Ken Hicks, Foot Locker chairman and CEO, took the reins of the retailer in 2007 as the United States was facing down its worst recession in decades. Under his leadership, the footwear and sports apparel company has managed to deliver 17 consecutive quarters of comparable store sales growth and its best-ever financial results for the 2013 fiscal year. Here, he speaks about the meaning of omnichannel.

Specialty retailer Bed Bath and Beyond spent $68m in its recently completed first quarter, primarily for IT enhancements. "While we continue to review and prioritize our capital needs, we remain committed to making the required investments in our company to help position us for our long-term success," said CEO Steven Temares.

Walmart is rolling out a program to send shoppers e-receipts via its mobile app, and while they're surely thrilled to save a few trees the real impetus is the wealth of customer data it can provide.

The growing Internet of Things (IoT) will bring new opportunities and challenges, not the least of which will be increased spending in retail IT and advanced security concerns.

CVS/Caremark appears to be creating a new IT team, one that will bridge the digital divide between marketing and IT as the retailer looks to strengthen its omnichannel efforts.