Discount Store

Suffern, N.Y. -- Ascena Retail's net income plunged 94% in its fiscal fourth quarter, dragged down by costs related to its acquisition of Charming Shoppes Inc. Its adjusted earnings topped Wall Street's view.

Ascena, owners of the Dressbarn, Maurices and Justice, announced in May that it was buying Charming Shoppes, whose divisions include Lane Bryant, Fashion Bug and Catherines Plus for approximately $890 million. Ascena is in the process of closing Fashion Bug's stores.

Chestnut Hill, Mass. -- WS Capital Partners, the institutional investment arm of WS Development, announced that it has completed the acquisition of Hilldale Shopping Center, a 474,000-sq.-ft. retail center located in Madison, Wis.

Anchored by Macy’s, Metcalfe’s Market, Sundance Cinemas and Target, Hilldale Shopping Center serves the entire Madison metropolitan area, including the nearby University of Wisconsin-Madison.

New York -- Survey results released Tuesday by WSL/Strategic Retail found that Canada represents a strong expansion opportunity for U.S. retailers.
 
The “How Canada Shops” research study revealed that 64% of Canadians can still afford to shop beyond the basics – versus half of Americans, who say they cannot.



BENTONVILLE, Ark. — Walmart has launched part of its Fighting Hunger Together fall initiative to provide meals to communities in need.

Orchids Paper Products Company was recognized as Dollar General’s private label vendor of the year at the retailer’s annual vendor summit.

Orchids said it received the award in recognition of its innovation, dependability and excellence in its partnership with Dollar General.　

MEMPHIS — Fred's on Friday launched a holiday layaway plan featuring no fees and a down payment of only $1.

"Fred’s realizes that the current economy presents difficult challenges to its customers and Fred's wants to offer as much assistance as it can," Fred's SVP sales and marketing Dave Mueller said. "That’s why we came up with a layaway plan that — with just one dollar down and absolutely no fees — is unlike any others and will stretch shoppers’ dollars during a time when it will be most welcome."

Arlington, Va. -- The Retail Industry Leaders Association (RILA) said Friday it is applauding the impending implementation of sales tax fairness in California, which stands to even the playing field between bricks-and-mortar retailers and online competitors.

Matthews, N.C. -- Family Dollar Stores said Wednesday it plans to settle a class-action matter with more than 1,700 New York store managers who filed suit on claims of unpaid overtime wages.

The preliminary settlement provides for a maximum payment of $14 million by Family Dollar. Settlement terms are pending court approval, and the discounter plans to record a fourth quarter charge to cover the costs.