Strategy

Few people in the food industry know the name Denzel McGuire, but that’s about to change as she just became the industry’s best friend in the nation’s capital.

McGuire has been named EVP of government relations at the Grocery Manufacturers Association, which is a big deal considering the food industry is under relentless pressure and regulatory scrutiny. GMA needs a strong voice and a connected presence in the nation’s capital to represent the interests of its members and McGuire fits the bill on both fronts, according to GMA President and CEO Pam Bailey.

Daytona Beach, Florida - One Daytona, the proposed mixed-use and entertainment destination across from Daytona International Speedway in east Central Florida, began early site work November 24, according to joint-venture owners International Speedway Corp. and Jacoby Development. The work underway includes phase one infrastructure improvements by P&S Paving.

Houston - Mattress Firm Holdings met Wall Street expectations with its financial performance in the third quarter of fiscal 2014. In addition, the company increased its guidance for store growth in the fiscal year 2014, and now plans to have opened a total of 200-220 new stores and acquire 665 stores by the end of the fiscal year.

The new store total includes 163 stores opened and 619 acquired so far this year.

Washington, D.C. – In-store sales were down from Thanksgiving Day through Black Friday, but the culprit may have been early holiday shopping more than lackluster consumer interest. According to the Applied Predictive Technologies (APT) Index of U.S. same-store sales, in-store sales dropped 5.8% during that two-day period compared to the previous year.

NEW YORK - New York City retailer Hammacher Schlemmer is pioneering what may well be the next evolution of catalog shopping with the launch of what it describes as the “first augmented reality catolog.”

"It's the next best thing to visiting our landmark Manhattan store in person," said Rich Tinberg, Hammacher Schlemmer's CEO.

Healthy e-commerce growth offset a sales slowdown at Ascena Retail Group’s physical stores and enabled the company to achieve its first quarter financial expectations.

Ascena, operator of stores under the Lane Bryant, Cacique, Maurices, Dressbarn, Catherines, Justice and Brothers brands, said same store sales declined 2% during its first quarter ended Oct. 25 as a 16% comp increase online wasn’t enough to offset a 4% decline at physical stores.

In an effort to bolster its online presence, Loehmann’s has appointed a digital retail expert to join its advisory board. Tony D'Annibale, president of Jessica's Brands, will work with the board and the management team during the Loehmann’s re-launch as an online retailer.

Evansville, Ind. – Net income dipped to $10.8 million in the third quarter of fiscal 2014 from $10.9 million the same period the prior fiscal year. Net sales fared better, climbing 7% to $254.69 million from $235.77 million, ahead of previously issued guidance.