Strategy

As Hurricane Irene raged up the East Coast over the weekend of Aug. 26-28, Apple -- like many retailers strategically positioned in the storm’s path -- turned out the lights on its New York-area stores, including all three Manhattan locations, New Jersey and Connecticut, to shield itself from Irene’s wrath.

But on the same day it temporarily shuttered its East Coast stores, Apple officially opened locations in North Carolina, Arkansas and, yes, France.

By Steve Dispensa, [email protected]

Escalating IT security threats and strengthening regulatory requirements have driven adoption of two-factor authentication among retailers to unprecedented levels. In an effort to stave off increasingly virulent attacks and meet PCI DSS mandates, many retailers have deployed security tokens, like RSA’s SecurID, to secure access to their corporate network and the sensitive customer and payment data it contains.

San Francisco -- Gap announced Monday that it will open its first Banana Republic store in France in Paris in early December. The 15,952-sq.-ft. store will be located on Avenue des Champs Élysées, one of the most popular international shopping destinations in the world.

“Following the success of our London and Milan openings, we are delighted to bring Banana Republic to Paris and take another exciting step in our international growth strategy,” said Stephen Sunnucks, president, International, Gap.
 

OAKLAND, Calif. — Cost Plus reported that net sales for the second quarter of fiscal 2011 were $197.9 million, a 3.2% increase compared with $191.8 million for the second quarter of fiscal 2010. Same-store sales for the second quarter of fiscal 2011 increased 2.8% compared with a 6.5% increase for the second quarter last year. The increase in same-store sales for the second quarter was due to an increase in customer count of 5.5% offset by a 2.5% reduction in the average ticket per customer, the company reported.

RIDGELAND, Miss. — Viking Culinary Group announced that it has introduced a new line of branded outdoor grills from celebrity chef Emeril Lagasse.

Products in the Emeril grill line include:

NEW YORK — The economic headwinds so often cited by mass market retailers as a drag on financial results had no impact on luxury goods retailer Tiffany during the second quarter. The company’s earnings per share excluding non-recurring charges increased 58% to 86 cents, well ahead of the 70 cents analysts’ expected as the retailer’s customers didn’t let lingering unemployment and economic uncertainty dampen their enthusiasm for luxury goods.

MONTVALE, N.J. — Grocer A&P officially opened on Friday its new Superfresh store, featuring a full-service pharmacy and expanded international offerings, in Philadelphia’s Northern Liberties neighborhood.

The 51,000-sq.-ft. neighborhood store marks A&P’s first new store in Pennsylvania in more than 10 years, and brings nearly 120 new jobs to the community.

New York City -- J.C. Penney Co. CEO Myron "Mike" Ullman is on track to receive a hefty exit package when he retires from the company in early 2012. The package currently is valued at about $30.7 million, according to an analysis prepared for The Wall Street Journal.

Ullman will be succeeded by Apple retail guru Ron Johnson.

Brisbane Calif. -- Bebe Stores reported Thursday that profit for the fourth quarter doubled to $4.7 million, from $2 million in the year-ago period.

Revenue rose 8% to $132.3 million, compared with $122.1 million last year and beating Wall Street expectations of $126.1 million. Same-store sales grew 7%.

For the year, the company narrowed its loss to $1.8 million, from $5.2 million in fiscal 2010. Annual revenue increased 3% to $493.3 million.

Oakland, Calif. -- Cost Plus reported Friday that its loss widened in the second quarter to $8 million, from $7 million in the year-ago period.

Sales for the quarter rose 3.2% to $197.9 million, and same-store sales increased 2.8%.

The retailer of home living and entertainment products closed five stores in the first six months of fiscal 2011, and said it expects to relocate one store in the third quarter of fiscal 2011.