Formalwear

Hampstead, Md. -- JoS. A. Bank Clothiers reported Wednesday that net income for fiscal year 2010 leaped 21% to a record $85.8 million, compared with $71.2 million in the year-ago period.

Net sales surged 11.4% to a record of $858.1 million in fiscal year 2010, compared with $770.3 million in fiscal year 2009.

Same-store sales increased 7%.
 

New York City -- Prudential Douglas Elliman’s Retail Group announced that it has arranged a space for European fashion icon Piero Guidi at 430 West Broadway in New York City.

The 3,600-sq.-ft., double-height space features all-glass frontage, between Prince and Spring Streets.

Houston -- The Men's Wearhouse reported Wednesday a loss of $14.1 million for the quarter ended Jan. 29, narrowed from a loss of $18.8 million in the year-ago period.

The retailer, which sells suits and rents tuxedos, offered a 2011 forecast of adjusted profit that would beat Wall Street projections.

Revenue increased 18.6% to $542.1 million. Same-store sales rose 4.3% on strong tuxedo-rental revenue.

New York City -- Urban Outfitters will debut its newest brand, a bridal-shop concept called Bhldn, in early fall, in Houston. The company launched the brand online in February.

Urban Outfitters will open 50 to 55 stores in its current fiscal year, with the emphasis on growing its Free People brand and expansion of its namesake division and Anthropologie in Europe.

Fort Myers, Fla. -- White House|Black Market, a division of Chico's FAS announced that Liz Edmiston has been named senior VP, general merchandise manager for White House|Black Market, effective Feb. 28.

Edmiston joins White House|Black Market from Tory Burch, where she served as VP merchandising. She has also served as VP merchandising for Victoria's Secret.
 

New York City -- New York & Co. said Tuesday it has promoted current president Gregory Scott to the role of CEO, effective Feb. 12.

Richard P. Crystal, current chairman and CEO, had previously announced his impending retirement, effective Feb. 11.

Grace Nichols, who has served as a director since March 2008, will assume the role of non-executive chair of the board effective Feb. 12. Scott will remain a director on the company’s board.

Houston -- Men's Wearhouse said its president and COO, Douglas Ewert, will replace company founder George Zimmer as CEO in mid-2011.

Zimmer, 62, who founded Men's Wearhouse in 1973, will remain executive chairman of the board. The company said he would help Ewert with "strategic direction" for Men's Wearhouse and keep a hand in marketing decisions.

LOS ANGELES — IBISWorld predicted Valentine's Day will boost retail sales in a new report.

The independent market and research firm said that consumers are expected to spend 5.8% more on Valentine’s Day purchases this year than last year, totaling $18.6 billion, or about $125 per person.

Big gains will be seen across all categories. Jewelry is expected to see an 11.3% boost, greeting cards and candy are projected to grow 4.9% and 5.1%, respectively, and clothing and lingerie should see a 3.4% rise.

HOUSTON  -- The Men's Wearhouse announced that Grace Nichols has been elected to the company's board of directors, effective January 30, increasing the number of directors to nine.

Houston -- The Men's Wearhouse said Friday it has elected former Victoria's Secret Stores CEO Grace Nichols to its board of directors.

The appointment is effective Jan. 30.

Nichols will be the ninth member of the company's board. She worked at Limited Brands for 20 years and was CEO of Victoria's Secret Stores from 1992 to 2007. Nichols is also on the boards of Pacific Sunwear of California and of New York & Co.