Consumer and retail news: 10 things you need to know today

1. Jared Fogle is sentenced to nearly 16 years in prison.

Former Subway pitchman Jared Fogle was sentenced on Thursday to 15 years, eight months in prison for possession and distribution of child pornography and traveling across state lines for sex with a minor. US District Judge Tanya Walton Pratt delivered the sentence on Thursday in federal court in Indianapolis.

2. The FDA finally approved 'Frankenfish' - the first genetically modified animal you can eat.

The US Food and Drug Administration on Thursday approved AquAdvantage Salmon as the first genetically modified food from animals, the agency said in a statement. The agency also issued guidance for manufacturers who choose to voluntarily label their products as containing ingredients from GMO sources.

3. Skechers wins Converse trademark lawsuit against the brand.

In October 2014, Converse made a big move by filing a lawsuit against 30 companies for infringing on its classic sneaker style's bumper toe, striped midsole and toe cap. The brand argued that companies were violating a common-law trademark protected in a trade-and-tariff code by importing "knockoff" sneakers with similar elements. Skechers' Bobs and Twinkle Toes brands were part of the suit, and on Thursday, the company announced that the judge had ruled favorably for Skechers.

4. Lululemon is launching a new collection on Black Friday.

Lululemon is celebrating Black Friday, not by slashing prices, but by launching an eight-piece capsule collection. The items are all or mostly black. and made with breathable "360-degree high-impact reflectivity" fabric and range from $38 for ear warmers to $298 for a pair of running tights.

5. Starbucks is conquering a huge challenge in retail.

Starbucks' mobile strategy is part of an interlocking "digital ecosystem" that links Starbucks Cards, mobile apps, and, increasingly, partnerships with other companies. More than a third of Starbucks transactions are made through either a digital "card" using the app or a physical Starbucks Card. Currently, Starbucks has 10 million active loyalty members in the US, up 28% from last year.

6. Chefs and the UN believe this grain almost no one has heard of is going to be the biggest food trend of 2016.

"Pulses" may not be a term found in your food vocabulary. However, experts say these grains will be everywhere in 2016. Pulses are a type of legume that includes dried beans, lentils, and peas. The term encompasses foods that are already pretty popular, like chickpeas, as well as some foreign to many Americans, like pigeon peas and run peas.

7. Nike is buying back $12 billion of stock.

In an announcement on Thursday after the market close Nike announced it would repurchase $12 billion worth of stock, raise its dividend, and execute a 2-for-1 stock split. Following the announcement shares of the retailer were up as much as 4% in after hours trade.

8. Spotify announced its new global paid parental leave policy.

Spotify is the latest company to announce a more generous parental leave policy. Others have included Netflix, Adobe, and Amazon. This is the first time a company has extended the leave through the child's third birthday and included surrogacy among those eligible for the benefit.

9. Abercrombie & Fitch is surging.

Abercrombie & Fitch shares jumped by as much as 20% in pre-market trading on Friday after the company posted third-quarter earnings results. The apparel retailer crushed expectations, marking a departure from other companies in the industry during this quarter. Abercrombie & Fitch reported third-quarter sales of $879 million, beating the forecast for $863 million.

10.You've been ironing your shirts all wrong - here's a simple guide to get a wrinkle-free shirt.