Retail

New York -- After nearly three weeks of testimony, a New York State Supreme Court Judge ordered Macy's, J.C. Penney Co. and Martha Stewart Living Omnimedia into mediation to try and reach a settlement in their contract dispute trial.
 
If the three companies do not reach an agreement before April 8, the judge will resume hearing the case.
 
In another development in the ongoing dispute, Penney agreed not to sell certain Martha Stewart-designed goods (products deemed exclusive to Macy’s) until at least April 8.

Wendy's is rolling out its updated image and new store environment to some 200 locations this year. Features include lounge seating, fireplaces and digital menuboards. The re-imaged restaurants have shown an average 25% increase in sales over the prior year.  Learn more.

Design and rebranding: Tesser, San Francisco

New York -- Ann Inc., parent of Ann Taylor and Loft, said Friday that its fourth-quarter profit rose to a better-than-expected $2.37 million from $2.18 million a year earlier.

Sales rose 7.2% to $607.7 million. Total company store- sales for the quarter decreased 0.7%. By brand, same-store sales increased 1.4% across the Ann Taylor brand and fell 2.1% across the Loft brand.

New York -- Leslie Dach, EVP corporate affairs for Wal-Mart Stores, will step down in June. The retailer, which announced the news in a memo to employees, said it is actively searching for a replacement. The news was first reported by Politico.

"Leslie has played a pivotal role in helping us understand the broader role Walmart can play in meeting the major challenges facing society today, and social goals are now an integral part of how we run our business," Wal-Mart chief executive Mike Duke in the memo.

New York -- Foot Locker Inc. on Friday said its fourth quarter profit rose to $104 million from $81 million a year earlier.

Sales jumped 14% to $1.71 billion, including the benefit of an extra week. Same-store sales rose 7.9%.

For fiscal year 2012, which included 53 weeks, the company reported net income of $397 million, compared to $278 million a year earlier.

Total sales increased 9.9% in 2012 to $6.182 million, compared with sales of $5.623 million last year. Same-store sales were up 9.4% in 2012.

Virginia Beach, Va. -- Divaris Real Estate announced Wednesday that six new stores totaling 57,434 sq. ft. will open at the company’s Pembroke Mall property, located in Virginia Beach, Va.

City of Industry, Calif. -- Hot Topic announced it has agreed to be acquired by New York-based private equity firm Sycamore Partners for $14.00 per share in cash, or a total of approximately $600 million.

The agreement, unanimously approved by Hot Topic’s board of directors, represents a premium of approximately 30% over Hot Topic’s closing stock price on March 6, 2013.

Bentonville, Ark. -- Wal-Mart Stores on Thursday launched a new section on its website dedicated to products from small, women-owned businesses around the world.  

More than 200 items from 19 businesses in nine countries are featured in the new "Empowering Women Together" section of Walmart.com. The launch comes a day before International Women's Day.