News

Suffern, N.Y. -- Ascena Retail Group reported Monday that adjusted net income for the quarter ended Jan. 26 dropped to $42.9 million, compared with $63.7 million in the year-ago period, due in large part to expenses associated with the company’s acquisition of Charming Shoppes.

Sales soared 44% to $1.2 billion from $862 million, driven by the added Lane Bryant and Catherine’s banners. Same-store sales dipped 1%.

New York -- A report released Monday by Ipsos found that affluent optimism in the U.S. economy rose significantly in February.

By Randy Frischer, [email protected]

New York -- A Friday report by Reuters revealed that J.C. Penney CEO Ron Johnson was well aware that the retailer’s deal with Martha Stewart would step on Macy’s toes, but testified in court that the company decided to move forward anyway.

Attorneys for Macy’s in New York state court on Friday presented Johnson with an email he sent to a Penney board member saying that Stewart would have to break her agreement with Macy’s if Johnson was going to “pull off” a deal with her.

Washington, D.C. -- According to published reports, President Obama will nominate Walmart Foundation president Sylvia Mathews Burwell as director of the Office of Management and Budget.

Walmart U.S. president and CEO Bill Simon should have plenty to say when he addresses investors March 5 at the 34th Annual Raymond James Institutional Investors Conference.

^{Simon’s comments precede the Raymond James conference but come roughly two weeks after Walmart reported disappointing top line growth at its U.S. stores by posting 1% comp increase that was at the low end of a forecast range calling for a gain of 1% to 3%. The company also issued a tepid outlook for first quarter growth with comps expected to be flat to up 2%.}

WALTHAM, Mass. — Profitect, provider of software solutions for the retail industry, announced that Daniel Corsten has joined the company’s board of advisors. 

With 4,000 U.S. stores serving as product depots, same day delivery holds great potential for a retailer with an unrivaled retail footprint, assuming a strategy can be developed to profitably unlock the opportunity.

Walmart has experimented with same day delivery on the west coast where order are fulfilled from stores and a broader rollout of the service would seem inevitable at some point in the future given online shoppers desire for immediate gratification.

BOCA RATON, Fla. — DubLi, a global marketing company that provides consumers around the world with a variety of innovative, online shopping and entertainment opportunities, announced that it has strengthened its senior management team with the appointments of Eric Nelson to CFO, Ricardo Daglio to chief technology officer and Thomas Sikora to chief product officer.

Walmart and SunEdison completed three new solar power installations at Walmart stores in Hawaii that are expected to generate huge amounts of electricity.

The three stores in Kahului, Kailua-Kona and Kapolei, double the total number of stores in Hawaii powered by renewable solar energy and join existing installations that are already operational atop the Honolulu Sam’s Club and Mililani Walmart on Oahu, and the Lihue Walmart on Kauai.