Today In Retail: Walgreens To Launch Co-Branded Cards; Big Lots Reports Rise In Quarter-To-Date Comp Sales

In today’s top retail news, Walgreens is growing its financial services offering with the help of Mastercard and Synchrony, while Big Lots, Inc. said it has seen quarter-to-date comp sales grow by roughly 7.5 percent. Plus, Target reported that comparable digital sales increased by over 100 percent over the holidays.

Walgreens To Roll Out Co-Branded Cards With Mastercard, Synchrony

Walgreens is expanding its financial services offering with the assistance of Mastercard and Synchrony. The merchant will launch credit cards issued by Synchrony, as well as a prepaid debit card that will be powered by the Mastercard network. The cards will reportedly be the first of a bevy of financial offerings that the retailer has in the works.

Big Lots’ Quarter-To-Date Comp Sales Rise Approximately 7.5 Pct

Big Lots, Inc. said it had seen a comparable sales increase of about 7.5 percent on a quarter-to-date basis. The discount retailer foresees that earnings per share (EPS) to be in the range of $2.40 and $2.50 for Q4 fiscal 2020 in contrast to $2.39 in diluted EPS for the comparable quarter last year. Big Lots, which is based in Ohio, runs over 1,400 shops in 47 states.

Target Doubles Holiday Digital Sales; In-Store Comps Up 4.2 Percent

Target reported Wednesday (Jan. 13) that comparable digital sales more than doubled over the holidays, as in-store sales expanded even with the pandemic. The retailer said comparable digital sales jumped 102 percent in the November/December timeframe, as store-originated comparable sales climbed 4.2 percent.

Epic Games And Google Are Turning Dying Malls Into Corporate Campuses 

Shopping malls that are struggling, or have closed, are sometimes remade into medical facilities, apartments and even Amazon distribution hubs. However, some are finding new life as headquarters or campuses for companies. In one case, Fortnite parent Epic Games unveiled plans earlier in January to purchase the Cary Towne Center mall, which is close to its existing headquarters.