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New Era opens flagship in Japan
Buffalo, N.Y. -- Headwear and apparel retailer New Era said Thursday it will expand its international presence with the opening of New Era Tokyo on Feb. 26.
The 1,100-sq.-ft. store, the retailer’s eighth global store, is located in Harajuku.
"We're focused on growing our retail presence internationally so having a flagship store in Japan's main city is really exciting," said Matthew Reeves, New Era Japan's managing director.
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Limited reports 27% profit surge
COLUMBUS, Ohio -- Limited Brands reported Thursday that its jumped 27% to $452.3 million in the fourth quarter, compared with $356.1 million in the year-ago period, on strong sales and healthy margins.
The parent to Victoria's Secret and Bath & Body Works previously announced that revenues for the quarter ended Jan. 29 rose 13% to $3.46 billion, beating Wall Street's estimate. Same-store sales increased 10%.
For the full year, net sales were $9.613 billion compared with net sales of $8.632 billion last year. Same-store sales rose 9%.