News

New York -- The Jones Group Inc. reported Wednesday that net income for the quarter ended June 30 soared 56% to $7.9 million, from $5 million in the year-ago period.

Sales for the parent to such brands as Nine West and Anne Klein dipped 4% to $854.8 million, missing Wall Street’s expected $865.5 million in revenue, but tightened inventory controls offset the sales decline.

Fashion retailer The Limited just got smarter about its purchasing and pricing decisions.

First Insight, a provider of predictive analytics, announced that it had reached an agreement with The Limited to provide predictive analytics for selecting and pricing new products. The company did not elaborate further on the extent of its relationship with The Limited.

Wilmington, Del. -- A survey released Wednesday by Chase Slate with Blueprint revealed that more back-to-school shoppers are carefully managing their spending and borrowing by creating a budget and sticking to it.

Thirty-eight percent report that they have a set budget for school-related expenses; in 2011, only 26% of people had created a budget for their back-to-school shopping. In addition, 32% anticipate their spending on back-to-school shopping this year to reflect pre-recession figures.

LOS ANGELES — Sears is targeting young women with a new career-focused apparel line called Metaphor. The apparel collection, which is scheduled to hit stores in August, will include jackets, trousers, shirts and dresses at reasonable price points, according to the company. The line will be complemented by fashion footwear and jewelry.

Foothill Ranch, Calif. -- One day after releasing its CEO, teen retailer Wet Seal confirmed it is in talks with major shareholder Clinton Group regarding a potential sale of the company.

Wet Seal fired chief executive Susan McGalla on Monday, citing downward spiraling sales during her 11-month tenure. Clinton Group then ramped up its insistence that Wet Seal put itself up for sale.
 

BENTONVILLE, Ark. — Walmart has launched an effort to help diabetes patients save on their disease management products.

Bentonville, Ark. -- Wal-Mart Stores Inc. issued a statement on Tuesday indicating its position on the proposed settlement with Visa and MasterCard over credit card fees.

GOODLETTSVILLE, Tenn. — Dollar General is showing its support for education with a new scholarship and education program for its 90,000 employees and their families.