Department Store

Suffern, N.Y. -- David Jaffe, president and CEO of Ascena Retail Group, has been named the National EY (Ernst & Young) Entrepreneur of the Year Family Business Award of Excellence winner, recognized for building a company with multiple retail brands.

New York — The early bird rate for Chain Store Age's 32nd annual Retail Store of the Year design competition ends on Nov. 29. Retailers, design firms, architects and suppliers are invited to submit entries for the competition, whose regular deadline for submission is December 23, 2013.

Bentonville, Ark. – Wal-Mart Stores said Mike Duke will retire as president and CEO, effective Feb. 1, 2014, and will be replaced by veteran company executive Doug McMillon. McMillon, 47, president and CEO of Walmart International, was also named to Wal-Mart’s board, effective immediately.

Higher sales, including mid-single digit comparable -sales growth, helped drive Ann Inc.’s third quarter results.  

The company posted third-quarter earnings of $41.2 million, compared to $40.7 million in the year-earlier quarter. Net sales grew 7% to $657.3 million from $612.5 million. Total same-store sales increased 3.7%. By brand, same-store sales inched up 0.6% at Ann Taylor and 5.6% at Loft. However, sales fell 6.9% in the Ann Taylor Factory channel.

New York – Ann Inc. reported better-than-expected income and sales for the third quarter. The retailer Ann Inc. posted third-quarter earnings of $41.2 million, compared to $40.7 million in the year-earlier quarter.  

Net sales grew 7% to $657.3 million from $612.5 million. Total same-store sales increased 3.7%. By brand, same-store sales inched up 0.6% at Ann Taylor and 5.6% at Loft. However, sales fell 6.9% in the Ann Taylor Factory channel.

Columbus, Ohio -- Despite the growing popularity of online shopping, millions of consumers will flock to the stores this Black Friday. According to a recent study from WD Partners, "Amazon Can't Do That: Consumer Desire & the Store of the Future,” 79% of consumers rank instant ownership as a top factor in influencing how they shop.

Other store-friendly top influencers include sensory experience and product immersion (75%), emotional experience of interacting with live human beings, community, and personal service.

Chicago -- Using new traffic forecasting metholdology, ShopperTrak now forecasts that 10% fewer shoppers will visit brick-and-mortar stores in the holiday months of November and December as compared to last year. In September, the company has projected a 1.4% decline in traffic.