Traffic and conversion troubles led to a disappointing performance by fashion retailer Bebe Stores in the second quarter. For the period ended Jan. 2, the company reported a loss of $5.5 million.
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Off-pricer to make Canadian debut
Nordstrom continues to expand north of the border.
The retailer announced that its Nordstrom Rack off-price division will open its first Canadian location, in Toronto, in 2018.
The 38,600-sq.-ft. store will be located at One Bloor in Yorkville, on the southeast corner of Yonge Street and Bloor Street, a well-known shopping district in Toronto. It will be approximately one mile north of the Nordstrom full-line store, which is scheduled to open in September 2016 at CF Eaton Centre.
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Comps fall for Bebe Stores in Q2
Traffic and conversion troubles led to a same store sales decrease for fashion retailer Bebe in the second quarter.
For the period ended Jan. 2, net sales decreased 5% to $122.4 million, as compared to $128.9 million in the second quarter of fiscal 2015. The net sales decrease was primarily driven by a comp decrease and store closures. Same store sales decreased 2.5% compared to an increase of 8% in the same period of the prior year. Traffic and conversion declined while average unit retail was flat.
