Abercrombie & Fitch

By Craig R. Johnson, [email protected]

Boca Raton, Fla. -- Town Center at Boca Raton, in Boca Raton, Fla., will celebrate the expansion and relocation of Forever 21 to its soon-to-be-completed Cafes at Boca. The 19,000-sq.-ft. upgraded store will offer upgrades and added offerings.

“With the relocation of our store at Town Center at Boca Raton, we are able to accommodate more brands and new concepts,” said Larry Meyer, Forever 21 executive VP.

PLANO, Texas — Another former Apple executive has joined the ranks at JCPenney. The company announced Wednesday that Kristen Blum, a former director of supply chain and International retail for Apple Inc., has been named EVP and chief technology officer, effective Jan. 23. 

Blum reports to COO Mike Kramer, and has responsibility for the  company's JCP.com business and information technology systems.

Plano, Texas -- J. C. Penney Co. has tapped another former Apple executive to join its executive ranks. J. C. Penney announced that Kristen E. Blum has been named executive VP and chief technology officer, effective Jan. 23. She reports to COO Mike Kramer, and has responsibility for the company's jcp.com business and information technology systems.

Armonk, N.Y. -- IBM announced that Abercrombie & Fitch Co. is working with IBM software to help the company transform its online business to achieve greater speed and efficiency. The initiative is part of Abercombie's strategic goal to expand its direct-to-consumer capabilities and drive its e-commerce business to $1 billion.

New Albany, Ohio -- Abercrombie & Fitch earnings rose 1.7% in the third quarter, well short of analysts’ estimates, as rising costs pressures offset a big jump in sales.

For the quarter ended Oct. 30, the chain reported $50.9 million in earnings, up from $50 million in the same period last year. Total sales rose 21% to $1.08 billion, more or less in line with Wall Street estimates.

Total international sales including e-commerce rose 56% to $255.7 million. In the United States, sales rose 14% to $820.2 million.
 

PLANO, Texas — JCPenney, which reported sales and income decreases for the third quarter, has brought on two new executives to join fellow Apple alumnus, CEO, Ron Johnson. 

Plano, Texas -- J.C. Penney Co. reported Monday a loss of $143 million for the quarter ended Oct. 29, compared with a profit of $44 million in the year-ago period. Sagging comps and shrinking margins led to the performance decline.

For the quarter, sales dropped 4.8% to $3.99 billion, reflecting the company’s exit from its catalog and catalog outlet businesses, which it sold off during the quarter. 

As previously reported, same-store sales dipped 1.6%.