Strategy

NORWICH, N.Y. — Chobani founder Hamdi Ulukaya has won the Ernst & Young National Entrepreneur of the Year 2012 Retail and Consumer Products Award. Ulukaya was also awarded the Ernst & Young National Entrepreneur of the Year 2012 Overall Award.

The Ernst & Young Entrepreneur of the Year Award encourages entrepreneurial activity and recognizes leaders and visionaries who demonstrate innovation, financial success and personal commitment as they create and build world-class businesses.

HUDSON, Ohio — Jo-Ann Fabric and Craft Stores has launched a mobile-optimized version of Joann.com, m.joann.com, to facilitate shopping for smartphone users just in time for the holiday shopping season.

Positive same-store sales in 12 of 14 merchandise categories at Lowe’s pushed third-quarter profits up 76%.

Lowe's reported third-quarter net income of $396 million, up 76% from earnings of $225 million a year ago on revenues that increased 2% to $12.07 billion, ahead of consensus estimates of $11.93 billion. Same-store sales increased 1.8%.

Lowe’s president and CEO Robert Niblock called the results solid and said the company is focused on improving execution, delivering value and increasing product differentiation.

NEW YORK — The late Russ Berrie, former CEO and chairman of Russ Berrie & Company, and Judy Ellis, founder of the nation’s first baccalaureate program in toy design, are the newest inductees to the Toy Industry Hall of Fame.

Established in 1984, the Hall of Fame comprises 59 individuals who have been previously recognized for their significant contributions to the growth and success of the toy industry. Berrie and Ellis were nominated from within the toy industry and selected by a vote of TIA members and previous Hall of Fame honorees.

WEST LONG BRANCH, N.J. — Sleep Innovations, designer and manufacturer of memory foam products, has been acquired by an affiliate of Sun Capital Partners. The private investment firm specializes in leveraged buyouts and investments in market-leading companies.

New York -- Federal labor officials said Monday they will decide quickly whether to support a request by Wal-Mart Stores Inc. to stop a union-backed group from pushing worker walk-outs at hundreds of stores on Black Friday, the Associated Press reported.

The chain on Thursday filed a complaint with the National Labor Relations Board to stop OUR Walmart, a group made up of current and former Wal-Mart workers, from holding protests at hundreds of stores.

New York -- Average asking rents on Lower Fifth Avenue in Manhattan rose 13% since the spring of 2012 to $1,021 per square foot (psf) and are up 51% since the same period in 2011, according to The Real Estate Board of New York (REBNY’s) Fall 2012 Retail Report. The study revealed continued signs of improvement in the Manhattan retail market, with high demand and limited availability, which significantly drove up asking rents especially in the most prominent shopping corridors

Indianapolis -- The Finish Line announced the re-launch of Finishline.com with an enhanced focus on the customer.

Finish Line collaborated with several industry innovators on the re-launch. Big Spaceship, a digital agency dedicated to creating connective experiences, products and platforms, and Demandware, a  provider of cloud-based commerce solutions, have worked integrally with Finish Line’s digital and IT teams in the research, re-design and implementation of the site.

Chicago -- Englewood Construction has announced that the firm’s Retail Group recently completed work on the nation’s first Spanx store, and also completed the first American Girl store in the Florida market.

At Tyson’s Corner Center in McLean, Va., just outside of Washington D.C., Spanx opened its first retail location in the U.S.

New York -- Importers and manufacturers who sell to America's major retailers continue to be optimistic regarding a strong fourth quarter and holiday shopping season, according to Capital Business Credit, a non-bank lender that services the retail sector.