FINANCE

Michael Kors profit more than doubles in 1Q, revenue rises 71%

BY Katherine Boccaccio

New York CIty — Michael Kors Holdings Ltd. reported Tuesday that first-quarter profit more than doubled to $68.6 million, from $24.1 million in the year-ago period.

Revenue surged 71% to $414.9 million, after the company opened 76 new stores and grew same-store sales by 37%. Wall Street forecast revenue of $368.3 million.

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OPERATIONS

CVS/pharmacy joins Shopkick as inaugural retail pharmacy partner

BY Antoinette Alexander

Palo Alto, Calif. — Shopkick, a shopping application that rewards shoppers for walking into stores and interacting with products, has teamed up with CVS/pharmacy to roll out a first-ever offering of walk-in and other rewards at a retail pharmacy, Shopkick announced on Tuesday.

The program kicks off with a special offer, kicking $5 back to shoppers who visit participating CVS/pharmacy locations with the Shopkick app. 



“The CVS/pharmacy partnership with Shopkick is another exciting step in our ongoing efforts to expand our mobile capabilities for our digitally minded customers,” stated Rob Price, CMO for CVS/pharmacy. “We’re looking forward to working with Shopkick and to delivering on our goal of creating the most personalized and accessible shopping experience for our customers.”
 


CVS/pharmacy customers will receive Shopkick’s cross-retail currency “kicks” for walking in to 1-of-150 stores throughout the San Francisco Bay area, and will receive special offers and opportunities to interact with partner brands throughout their shopping experience. CVS/pharmacy customers will also receive additional kicks when they make a purchase with a MasterCard or Visa card through Shopkick’s “Buy & Collect” program.
 


CVS/pharmacy customers can also redeem kicks for CVS/pharmacy gift cards in the Shopkick Rewards Mall. 


To provide rewards to shoppers actually walking in stores, the Shopkick app detects a Shopkick signal, emitted from a patent-pending device located in each participating store and picked up by a shopper’s smartphone handset. Because the store is focused on rewarding actual visitors, it then delivers “kicks” via the app, which can be collected at all participating partner store locations. Kicks are redeemed for in-store gift cards, song downloads, movie tickets, Facebook Credits, donations to charities and more.

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FINANCE

Couche-Tard Acquires 29 Stores in Orlando

BY Katherine Boccaccio

Laval, Quebec — Alimentation Couche-Tard Inc. said Tuesday its subsidiary Circle K Stores will acquire 29 stores in Orlando, Fla., from Florida Oil Holdings.

The transaction is expected to close at the end of August.

The BP-branded stores will be operated by Couche-Tard’s Florida Division under the Circle K brand.

"This is a great opportunity for the Florida Division to strengthen our market share in the Orlando market,” said David Morgan, VP operations, Florida.

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