eCommerce

Shoppers responding to a recent National Retail Federation survey said they expect to spend slightly less this holiday season in contrast to an earlier economic forecast by the trade group which indicated spending during November and December would rise by 3.9%.

Foothill Ranch, Calif. – The Wet Seal Inc. revising its financial guidance for the third quarter of fiscal 2013 ending November 2, 2013. The company now expects to report a same-store sales increase in the low-single digits, compared to previously forecast mid-single digits, as well as a larger net loss than previously estimated.

Washington, D.C. - Consumers will take a conservative approach to spending this holiday season. According to NRF’s holiday consumer spending survey conducted by Prosper Insights & Analytics, the average holiday shopper will spend $737.95 on gifts, décor, greeting cards and more, 2% less than the $752.24 they actually spent last year.  Despite this reduction in individual holiday budgets, NRF is forecasting holiday sales will increase 3.9% to $602.1 billion.

Chattanooga, Tenn. — CBL & Associates Properties, Inc. has closed on an $80 million non-recourse loan secured by The Outlet Shoppes at Atlanta, a 75/25 joint venture with Horizon Group Properties. The 10-year loan bears a 4.9% fixed interest rate. Proceeds from the loan were used to repay a $53.2 million recourse construction loan. CBL www.cblproperties.com used its share of the remaining funds to reduce outstanding balances on the company’s unsecured credit facilities.

New York -- J.Crew ranked No. 1 overall in customer service in September for the third consecutive month, in a monthly survey by StellaService, the independent ratings provider that ranks online retailers according to their customer service. StellaService measures companies monthly across four service areas: phone, email, shipping and returns.

Here is a look at the top finishers in the four individual categories:

New York — More than half (54%) of shoppers who used a coupon during purchase would not have made the purchase without the deal; in addition, 55% of these shoppers were inspired to shop because they received a coupon. Those are some of takeaways from a recent survey by Tada.com, which offers deals and coupons from more than 5,000 retailers.

Apple has announced that Angela Ahrendts, CEO of Burberry, will be joining the company as SVP of retail and online stores — a newly created position — and as a member of its executive team. Ahrendts will report to CEO Tim Cook.

Ahrendts will be charged with overseeing the strategic direction, expansion and operation of both Apple retail and online stores.

Niwot, Colo. -- Former Wal-Mart executive Greg Sullivan has been appointed general manager of Crocs' Americas region, which includes all of North America, Central America and South America. In this role, Sullivan will be responsible for managing the region's day-to-day operations, including overseeing sales, marketing, finance and human resources functions, as well as the region's wholesale, Internet and direct-to-consumer channels.