Marketing

New York -- The United Kingdom’s Selfridges was named ‘Best Department Store in the World’ for the third consecutive time by the Intercontinental Group of Department Stores (IGDS). The award was given at the group’s Global Department Store Summit, which was held last week. The event is held every other year.

Selfridges was in competition for the award with Macy’s and the German retailer Breuninger.

Ralph Lauren’s executive vice chairman Roger Farah plans to leave the company at the end of the month. Farah will remain on the board of directors until the expiration of his term on the date of the company’s 2014 annual meeting of stockholders in August.

New York -- Xcel Brands announced the launch of the first Isaac Mizrahi New York e-commerce website, IsaacMizrahi.com.

Phase one of the user-friendly website will offer a wide array of Isaac Mizrahi New York product offerings including women's sportswear, dresses, footwear, handbags, eyewear, watches, tech accessories and fragrance. Additionally, a dedicated section of the website will consolidate the brand's recent social media feeds, providing a view into what inspires Isaac's style.

Gap had a good April in terms of sales, and a large part of the reason is the company’s Old Navy banner.

The company reported that April net sales increased 10% to $1.33 billion for the four-week period ended May 3, versus $1.21 billion last year. Gap’s comparable sales for April 2014 were up 9% versus a 7% increase last year.

For the first quarter so far, Gap’s net sales have increased 1% to $3.77 billion versus $3.73 billion last year. The company’s comparable sales so far have decreased 1% versus a 2% increase last year.

Woodland Hills, Calif. — NewMark Merrill Companies has announced that Heather Danko and Danielle Bovard have received the Certified Marketing Director designation from the International Council of Shopping Centers.

The CMD designation is awarded for expertise in multiple disciplines including marketing management, research, marketing plan implementation, public and community relations, advertising, and media buying.

McCormick & Company has named Brendan Foley as president of U.S. consumer effective June 2. Foley will lead the largest business unit for McCormick and will report directly to president of global consumer and CAO Lawrence Kurzius.

Virgin Mobile has entered into a partnership with Banana Republic that will offer its Canadian members the newest looks from the brand for less.

Starting today through Dec. 31, Virgin Mobile members will receive 20% off any one full-priced item at Banana Republic stores across the country.

Dublin, Ohio – The Wendy’s Co. reported soaring net income in the first quarter of fiscal 2014 on lower costs and a sharp decline in interest expenses. The company also said it plans to open 60 new corporate and franchised stores, as well as remodel up to 400 corporate and franchised stores.

Wendy’s net income skyrocketed from $2.1 million to $46.2 million, aided by a $15 million year-over-year reduction in interest expense as a result of the company's 2013 debt restructuring.