Department Store

If there was a single theme at the recently concluded ICSC Deal Making Conference in New York City, it was “possibilities.” New projects, new ideas, new trends and a sense of optimism were on display.

Weak traffic at Saks 5th Avenue stores did not keep Hudson's Bay Company from reporting higher sales and profit in the third quarter.

For the third quarter ended Oct. 31, the company posted a profit of $1 million, compared with a $13 million loss a year earlier. Total sales increased 34% to $2.57 billion, up from $1.91 billion. Consolidated sales growth was 34.1%, up $653 million from prior year with same-store sales growth of 12.9%. But Saks Fifth Avenue logged a same store sales decrease of 3.6%.

The demise of physical stores has become a familiar narrative during the holiday season, but nothing could be further from the truth according to one man better positioned than most to know.

Walmart confirmed that its CMO, Stephen Quinn, who had held executive marketing positions with the chain for 10 years, will retire in January.

Michael Francis, Target Corp.'s former marketing guru, has been hired as a consultant. Francis spent 26 years at Target and most recently served as global brand officer for DreamWorks Animation. In August, he announced that he planned to step down from Dreamworks.

Industry estimates show in-store conversion rates (percentage of visitors who take the desired action to purchase) are below 30% and dropping. This means 70% of store visitors leave without buying. Never before has there been greater competition for sales and a smarter, more connected consumer base.

The Ascena Retail Group is adding a seasoned retail CEO and a legal expert to its board of directors.

The parent company of Ann Taylor Loft, Ann and other banners announced three changes to its board of directors on Friday. Board member Klaus Eppler is retiring and Carl (“Chuck”) Rubin and Steven L. Kirshenbaum are joining the board.

Women’s lifestyle retailer Soft Surroundings brings its brand to life at Kierland Commons, in Scottsdale, Arizona.

Designed by JGA, Southland, Michigan, the 4,000-sq.-ft. store has a relaxed, inviting feel. Merchandise is featured in lifestyle displays reminiscent of a home environment. Custom decorated fitting rooms are highlighted with crafted chandeliers, oversized mirrors and unique seating.

Former Target CMO Michael Francis will reportedly serve as a marketing consultant at Walmart when the retailer’s current CMO steps down.

The Wall Street Journal reported that Stephen Quinn will retire as executive VP and CMO in January after spending nearly a decade at the Walmart. Francis, who spent 27 years with Target, is expected to join Walmart to initiate a broad marketing revamp and work closely with Quinn’s successor, The Journal said, citing a person it said was familiar with the situation.