News

Women’s apparel retailer Cato has made its debut into the world of online shopping with the launch of its first ever e-commerce site. The announcement came as the retailer reported holiday sales for the five-week period ended Jan. 4.
 
Founded in 1946, Cato operates approximately 1,100 apparel and accessories specialty stores throughout the United States. With so many brick-and-mortar locations, the ability to supplement in-store inventory with an e-commerce strategy geared toward a new generation of connected shoppers became crucial for continued growth.

Phoenix – Manthan Systems is introducing its ARC Pricing Optimization application. ARC Pricing Optimization offers capabilities designed specifically for the retail environment and is a part of the company’s latest release of its ARC Merchandise Analytic application, MA6.4
Specific capabilities include:

Auto Recommendation: Identify products at group or individual store level that are candidates for price changes based on performance objectives and pricing strategies.

Schnuck Markets chairman and CEO Scott Schnuck plans to transfer the latter title in March to his brother, president and COO Todd Schnuck.

Todd Schnuck will become president and CEO of the family-owned supermarket chain in March, while Scott Schnuck will remain chairman and assist in the transition through September. Meanwhile, Craig Schnuck will formally retire from the company and become chairman emeritus. Todd Schnuck originally began working at the company in 1987 as treasurer and served as corporate VP and CFO before becoming president and COO.

New York – Barnes & Noble reported decreases in revenue for both its retail and Nook segments during the nine-week 2013 holiday season as compared to the same period in the prior year. The retail segment, which consists of the Barnes & Noble bookstores and BN.com, had revenues of $1.1 billion, decreasing 6.6% from the prior year.

L’Oréal Paris has tapped celebrity hairstylist Mara Roszak to lend her expertise for product development, content creation, consumer education and creating trendsetting hairstyles for L’Oréal Paris spokespeople.

Her Hollywood client list includes Emma Stone, Lily Collins, Mila Kunis, Zoe Saldana and Kat Dennings.

Union, N.J. -- Bed Bath & Beyond Inc.’s third quarter net earnings rose to $237.2 million, less than Wall Street expected, from $232.8 million in the year-ago period, as higher costs and expenses impacted sales growth. The company trimmed its full-year earnings outlook.

Revenue for the three months ended Nov. 30 rose 6% to $2.87 billion, from $2.7 billion. Same-store sales increased 1.3%.

David Glass has kept such a low public profile since stepping down as Walmart president and CEO it was surprising to see his name pop up as the featured speaker at an upcoming event in Northwest Arkansas.

Glass stepped down as CEO of Walmart nearly 15 years ago and he’s scarcely been heard from since, leaving those newer to the company to know him largely as the guy after whom the company’s massive information technology building is named.

You’ve got to hand it to Amazon.com. While consistently turning a profit has eluded Amazon for the past 18 years, the company has consistently taken a lead in disrupting retail. Whether it’s inventing e-commerce as a mainstream B2C transactional channel, taking a leading role in hosted cloud services with Amazon Web Services or helping to usher in the tablet era with Kindle e-readers, Amazon.com has never been afraid to do things in a way that alters how retail business is conducted.