Apparel

Xcel Brands Inc. has appointed a veteran marketing executive of Target to the Xcel board of directors.

"We are thrilled to have Michael Francis join our board of directors," said Robert D'Loren, chairman and CEO of Xcel Brands Inc. "Michael brings incredible marketing, leadership, innovation, and extensive branding experience to our Board and Xcel, and we look forward to working with him in this new capacity." 

St. Petersburg – HSN Inc. is partnering with the Card Services division of Alliance Data Systems Corp. (ADS) to provide private label credit card services for its Cornerstone business unit. Alliance Data will develop loyalty-driven card programs for five of Cornerstone's seven multichannel brands -- Ballard Designs, Frontgate, Garnet Hill, Grandin Road and Improvements – each incorporating a tailored approach for their unique customer base.

Neiman Marcus customers will soon be able to purchase their favorite finds via Buyable Pins on Pinterest.

The retailer announced that millions of pins on Pinterest later this month will become buyable, offering a simple and secure way for customers to buy their favorite finds. In just a few taps, on any iOS enabled device, a customer can buy the products he or she has Pinned or discovered. This service will be solely offered in the U.S. at this time.

New York – Guess Inc. beat Wall Street expectations with net earnings of $3.3 million in the first quarter of fiscal 2016, compared to a net loss of $2.1 million the same period a year earlier. Reductions in pretax expenses pushed Guess out of the red into the black.

Total net revenue decreased 8% to $478.8 million, from $522.5 million. Foreign currency fluctuations drove the decline. Same-store sales, including e-commerce, dropped 5.9%.

Los Angeles – Accepting an online order and then cancelling it due to inventory shortages is probably the most damaging customer interaction an omnichannel retailer can have. Vertical specialty footwear retailer Chinese Laundry, which operates a direct-to-consumer website as well as two stores in Las Vegas and one in Canoga Park, California, is well aware of this problem.

Mahwah, N.J. – Ascena Retail Group Inc. fell short of Wall Street expectations for profit and revenue in a difficult third quarter of fiscal 2015. Net income fell 23% to $24.4 million, from $33.2 million in the same quarter a year earlier.

Fairfax, Va. – The “unnamed strategic bidder” who outbid Hot Topic to purchase Geeknet Inc. has been revealed. GameStop Corp. will acquire all of the outstanding shares of Geeknet’s common stock for $20 per share in cash, or about $140 million.

Bentonville, Ark. – Wal-Mart Stores Inc. is reportedly raising wages for some employees in specialized departments beginning in July. According to the Associated Press, managers of more complicated departments like automotive and electronics will have their pay range increased to $13 - $24.70 per hour, from $10.30 - $20.09 per hour.