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L Brands Q2 profit up 5%; lifts outlook

BY Marianne Wilson

Columbus, Ohio — L-Brands on Wednesday reported that its second-quarter profit rose to $188.4 million, from $178.9 million last year. The retailer also lifted its fiscal full-year earnings outlook.

Revenue for the three months ended Aug. 2 rose to $2.68 billion, from $2.52 billion.

Same-store sales increased 3%.

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Imoji app scores $2 million dollars of venture capital

BY CSA STAFF

The app imoji, which allows users to create emoji characters from photos, announced Wednesday that it had secured $2 million in venture funds from Joe Lacob and Goodwater Capital. The app has been available in Apple’s app store for less than a month.

"imoji sits at the intersection of three major trends — selfies, messaging, and stickers. It has the potential to build a broad new visual lexicon in mobile communication that deeply engages users,” Goodwater co-founder Eric Kim said. “[Co-founder] Chi-Hua [Chien] and I are excited to partner with the imoji team on this journey.”

As a result of the deal, Kim and Lacob, who is a former Kleiner Perkins Caulfield & Byers partner, have been added to imoji’s board of directors. The app has also been updated so that the stickers and photos created in the app can be shared in various apps outside of iPhone’s iMessage, including Twitter, Instagram and Facebook.

“We were blown away by the creativity of our users in such a short amount of time and took a lot of feedback to heart,” imoji co-founder Jason Stein said. “As a result, we now are supporting more platforms and have some really exciting updates, including an Android app, in the works.”

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CST Brands acquires 77-store Nice N Easy Grocery Shoppes

BY Marianne Wilson

San Antonio — CST Brands announced the signing of a definitive agreement to acquire the convenience store assets, franchisor rights and associated trademarks of Nice N Easy Grocery Shoppes.

Nice N Easy operates 77 corporate and franchise stores in Central New York. The company operations include thirty-three company operated stores along with forty-four franchise locations.

The acquisition will provide entry into a new geographical territory for CST Brands, providing an additional area of growth for its new-to-industry stores, adjacent to its Canadian network of sites.

“Our stores across the United States and Canada share a lot in common with Nice N Easy Grocery Shoppes, making this a great match culturally and a prime opportunity for CST Brands to enter into new markets,” said Kim Bowers, chairman and CEO of CST Brands. “Both Nice N Easy and CST Brands are committed to great people, loyal customers and strong community ties, and we look forward to delighting more customers every day together.”

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