Tractor Supply approves $600 million share buyback
Brentwood, Texas — Tractor Supply Co. said Thursday it approved a $600 million stock buyback program, increases its existing share buyback program to $1 billion. The program was established in February 2007, and is extended through April 30, 2015.
The chain said it will also increase its quarterly cash dividend to 12 cents per share.
Tractor Supply, the largest retail farm and ranch retail chain in the United States, said the dividend is a 71% increase over its previous payments of 7 cents per share. The dividend will be paid June 1 to stockholders of record at the close of business May 16.
Kohl’s adds Rock & Republic label
Menomonee Falls, Wis. — Kohl’s Corp. has added another exclusive label to its lineup with Rock & Republic Apparel. The company signed a long-term licensing agreement with R&R Apparel Co. LLC and its parent company, VF Corp.
Rock & Republic will launch in men’s and women’s apparel and footwear in spring 2012. It may expand into children’s accessories and home goods over time. Nearly half of Kohl’s sales in 2010 came from exclusive brands.
Newegg and QVC top Gomez web poll
New York City — Newegg and QVC took top honors in the retail category in Compuware Gomez’s Best of the Web 2010 Awards, which honor the strongest web performers across various industries. The retail winners were determined based on the annual cumulative response time, availability and consistency of their web and mobile sites, as well as multi-step business process transactions.
In retail, Newegg and QVC tied for the “One Web” Award (reflects uniform excellence across both web experiences, “traditional” as well as mobile). And for the second year in a row, Newegg received the "Web Gold" award, which reflects website and business process transactions only. QVC also received the Mobile Site Performance Award.
The report noted that after a flat 2009, 2010 retail e-commerce revenue rose 10% in 2010, with spending reaching $142.5 billion. Unique visitors to e-commerce sites increased 15% versus a year ago.
Click here to read the full report.