Casual

San Francisco – Gap Inc. should be happy to greet this year’s holiday season, based on its performance in the just-concluded 2014 holiday season. Net sales for the November and December 2014 holiday shopping season were up 4% and same-store sales were up 3%, compared with the previous year.

Secaucus, N.J. – The Children’s Place Inc. has authorized a new $100 million share repurchase, with the goal of returning excess capital to shareholders. During the past five years, Children’s Place has returned more than $487 million to our shareholders through share repurchases and dividends.

Pacific Sunwear said it will lose less money in the fourth quarter than originally expected after its California lifestyle product assortment resonated with holiday shoppers and drove a 9% same store sales increase.

Another mall-based retailer has announced that it is in default and struggling for survival.

Body Central Corp. announced that it is in default on $18 million in debt and is exploring strategic alternatives, the Jacksonville, Florida-based company said in a statement.

The company also said it is experiencing “significant liquidity problems,” and is exploring options, including a possible bankruptcy filing.

Burlington, Mass. -- Demandware said that Abercrombie & Fitch Co. is using Demandware Commerce to power global expansion across Asia. The retailer recently launched 10 new e-commerce sites for its Abercrombie & Fitch and Hollister brands with the Demandware platform, serving China, Hong Kong, Japan, Singapore and Taiwan. All of the sites are mobile-optimized through responsive web design.

New York -- Brazilian athletic wear retailer Track & Field has opened its second U.S. store, in Brentwood, California. The retailer operates 122 stores in Brazil and opened its first U.S. store, in New York, approximately four years ago. It plans to open about 10 new stores in the United States in 2015 as part of its next phase of growth, according to Women’s Wear Daily.

Embattled teen retailer Wet Seal Inc. has defaulted on $27 million in senior convertible notes and related costs.

In a regulatory filing, Wet Seal said the total amount due is equal to $28.8 million, plus costs of collection, attorneys’ fees and disbursements.

Ezra Dabah is no stranger to children’s wear. As the former chairman and CEO of The Children’s Place, he helped create a billion-dollar retail powerhouse. Dabah left the company in 2007, but he returned to the kids fashion business with Ruum American Kid’s Wear, a fashion-forward upmarket concept that bowed in 2012 and operates 24 stores, primarily in malls.

Amsterdam, Netherlands – Dutch specialty fashion retailer Mexx, which operates 800 stores across 55 countries, has retained Gordon Brothers Group and Hilco Merchant Resources to begin going-out-of-business sales at all Mexx retail locations throughout Canada. Mexx currently operates 95 retail locations across Canada.    

Dov Charney, the controversial founder of American Apparel, has been fired "for cause" as CEO, the company said.

Charney was suspended as president and CEO of the hipster apparel chain in June for alleged misconduct and violations of company policy. The decision was made by the board’s “suitability committee,” which was formed to oversee an internal investigation in the wake of Charney's suspension.