to $618.8 million. Store sales increased 7% to $420.2 million and direct sales increased 21% to $189.8 million.
If the Marketplace Fairness Act were to pass, will it really have a serious impact on mom-and-pop online merchants? Jonathan Barsade, CEO of Exactor, dives into the complicated and highly debated online sales tax issue and discusses how proper compliance software will ease the possible burden for small ecommerce shops.
Cyber Monday reached $1.735 billion in desktop online spending, up 18% versus the same day in 2012, representing the heaviest online spending day in history, according to comScore.
During a conference call on Dec. 1, neither NRF President and CEO Matthew Shay or Prosper’s Consumer Insights Director Pam Goodfellow seemed to be alarmed by the drop-off in Thanksgiving weekend sales figures.
comScore says Thanksgiving Day ecommerce sales made on non-mobile devices reached $776 million, up 21% from 2012, while Black Friday’s $1.2 billion sales day was a 15% increase over last year.