News

Ascena Retail Group Inc., which operates apparel stores under the Ann Taylor, Loft, Lane Bryant and other banners, on Monday reported fiscal fourth-quarter earnings worse than Wall Street expected and also gave weaker-than-expected guidance for fiscal 2017.   The parent company of Lane Bryant, Ann, Justice and other apparel banners reported net income of $13.8 million, after reporting a loss in the same period a year earlier.  

MarineMax, the nation’s largest recreational boat and yacht retailer, has promoted longtime associate Brett McGill to COO, effective October 1, 2016.   McGill has served as executive VP operations at MarineMax since October 1, 2015 after serving as VP of West operations since May 2012. He began his career with MarineMax at its formation in 1998 and served in several roles with the company in positions that included director of information services and eventually VP of information technology, service and arts, before 

The nation’s improving job market has a down side for the retail industry, particularly as the crucial holiday season arrives.   With the U.S. employment rate declining and minimum wages rising, it’s getting more challenging and more expensive for retailers to attract the best workers, reported CNBC.  

Photo: Vidya Jwala   Overstock.com has nabbed a Walmart VP.   The online retailer named Vidya Jwala as senior VP of demand fulfillment, responsible for overseeing the e-commerce leader’s sourcing, merchandising, supply chain and customer-care businesses.   Jwala joins Overstock from Walmart, where, as VP of merchandising and operations, he focused on merchandising planning, category management, pricing and costing.  

Consumers’ new ‘buy now, wear now’ mentality it putting them at odds with retailers, many of whom are already pushing outerwear and other cold weather gear.    

A South African-based company is now the owner of the largest mattress retailer in the United States.   Steinhoff International Holdings NV announced it completed its acquisition of Mattress Firm Holding Corp.    As a result of the completion of the transaction, which was first announced in August, Mattress Firm’s common stock will no longer be traded on the NASDAQ stock market.  

Restoration Hardware Holdings has entered the Austin market with the latest generation of its design gallery store format.   The new RH Austin, The Gallery includes an entire floor dedicated to the retailer’s new RH Modern concept, with an integrated contemporary art gallery.    It also includes an interactive design atelier, a professional workspace that allows customers, designers and architects to conceptualize and customize a home.  

Shoppers can view and try out — but not buy — the innovative product line up from Toto at its new showroom space in New York City.    The world's largest plumbing manufacturer is opening a high-design, experiential gallery to display its innovative bath products in Manhattan’s Flatiron district, the heart of the city's home design industry.   

John Douglas has been named chief technology officer at Tory Burch LLC.   In this newly created position, Douglas will be responsible for leading the company’s global technology and IT functions.   Previously, Douglas was the CIO with MCM Fashion Group. Prior to that position, he spent nine years as CTO at Burberry.  

Petco appointed retail veteran John Zavada as senior VP and CIO.   In his new position, Zavada will lead Petco's information technology strategies, teams and projects, including the company's business process optimization and enterprise program management office.    Prior to joining Petco, Zavada served as senior VP and CIO at Restoration Hardware. He also held CIO positions at Guitar Center, Big Lots, Limited Inc., and Victoria's Secret Stores.