Finance & Capital Management

Saks Fifth Avenue is expanding further into the specialty store business.

The retailer announced plans to open a 21,000-sq.-ft. store devoted to jewelry and contemporary women’s ready-to-wear in Greenwich, Connecticut. Earlier this year, Saks announced plans to open a standalone shoe store concept, 10022-Shoe, also in Greenwich.

Saks already operates a women’s-only store in Greenwich, which it opened in 1997.

All three of the Saks stores will be in walking distance of one another.

Did Japanese retailer Uniqlo miscalculate its appeal to American shoppers?

The company, a division of Fast Retailing, is moving into the slow lane with regards to its U.S. expansion. Uniqlo now plans to open only five U.S. locations in its current fiscal year, which began on September 1, 2015, after opening 17 in its most recently completed year.

Uniqlo, which has more than 1,600 stores worldwide, operates 43 stores across the United States.

The nation’s leading automotive specialty retailer realigned responsibilities among a trio of senior executives.

Teen apparel and footwear retailer Tilly's has tapped an executive who previously led the company to fill the shoes of Daniel Griesemer who stepped down as president, CEO and a member of the board effective Oct. 7.

Ascena Retail Group named a new executive to lead its recently acquired Ann Inc. division.

Ross Dress for Less will open a new store in Dulles Landing, Virginia on Oct. 10.

The 25,000-sq.-ft. store is located in the Dulles Landing Shopping Center, adjacent to the Washington-Dulles International Airport.

The opening is part of the retailer’s 2015 expansion program, totaling approximately 70 new locations during the year.

The same day that TJX announced the retirement of its CEO, Ascena Retail Group named a new executive to lead its recently acquired Ann Inc. division.
 

The National Retail Federation issued an above average holiday season sales forecast in which the desire of Americans to spend will be offset by their ability to do so.

The trade group projects that total holiday sales will increase 3.7% to $630.5 billion during the November time-frame and that online sales would increase between 6% and 8% to represent $108 billion of the total.