News

New York -- Plus-sized retailer Ashley Stewart has filed for voluntary Chapter 11 bankruptcy protection. As part of its restructuring plan, the company announced it will immediately close 27 underperforming locations. Ashley Stewart currently operates some 168 stores. The company previously filed Chapter 11 in 2010.

In a separate statement, the company said potential buyers have expressed interest in buying the chain.

New York -- Ending a five-month saga, Men's Wearhouse said it would acquire Jos. A. Bank Clothiers for about $1.8 billion, or $65 per share in cash. As part of the deal, Jos. A. Bank will terminate its plan to acquire Eddie Bauer from Golden Gate Capital.
 
The boards of both companies unanimously  approved the transaction.

Lay's potato chips has issued a last call for submissions in its search for its next potato chip flavor. Fans now have less than a month to submit their "Do Us A Flavor" contest submissions for a chance to win a $1 million grand prize.  

Submissions are open on www.dousaflavor.com until 11:59:59 p.m. (EST) Saturday, April 5. This marks the second time the Lay's "Do Us A Flavor" contest has been held in the U.S.

The phrase “game-changing” is arguably the most overused in business, but a strategic alliance that IRI president and CEO Andrew Appel announced this week actually fits the bill.

During introductory remarks at IRI’s annual summit, Appel shared with the more than 1,000 attendees gathered in Orland details of a huge data sharing partnership between IRI, comScore and Rentrak.

“Far and away, this is the biggest innovation IRI has done in the past 15 years,” Appel said.

Pittsburgh -- American Eagle Outfitters Inc.'s fourth-quarter profit plunged 89% on lower sales and one-time charges related to employee severance costs, the discontinuation of a product line and other items. The company also forecast first-quarter results that were below analysts' estimates.

The teen apparel retailer posted net income of $10.5 million for the quarter ended Feb.1, down from $94.8 million in the year-ago period.

Sales were $1 billion in the quarter, down from $1.1 billion last year. Same-store sales fell 7%.

New York -- Dick’s Sporting Goods reported consolidated net income of $138.6 million, for the 13-week period ended Feb. 1. Results also exceeded the company’s performance in last year’s fourth quarter, which had an additional week. For the 14-week period ended Feb. 2, 2013, the company reported consolidated net income of $129.7 million.

Campaigns on the social platform get results, according to Erin Hunter, global head of CPG strategy at Facebook, assuming they involve great creativity and speak to shoppers in the right voice.

New Albany, Ohio – Abercrombie & Fitch Co. reportedly plans to shift its marketing and merchandising focus from teens to college students. According to Bloomberg, Abercrombie executives said they will shift marketing, assortments and pricing to appeal to the collegiate market.