News

Playing in the value priced fashion space is a challenging proposition and one of the leaders in the segment doesn’t expect conditions to get easier this year.

The Cato Corporation, operator of 1,320 stores focused on value conscious shoppers, had a challenging fourth quarter like a lot of retailers and chairman, ceo and president John Cato expects the pain could linger this year.

Bentonville, Ark. – Wal-Mart is offering its largest outdoor living, lawn and garden event of the year, featuring Black Friday-like prices. Starting at 8 a.m. on March 21, through March 29, Walmart’s Spring Savings Event will offer its lowest prices of the season on more than 60 outdoor essentials.

Wal-Mart’s Spring Savings Event will include $1.97 per bag red, black or brown mulch as well as brand-name lawn mowers and grills for less.

Grand Rapids, Mich. -- Meijer has added features to its mPerks program that allows customers to store digital receipts from purchases in a single place and details exactly how much they've saved by shopping at the Grand Rapids, Mich.-based retailer. The new features are available for subscribers who enable the digital receipts option on their accounts and enter their mPerks ID each time at checkout.  

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.

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.

Most American’s missed seeing amputee Evan Strong win gold at the Paralympics in Sochi as Russian aggression toward Crimea and the Ukraine overshadowed the games. However, Strong gains another type of notoriety this Spring when he becomes the first para-athlete to grace the front of a Wheaties box.

Shelton, Conn. – Executive consumers seek easier ordering when they shop online. According to a survey of 50 high-level executives who attended the Microsoft Dynamics Convergence Conference March 4-7 by EDI and e-commerce integrator Logicbroker, nearly three-quarters (72%) of respondents said that ease of ordering is the most important part of the online ordering process.

One-third (33%) said that better communication is the area that e-commerce companies have the most potential to improve.

Fremont, Calif. -- The Men's Wearhouse has extended the expiration date of its tender offer for all outstanding common shares of Jos. A. Bank, in accordance with terms of the March 11 merger agreement. The offer and withdrawal rights are now scheduled to expire on April 9, 2014, unless further extended.