Apparel

The New York press has been all abuzz over the latest news about Nordstrom’s new Manhattan digs – that the West 57th Street space is officially Nordstrom’s.    

Urbi et Orbi (The City and The World): The phrase is not just the theme of an annual speech from the Pope, but also summarizes what’s taking place in retail across North America: urbanization and globalization.  

Bayer Properties has announced that it will develop a third member of its signature Summit property brand: The Summit Lexington, a mixed-use shopping destination located in the Lexington, Kentucky’s retail hub. An outdoor fashion center, The Summit Lexington will offer specialty retail, restaurants and residences.

Fort Myers, Fla. -- Chico’s FAS reported an 18.4% decline in second quarter net profit, after increased promotional activity took a toll on same-store sales. 

Chico’s net income totaled $43.6 million from $53.4 million in the year-ago period.

Foothill Ranch, Calif. -- The Wet Seal Inc. swung to a profit in the second quarter, reporting net income of $1 million, compared to a net loss of $12.4 million a year earlier. The retailer also announced it is introducing its Wet Seal Plus Collection, previously available only online, to 36 stores, on Aug. 30.

In addition, net sales totaled $137.2 million, up about 1% from $135.3 million in the second quarter of 2012. Same store sales grew 3.7%, while e-commerce sales remained flat. Overall results were in line with Zack’s consensus estimates.

Dallas -- Zale Corp. narrowed its net loss in the fourth quarter to $8 million, from $19.7 million a year ago. Despite the loss, the retailer reported its first profitable fiscal year since the financial crisis in 2008.

Columbus, Ohio -- Express Inc. reported a profitable second quarter of fiscal 2013, with year-over-year increases in net income, net sales and same-store sales. Net income rose 7% to $16.8 million, in line with Wall Street expectations, from $15.9 million. The retailer raised its full-year guidance and also announced plans to launch its outlet business in the second quarter of next year.

Net sales for the quarter increased a better-than-expected 7% to $486.2 million, from $454.9 million.

Purchase, N.Y. — National Realty & Development Corp. www.nrdc.com has announced that Old Navy and GNC will open stores at Orange Plaza, an 815,000-sq.-ft. power center in Middletown, N.Y. Old Navy has taken 13,500 sq. ft. GNC will occupy 1,500 sq. ft.

Wal-Mart Supercenter, The Home Depot, Kohl’s Department Store, Burlington Coat Factory, Marshalls, Bed Bath & Beyond and Staples anchor the center, which draws from a 12-mile radius with a population of 157,000.
 

St. Louis — Mid-America Real Estate Corporation’s Investment Sales team recently brokered the sale of the 112,300-sq.-ft. South Oaks Plaza located in St. Louis for $9.5 million to Phillips Edison-ARC Shopping Center REIT Inc. Shop’n Save, Walgreens and Michaels anchor the center.

Mid-America

and Pace Properties represented the seller, a private St. Louis based investment group.

FORT MYERS, Fla. — Chico's FAS’s financial results for the second quarter ended Aug. 3 were affected by a lower transaction count and average dollar sales, primarily because of lower traffic and the cycling of strong comparable sales last year.

The company reported net income of $43.6 million for the quarter — a decrease of 18.4% compared to $53.4 million in the year-ago quarter, and earnings per diluted share of $0.27, a decrease of 15.6% compared to $0.32 per diluted share in the year-ago quarter.