Apparel

New York -- Coach plans to shutter about 70 underperforming stores in fiscal 2015, Crain’s New York reported. The retailer, which has been under heavy competitive pressure from Michael Kors and other upscale companies, also gave a disappointing revenue forecast for its current fiscal year.
   

Chicago -- Englewood Construction announced its retail group has recently completed an interior build-out for Chicago Cruise Lines and begun work on two new projects, including an American Girl Store in Orlando, Florida.

Oakbrook Terrace, Ill. — Mid-America Asset Management Inc. has announced that the firm recently secured new retail leases on behalf of three shopping centers in Chicago’s northwest suburbs.

Fruitful Yield has taken 6,630 sq. ft. in North Tower Plaza in Elmwood Park, Illinois. The 26,088-sq.-ft. center features Super Cuts, Great American Bagel and Subway. Mid-America represented the landlord, while JLL represented the tenant.

American Apparel’s board of directors has voted to remove Dov Charney as chairman and fire him as president and CEO.

It is expected that the termination will be effective following a 30-day cure period required under the terms of Charney’s employment agreement.

For the time being, Charney is suspended from his positions as president and CEO, effective immediately, pending the expiration of the cure period. The board has appointed John Luttrell as interim CEO.

Armonk, N.Y. – Overall U.S. online retail sales for the week leading up to Father’s Day (June 9-15) were up more than 14% from the same period in 2013. According to the cloud-based IBM Digital Analytics Benchmark, Father's Day average order value was $119.37.

Global brand agency CBX has appointed Anthony Simon as group director of its branded environments team. Simon will report to president of CBX Branded Environments Joseph Bona.

Simon joined CBX from TPG Architecture, an architecture and design firm in New York City, where, as design director, he was a responsible for business development, direction and management of design concepts and staff, and account relationships. His key accounts included Perry Ellis, Original Penguin, Crocs, Adidas, Charming Charlie, HTC, RXR and The Empire State Building.

Short Hills, N.J. — Visit Machu Picchu in Peru at The Mall at Short Hills this summer. In partnership with PromPeru: The Commission on the Promotion of Peru for Export and Tourism, The Mall at Short Hills will feature Peru-themed promotions from June 13 through July 10.

Highlights include:

An interactive exhibit of Machu Picchu: The centerpiece of the effort is a 20 X 30 ft. exhibit of the fabled Machu Picchu, the Incan citadel named one of the New Seven Wonders of the World in a 2007 international Internet poll.

The National Retail Federation (NRF) had forecast that Father's Day spending would shrink this year, reaching just $12.5 billion. But it looks like the smallest of gift-giving holidays fared better than expected.

According to IBM Digital Analytics Benchmark, a real-time, cloud-based digital analytics platform, overall U.S. retail online sales for the week leading up to Father's Day — June 9-15 — climbed more than 14% compared to the same period last year.