Maurices adds stores for holiday cheer
The Maurices division of Ascena Retail Group is rolling toward a footprint of more than 1,000 locations with a new round of stores opening in advance of the holidays.
Maurices plans to open sixteen locations before November 10 giving the Ascena subsidiary a total of 938 locations. The company contends the U.S. and Canada can support more than 1,300 locations.
"We're excited to open these stores in time for busy holiday shoppers," said George Goldfarb, president of Maurices. “This season is all about making sure the customer gets what she wants, how she wants it. We're investing in omnichannel marketing with mobile, social commerce and e-commerce initiatives and with the rollout of maurices inMOTION to all stores, we are her one-stop shop for fulfilling her wishlist."
Maurices inMOTION is the name of the retailer’s recently launched activewear line. The company positions itself in the marketplace as offering real girls real style that fits their real lives.
In addition to Maurices, Ascena Retail Group operates stores under the banners of Justice, Lane Bryant, Dressbarn and Catherines.
Survey: Two in three Americans limit spending
New York— Two-thirds of Americans are limiting how much they spend each month. According to a new Bankrate.com report, of those limiting their monthly spending, 32% cite stagnant income as the main reason and 29% cite the need to save more.
Worries about the economy are a distant third at 16%. Americans between the ages of 30 and 49 are the most likely to limit their monthly spending, which Bankrate.com says perhaps due to the fact that these are the prime home-buying, car-owning and child-rearing years.
Senior citizens are the most likely to note stagnant income, at almost three times the rate of 18-29 year-olds. This is particularly the case for senior citizens who depend on a fixed income that continues to be plagued by record-low interest rates. Senior citizens are also more likely to worry about the economy than any other age group.
Millennials (18-29 year-olds) are the most likely to cite “need to save more” as their primary reason for holding back spending. This explanation is less common as age increases. Interestingly, the need to save more is more a common response at higher levels of income than at lower levels, although it is one of the top two reasons cited in both instances.
Bankrate’s Financial Security Index increased for the second month in a row, rising to 101.0. This is the highest reading since June 2014. Readings above 100 indicate improved financial security compared to the year before. The Financial Security Index has been above 100 in eight of the first 10 months in 2014.
Domino’s promotes three execs
Ann Arbor, Mich.-– Domino’s Pizza Inc. named Richard E. Allison, 47, president, Domino's International.
Allison has been with the company since 2011 and has led its international division since that time, succeeding Michael T. Lawton, current CFO, who ran the division prior to Allison. Prior to Domino's, Allison spent more than 13 years at Bain & Company, where he was a partner and co-leader of the firm's restaurant practice.
In other appointments, Russell J. Weiner, 46, has been named president, Domino's U.S.A. Weiner joined Domino's in 2008 from PepsiCo, where he was head of the Pepsi brand. In his role as chief marketing officer, he led the Domino's brand turnaround, spurred by the re-launch of its core pizza recipe. Weiner will now be responsible for all domestic franchise and corporate store operations, in addition to U.S. marketing.
Michael T. Lawton, 55, CFO, will assume the additional responsibilities of the company's supply chain division. Lawton, who has been with Domino's since 1999, has served in both key financial and operational roles for the company, including leading its international business for six years. Prior to Domino's, Lawton served in both finance and general management roles for Gerber Products Co.
Allison, Weiner and Lawton will each continue to report directly to president and CEO J. Patrick Doyle in their new roles.