Footwear

New York – Foot Locker Inc. is investing in the future. The company’s board of directors has approved a $220 million capital expenditure program for 2015, maintaining the level of investment in the business that Foot Locker initiated in 2013.

In recent years, the Foot Locker has invested in a variety of strategic growth initiatives, including new store formats, continued expansion of its European banners, capabilities in its direct-to-customer segment, and various technology initiatives.  

Boston – Shoe/apparel shopping site ShoeBuy, has relaunched its e-commerce site with changes rooted in customer feedback and consumer research. The retailer aims to deliver a more intuitive website, a refreshed rewards program and a commitment to building an engaging shopping experience.

Dallas -- Cypress Equities announced the acquisition of The Strand, a 96,000-sq.-ft. mixed-use development located in Huntington Beach, California.  

The transaction was secured by a fund managed by Cypress’ real estate investment management group, which has acquired more than $500 million dollars of retail properties during the past two years.  
 

The brand rennaissance of apparel e-retailer ShoeBuy is complete: The company has relaunched its e-commerce site after taking cues from customer feedback and consumer research.

The 15-year old retailer founded in Boston aims to deliver a more intuitive website, a refreshed rewards program and a commitment to building an engaging shopping experience. New features added to the ShoeBuy shopping experience include a virtual fitting tool, expert insights and blogs, customer reviews, and online customer service chat.

Rockford, Mich. -- Wolverine Worldwide posted fourth-quarter net income of $10.7 million, following a $1.7 million loss for the year-ago period. The company said it is increasing its brand-building investments in 2015, focusing on omnichannel initiatives and international expansion.

Leading branded footwear company Wolverine is eyeing 2015 as a year to focus on omnichannel and expansion.

The parent company of Stride-Rite, Merrell and other brands says it is poised to realign its resources to address a fundamental shift in consumer shopping behavior and allow for greater focus on important omnichannel initiatives.

New York -- Saks Fifth Avenue will open its first store in Puerto Rico. The 100,000-sq.-ft., multi-level store opens in conjunction with the Mall of San Juan on March 26.

“There is great opportunity in San Juan – the demand for luxury retail from locals and tourists is thriving,” commented Marigay McKee, president of Saks Fifth Avenue.

Dublin, Calif. - Ross Dress for Less will open two new stores in Louisiana on March 7. The stores are located in Juban Crossing in Denham Springs, and Magnolia Marketplace in central New Orleans.

With these new locations, Ross will operate 15 stores in Louisiana. Together, Ross Dress for Less and DD’s Discounts currently operate more than 1,300 off-price apparel and home fashion stores in 33 states, the District of Columbia and Guam.
 

Interest in basketball heats up in February with the NBA playoffs around the corner and March Madness set to soon begin. To capitalize on the action, Foot Locker is out with a new spot featuring Kyrie Irving as part of its, “It Must Be February,” campaign.

The 30-second spot, titled "Acting," also stars Ice-T and opens with Irving showing off his latest KYRIE 1 signature Nike kicks, noting that fresh colors will be debuting at Foot Locker stores nationwide throughout the month of February. 

Fort Myers, Fla. – Chico’s FAS Inc. may be the next big-name retailer to undergo an acquisition. Private equity firm Sycamore Partners is reportedly pursuing a $3 billion acquisition of the specialty women’s apparel retailer.

According to Reuters, Sycamore already has an agreement in principle to acquire Chico’s, contingent upon obtaining financing. However, Sycamore may be having difficulty finding a bank or banks willing to allow as much debt as the company is looking for.