Apparel

Mahwah, N.J. - Brian Lynch, a 35-year fashion and retail industry veteran, has been named president and CEO of Ascena Retail Group’s Justice brand, which is targeted at tween girls. Lynch most recently served as president of Ann Taylor brand. Previously, he held executive positions with Ann Inc.; Gap Inc.; Learningsmit Inc.; and The Walt Disney Co.

Lynch replaces Michael Rayden, who retired in January. Rayden had announced his retirement in October, and Ascena subsequently launched a search for his replacement.

Belk blamed costs associated with strategic initiatives for its drop in profit in the fourth quarter.

The retailer reported a 7.8% decrease in net income to $146.1 million during the fiscal year that ended Jan. 31, compared with from $158.5 million in fiscal 2014.

New York -- Joseph Abboud has opened a flagship, the first under the umbrella of Men's Wearhouse, on Madison Avenue in Manhattan. Men’s Wearhouse acquired the Abboud brand in 2013.

The 4,300-sq.-ft. location was designed and styled collaboratively by Jeffrey Hutchison & Associates and Joseph Abboud, and is reminiscent of London's Savile Row.

Indianapolis -- The Finish Line Inc. on Friday reported a decline in its fourth-quarter profit and cautioned that profits in its current year may not hit expectations of a fiscal fourth-quarter net income of $40.8 million.

The retailer also authorized a new 5-million-share buyback program.

The Finish Line’s earnings in the fourth quarter fell 5% to $40.8 million.

Consolidated net sales for the quarter were $551.3 million, an increase of 6.3% over the prior year period. Same-store sales increased 2.6%.

Houston – Specialty accessories retailer Charming Charlie is supporting rapid growth of its business with an enterprise rollout of Oracle Retail applications. And “business” is the key word in the equation.

“This is not an IT project,” John Hnanicek, CIO of Charming Charlie, said during a session at Oracle Industry Connect 2015. “It’s a business project sponsored by the business and supported by IT.”

The sports retail market has been strong for Foot Locker and similar retailers, but not for Finish Line, which reported a drop in holiday quarter profit.

Grapevine, Texas -- GameStop on Thursday said it plans to open between 350 to 550 stores in its technology brands segment (whose banners include Simply Mac, Cricket and Spring Mobile, which sells post-paid AT&T services and wireless products through its 358 AT&T branded stores) while closing about 3%,  some  200, of its 6,000 GameStop video locations in 2015.

Seattle -- Canadian outdoor clothing and gear retailer Arc’teryx has launched a new line of hiking footwear today using a 3D platform from Seattle-based startup Prizmiq's. The platform is designed to allow online customers to engage with the shoes the same way they would in the Arc'teryx store.