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Verizon: Cyber Monday brings retailers gloom
New York – Cyber Monday lived up to the reputation of the gloomy start of the work week, with Internet traffic attributed to online consumer retail shopping activities decreasing 25 points from the prior day. According to the Verizon Retail Index, year-over-year, Cyber Monday’s results were down six points compared to Cyber Monday in 2013.
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Ascena Retail Group profit tops estimate; online sales surge
Mahwah, New Jersey - Ascena Retail Group’s first quarter profit topped estimates as strong online growth helped make up for falling same-store sales. The company, which operates the Lane Bryant, Cacique, Maurices, Dressbarn, Catherines, Justice and Brothers brands, reported net income of $53.5 million, compared to $52.6 million in the year-ago period.
Net sales of $1.2 billion for the first quarter were flat compared to the year-ago period. Same-store sales fell 4% while online sales surged 16%.
