FINANCE

Chico's FAS' profit and revenue declined in the second quarter amid same-store declines across all its banners.      The women's apparel retailer also named Mary van Praag as president of Soma, effective September 5, 2017.  She most recently served as CEO of Perricone MD. Prior to that, she held senior executive roles at Coty, and Johnson & Johnson's beauty division.  

Going private may take some pressure off a company, but it is not without its risks.   In June, the Nordstrom family, which owns 31.2% of the department store's stock, announced it planned to explore taking the company private. But in its latest quarterly filing with the Securities and Exchange Commission, Nordstrom executives warned of the potential risks that might come with a move, reported Puget Sound Business Journal.   

One of the nation's largest fragrance retailers is shrinking its store portfolio.   Perfumania has begun store closing sales at 65 stores. The nationwide sale is being conducted by Gordon Brothers and its joint venture partner, Hilco Global.  

Amazon isn't as dominant as is widely believed — at least not according to a new report from Moody's Investor Services.   

Simon Property Group raised eyebrows in the real estate and retail communities this week with the filing a suit that challenged Starbucks’ decision to close 78 Teavana stores in Simon malls. All retailer 379 of the tea shops are slated for closure through next year.  

J. Jill, which went public in March, reported earnings and sales that topped analysts estimates, but provided an outlook that slightly missed forecasts.    Net income totaled $11.9 million, or 28 cents a share, in the quarter ended July 29, up from $8.1 million, or 19 cents a share, in the year-ago period. Adjusted per-share earnings came to 29 cents, in line with estimates.  

The nation's largest shopping center operator is suing Starbucks Corp. over its plan to shutter the retailer's 78 Teavana stores in Simon malls.   In a lawsuit filed Aug. 21, Simon Property Group said that Starbucks is breaching its leases by closing the Teavana stores and “shirking its contractual obligations at the expense of Simon’s shopping centers and the dozens of communities they serve and support,” reported the Indianapolis Business Journal.   

Although up against a soft comparative from the prior year, it is fair to say that Best Buy has produced a very robust set of second quarter numbers. The 4.9% increase in domestic sales underlines that the company is more than holding its own in the electricals market and should put pay to the oft repeated fiction that retailers of its ilk will struggle to survive in the era of Amazon.