Sales & Marketing

Charlotte, N.C. – The Cato Corporation cited weather, holiday promotions and a 53rd week in fiscal 2012 as impacting its net income during the fourth quarter of fiscal 2013. The retailer also said it plans to open 64 new stores and close 17 existing stores during fiscal 2014.

Net income fell 52% to $3.8 million from $7.9 million in the same period the prior year, within previously announced guidance range, while sales dropped 7% to $215.2 million from $232 million.

Seattle – Starbucks reportedly plans to expand a pilot of an evening alcohol and “light bites” menu that includes wine to thousands of stores nationwide. According to Bloomberg, Starbucks executives said the evening food and drink offerings, currently provided in about 40 test stores, will be rolled out during the next several years.

With technology continuing to reshape the store experience, global retail real estate leader Simon Property Group is upping its digital game with the creation of a new venture capital group.

The company, which owns or has an interest in 325 retail properties encompassing 243 million square feet, has created Simon Ventures Group for the purpose of investing in retail innovation focused on opportunities that enhance the shopping experience.

New York — Warby Parker, the hip eyeglass brand, has leased the iconic retail space on the southeast corner of the intersection of Lexington Avenue and 82nd Street in the Upper East Side.

Winick Realty Group (www.winick.com) represented the landlord Samy Mahfar of SMA Equities in the transaction. Thor High Street Advisors represented Warby Parker.

New York -- Net-A-Porter.com topped all competitors across all retail verticals for customer service in February, according to Stella Benchmarks. The retailer was particularly strong in fulfillment, besting all other retailers in both shipping and returns.

Net-A-Porter.com provided a pre-paid, adhesive return label in all orders handled by StellaService analysts. In addition, Net-A-Porter.com issued refunds in less than a week on average.

New York -- Express Inc. is opening its largest location in Times Square, N.Y. on March 25. The Times Square store is located in the landmark I. Miller building distinguished by its marbled frame and statues of iconic actresses including Marilyn Miller and Mary Pickford.

With more than 28,000 sq. ft., the location features imagery boxes, LED walls and screens, interactive iPads, mobile points-of-sale, and on-site charging stations to enhance the shopping experience.

Canton, Mass. -- Dunkin' Brands, the parent company of Dunkin' Donuts and Baskin-Robbins, has signed a multi-unit store development agreement with new franchise group, BG&E Investments, to develop five Dunkin' Donuts restaurants and one Dunkin' Donuts/Baskin-Robbins combination location throughout East Texas. The first restaurant is planned to open in summer 2014, and the remainder by 2018.

Personalized weather provider Poncho has developed an innovative way to monetize its content through a shopper marketing initiative with the Duane Reade division of Walgreens.

In a pilot program with Duane Reade, users of the Poncho service who sign up to receive weather updates tailored to their preferences via text or email will also receive promotional incentives from Duane Reade. The program is targeted to New York metropolitan area consumers where Duane Reade’s more than 250 stores are concentrated.