Strategy

Saks Fifth Avenue Off 5th continues to expand north of the border.

The off-price retailer and Ivanhoé Cambridge announced an agreement to bring four new Saks Off 5th locations to Canada. The stores, the brand’s first in their respective markets, will open in four Ivanhoé Cambridge shopping centers: Tsawwassen Mills, Tsawwassen, B.C., Outlet Collection Winnipeg; Place Ste-Foy, Quebec City; and Montreal Eaton Centre, Montreal.

Here are the details on the four locations:

The chief executives of H&M, Gap Inc. and five other apparel companies are urging world leaders to agree to a strong climate change deal because they fear global warming will drive up their costs by having a negative impact on cotton production, Reuters reported. [Reuters]

Dallas -- Trademark Property Co. begins construction on the unfinished parking garage at Victory Park in Dallas.

The construction is part of phase I redevelopment efforts and will add an additional 22,030 sq. ft. of street-level retail and restaurant space to Victory Park, as well as, a 2,600-sq.-ft. second-floor covered patio connected to a signature restaurant at the northeast corner of the garage, making two sided retail on Victory Park Lane a reality with in downtown Dallas. Completion is slated for summer 2016.

Dan Berthiaume, senior editor of Chain Store Age, recently participated in a one-hour panel discussion, “Game-Changers 2016 Predictions – Part 1,” sponsored by SAP as part of its “Coffee Break with Game-Changers” Internet radio series.

Sears Holdings Corp. is doing a much better job at cutting costs than at stopping its sales decline.

The retailer’s total revenue in the third quarter, ended Oct. 31, fell 20% to $5.75 billion, from $7.21 billion in the year-ago period, amid store closings and divestitures and a drop in apparel and consumer electronics sales. (Sears had 1,687 stores at the end of the quarter, down from 2,249 a year earlier.)

Total same-store sales were down 8.6%. Kmart same-store sales declined 7.5%. Sears domestic same-store sales fell 9.6%.

Michaels says its new marketing and merchandising strategies are resonating with customers, as the arts and crafts retailer reported an uptick in same-store sales for the third quarter.

The retailer said comps increased 3.1% in the period ended Oct. 31. Sales rose 3.4% to $1.17 billion. The company posted a profit of $76.8 million, or 37 cents per share, compared with $64.1 million, or 31 cents per share a year prior.

Everything old is new again at American Eagle Outfitters, apparently with good reason.

The teen apparel retailer on Wednesday named Jay L. Schottenstein as CEO,  effective immediately.   Schottenstein, who has served as interim chief  since January 2014, will also continue in his role as executive chairman of the board. The news of  his appointment came as the retailer reported a strong increase in its third quarter earnings.  It was the chain’s third consecutive quarter of increased sales and profits.

The chief executives of H&M, Gap Inc. and five other apparel companies are urging world leaders to agree to a strong climate change deal.

The leaders say they fear global warming will drive up their costs by having a negative impact on cotton production, Reuters reported. 

Read more by clicking here.

Sears Holdings Corp. is doing a much better job at cutting costs than at stopping its sales decline.

American Express Serve announced this week that it and Rite Aid and Dollar General had joined forces to allow American Express Serve account holders to add money to their cards at the retailers’ locations around the country.