Retail

NEW YORK — Further proof that the sluggish economy is affecting higher-income households much less than lower-income households can be found in the quarterly profits of Dillard's and Nordstrom's, which both reported earnings this week.

Dillard’s Inc. reported Friday that profit for the quarter ended Oct. 29 soared a record 85% to $26.6 million, compared with $14.4 million in the year-ago period. Strong comps and contained expenses propelled the strong performance.

Dallas -- Cypress Equities said it has expanded its corporate leasing team with the addition of Karly Kilroy and Allison Campbell.

Kilroy joins Cypress as senior leasing manager and is responsible for developing and leveraging relationships with potential tenants and facilitating leasing solutions for Cypress’ nationwide retail and mixed-use projects. 

MOORESVILLE, N.C. — Lowe’s announced that it has named Eric Wiseman, president and CEO of apparel manufacturer VF Corp., to its board of directors. Wiseman will serve on the board’s compensation and governance committees. 

Wiseman has been CEO of VF Corp., whose brands include The North Face, Timberland, Vans and Wrangler, since January 2008. Before being named CEO, Wiseman served as president and chief operating officer from 2006 to 2007, responsible for VF’s global business and day-to-day operations.

Scarsdale, N.Y. -- Dallas-based SRS Real Estate Partners said that Athleta, a division of Gap, has signed a lease for 5,833 sq. ft. to build and operate one of its first suburban stores in New York at Vernon Hills Shopping Center in Scarsdale/Eastchester, N.Y.

A spring 2012 opening is planned.

WASHINGTON — The National Retail Federation announced that it has urged the Senate to approve legislation that would help create jobs by making it quicker for citizens of Brazil, China and India to obtain visas needed to travel to the United States on business or to shop in U.S. stores.

San Antonio, Texas -- A Friday report in the San Antonio Express News said that grocer H-E-B has opened its Toyland mall-based stores for the second year in a row.

The seasonal toy and entertainment concept – which sells no groceries – is called H-E-B Toyland and is currently open at Rolling Oaks Mall (San Antonio), the San Marcos (Texas) Premium Outlets, and in Corpus Christi, Texas, until Jan. 15.

Menomonee Falls, Wis. -- A Friday report in Advertising Age said that Kohl’s Corp. has added $30 million to its fourth quarter marketing spend in order to pad its efforts to garner holiday shopping dollars.

In 2010, the retailer spent $113 million on measured media in the fourth quarter, according to the report, and will spend about $143 million this year. Annually, Kohl’s spends $340 million.

Minneapolis -- Christopher & Banks Corp. announced Friday that it will close about 100 underperforming stores over the next three months, as part of a restructuring plan that also includes format consolidations and workforce reductions.

The women’s apparel retailer said it plans to complete most of the store closings by the end of January 2012, and will accelerate plans to convert or consolidate a number of its existing Christopher & Banks and CJ Banks stores into dual-format stores.