Apparel

New York – As a result of slumping net and same-store sales, Aeropostale is forecasting a net loss per share of between 42 cents and 44 cents during the second fiscal quarter of this year, which is 19 cents higher than the previously issued guidance. The revised estimate is based on a 6% decrease in net sales to $454 million, from $485.3 million in the year ago period.

New York – Law firm Morgan & Morgan is investigating potential legal claims against the board of directors of Saks Inc. relating to the proposed acquisition of Saks by Hudson's Bay Company. Morgan & Morgan's investigation concerns whether Saks' board of directors breached its fiduciary duties to act in the best interests of Saks' shareholders and to take all necessary steps to ensure that Saks' shareholders receive the maximum value readily available for their shares of Saks common stock.

Foothill Ranch, Calif. – The Wet Seal Inc. reported net sales of $137.2 million during the second quarter of fiscal 2013, a 1.5% improvement from the second quarter of the previous year. However, this figure fell a bit short of the $138.5 million analysts were expecting.

Columbus, Ohio – L Brands, parent company of retail chains including Victoria’s Secret and Bath & Body Works, is raising its income guidance for the second quarter of fiscal 2013 due to early sales results. Total revenue for July rose 4% to $678.4 million from $649.8 million, while same-store sales climbed 4%.

Jacksonville, Fla. – Stein Mart reported year-over-year increases in total and same-store sales during the second quarter of fiscal 2013. Total sales grew 3.8% to $74.6 million from $70.5 million, while same-store sales increased 6.4%, compared to same-store sales growth of only 1.6% during the second quarter of the previous year.

New York -- A group of 11 large U.S. retailers that report same-store sales results each month had a generally strong showing in July. However, Thomson Reuters analysis indicates significant discounting helped drive an overall 4.4% increase, more than double the 1.4% same-store sales rise recorded in July of last year.

Houston — Jones Lang LaSalle has announced the closing of the sale of The Shops at Bella Terra, a 308,828-sq.-ft. power center in Houston’s Grand Parkway corridor. The JLL Capital Markets Group also secured acquisition financing with Wells Fargo and additional equity from Heitman on behalf of the buyer, Dunhill Partners

By Ted Vaughan, [email protected]

The year 2012 was the best year for retail IPOs since 2002 — S&P Capital IQ reported seven offerings for the year — and when we released our 2013 IPO Outlook Study earlier this year, 30% of capital markets executives expected initial public offerings (IPOs) in the retail and consumer products space to continue to grow in 2013. Now that we’re well into the second half of the year, how have those expectations fared?

JACKSONVILLE, Fla. — Strong sales in linens, dresses and intimate apparel buoyed Stein Mart’s total sales for the second quarter ended August 3, which increased 3.8% to $290.9 million from $280.4 million for the same quarter last year. 

The company posted a comparable-store sales increase of 6.4% for the quarter.