Casual

Doug Tompkins, the founder of the North Face and Esprit apparel companies, died Tuesday in a kayaking accident in Chile. He was 72.

Tompkins was boating with others on a lake in Chile when his kayak capsized. Tompkins was rescued but spent a lengthy amount of time in the freezing water. He died of hypothermia in a hospital in Coyhaique.

Tompkins founded The North Face in 1964 as an outdoor outfitter and in 1968 he co-founded Esprit clothing, which would grow to do a billion dollars in sales. 

The Children’s Place blamed unseasonably warm weather for its weak third quarter results and plans to close 200 stores by 2017 as part of its turnaround strategy.

For the third quarter ended Oct. 31, the retailer said same store sales fell 3%. The Children’s Place reported a profit of $38.5 million, or $1.88 a share, compared with a profit of $36.9 million, or $1.70 a share, in the prior year quarter. EPS was $1.93, up from $1.82. Sales rose 6.4% to $455.9 million.

Many mall retailers have been having a tough time lately attracting shoppers, and Christopher & Banks was not immune to struggles with weak traffic in the third quarter.

The women's specialty retailer posted a net loss of $0.3 million, or 1 cent per share, for the third quarter ended Oct. 31, versus a year-ago profit of $9 million, or 24 cents per share. Net sales totaled $103.6 million, as compared to $110.6 million for the prior year. Same-store sales decreased 6.5%.

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.

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.

A steep profit decline and deteriorating sales at two of Gap Inc.’s three flagship formats in the third quarter have CEO Art Peck looking ahead to what he expects to be better times.

Lululemon Athletica has opened its largest store yet, an 11,500-sq.-ft. flagship in Manhattan. The store includes such new features as a 3,000-sq.-ft. community gathering space, called Hub Seventeen, and concierge services, reports New York Business Journal. [New York Business Journal]

American Eagle Outfitters has entered into an acquisition that could eventually see it open hundreds of new stores, and also enter a more upscale market. The teen apparel retailer has acquired upscale menswear brand Todd Synder, along with Snyder’s Tailgate Clothing Co., a vintage sports-inspired brand that operates a college-town store concept. American Eagle sees the potential to open as many as 200 Tailgate stores at universities nationwide, starting with Southeastern Conference and Big Ten colleges, according to the New York Times.

Francesca's is turning to a merchandising veteran of Kohl's and Macy's to take over as the specialty retailer's new chief merchant.

The company announced it has named Laurie Hummel to the position of executive VP/chief merchandising officer, effective Nov. 30. She will report to Michael W. Barnes, the chairman, president, and CEO. Hummel will lead all merchandising, product development and vendor related supply chain functions.

The CEO of Lululemon says the strategy of the brand is to grow the men’s business and to expand globally, while not giving up on having a devout yet irreverent corporate culture. “Our mission at Lululemon is to elevate the world to greatness,” Lululemon CEO Laurent Potdevin told the New York Times.