Strategy

New York -- Eminence Capital which owns 9.8% of the common stock of The Men's Wearhouse and is its single largest shareholder, on Wednesday released a presentation describing why Men’s Wearhouse board of directors should engage in merger discussions with Jos. A. Bank Clothiers, Inc. Eminence Capital also said that it has retained Moelis & Company as a strategic advisor.

City of Commerce, Calif. — 99¢ Only Stores will celebrate the grand opening of its new store in Menifee, Calif., by selling Westinghouse 40-inch flat-screen TVs for just 99 cents to the first nine customers in line.

The 18,000-sq.-ft. store will feature a perishable food department with produce, dairy and frozen foods. 99¢ Only Stores currently operates 335 stores in California, Texas, Arizona and Nevada.

Austin, Texas — Jones Lang LaSalle has announced the addition of seven brokerage experts to its national program. Austin McWilliams joined the firm as a senior VP; Travis Sawvell and Jon Switzer joined as VPs, and Katie Carlisle joined as an associate, all based in Austin. Their additions come on the heels of the firm’s newly formed Austin Retail Brokerage practice led by newcomers Todd Wallace and Robert O’Farrell.  

Philadelphia — Pennsylvania Real Estate Investment Trust has completed the sale of Chambersburg Mall in Chambersburg, Pa., for $8.8 million.The sale marks another step in PREIT’s continuing effort to improve the quality of its portfolio through the sale of non-core assets. Net proceeds from the transaction totaled approximately $8.4 million.

Home improvement retailers are reaping the rewards of a healthier housing market and so is Williams-Sonoma. The company reported strong third quarter results and raised its fourth quarter outlook as a result.

Comparable brand revenue growth in the quarter increased 8.2% on top of 8.5% in the year-ago quarter. The company saw revenue growth across all its brands, but results were primarily driven by West Elm, which saw revenue jump 22.2% compared to 13% last year, and PBteen, which saw revenue jump 16.7%, compared to 2% last year.

Walnut Creek, Calif. – Retail merchandisers are expressing a pragmatic need for speed in future merchandising applications. According to a new study from RSR Research, “Merchandising Today: Benchmark 2013, 28%” top-performing retail “winners” are already investigating simplifying their IT environments with cloud-based merchandising technology.

By Sven Hammar, co-founder and CEO, Apica

Recent public and embarrassing website crashes of Amazon, Groupon and even Google accentuates the need to take web and mobile performance more seriously. Unresponsive websites and mobile applications is comparable to a physical shop throwing out its customers and locking its doors. Luckily, there are ways to minimize the risk of slow response times and site crashes.

Strong retail sales in the month of October point to a good holiday sales season ahead. According to the National Retail Federation, October retail sales, excluding automobiles, gas stations and restaurants, increased 2.5% seasonally adjusted over September, and 4.2% unadjusted from 2012.

In a broader view, October retail sales released Wednesday by the U.S. Census Bureau, which include non-general merchandise categories such as automobiles, gasoline stations, and restaurants, increased 0.4% seasonally adjusted month-to-month, and 3.9% adjusted year-over-year.