Apparel

Charlotte, N.C. -- Beachwood, Ohio-based DDR Corp. has announced the opening of Belgate Shopping Center, the company's first ground-up domestic development in over four years.

Belgate is a 100% leased, 900,000-sq.-ft. prime power center located in Charlotte, N.C., anchored by Ikea, Walmart and a complimentary lineup of junior anchors including Marshalls, Ulta, Old Navy, Petco, Cost Plus World Market, Hobby Lobby and Shoe Carnival.

Columbus, Ohio -- Express Inc. reported Thursday that its third-quarter net income fell 23% to $32.4 million, compared with $42.1 million in the same period last year. Results, impacted by heavier discounting and higher costs, still beat Wall Street’s estimates.  

Revenue climbed 3% to $508.5 million, solidly topping analysts’ estimate of $498 million and prompting the apparel retailer to lift its full-year earnings forecast. Same-store sales were flat in the quarter, after a 4% gain last year.

By Crosby Renwick, [email protected]

The pundits say retail, as we’ve known it since the ancient Egyptians, is coming to an end. Ouch. That’s big. You have to admit the logic is not bad: When retail is literally everywhere, when we can buy virtually anything off our phones and have it delivered, why go to a store?

TORONTO — Loft will open four new store locations in Ontario, Canada, following the retailer's initial foray into the Great White North late last year at the Yorkdale Shopping Centre in Toronto.

The retailer also introduced e-commerce into its new Canadian market in March.

EAST RUTHERFORD, N.J. — Kid Brands announced late today that it has appointed James Christl as SVP and CFO. He replaces Guy Paglinco, who has resigned as CFO "to pursue other opportunities."

Paglinco has agreed to remain with the company full-time through July 5 to ensure a smooth transition, and has reportedly agreed to make himself available to the company for up to six months following his departure, if deemed necessary.

LOS ANGELES, Calif. — Nearly 60 years to the day after Edmund Hillary and Tensing Norgay climbed Mount Everest, 48-year-old Russian Valery Rozov has jumped off its north face at 23,667 ft. to set a world record for the highest B.A.S.E. jump.

NEW YORK — Multichannel retailer Delia’s credited exiting brand Alloy and unseasonably cool weather for the dip in its first quarter results for the period ended May 4. Amid the “disappointing” first quarter results, the company has appointed a new CEO. 

COLUMBUS, Ohio — Express overcame the spring chill and a difficult retail environment, reporting net sales of $508 million for the first quarter ended May 4, a 3% increase from $496 million in the first quarter of 2012.

Comparable sales were flat following a 4% comparable sales increase in last year's first quarter. This includes e-commerce sales, which increased 48% to $71 million. In last year's first quarter, e-commerce sales grew 28% to $48 million.

New York -- Michael Kors Holdings Ltd. reported better-than-expected net income of $101.1 million, compared with a year-earlier profit of $43.6 million, on strong demand for its products around the globe.

Retail net sales increased 58.8% to $272.7 million driven by a 36.7% increase in comparable store sales and 67 net new store openings since the end of the fourth quarter of fiscal 2012.

Wholesale net sales increased 59.4% to $304.7 million and licensing revenue increased 15.7% to $19.8 million.

Toronto -- Loft, a division of Ann Inc., is expanding in Canada, with four new stores by the end of fall 2013.

Loft entered Canada last November, at Yorkdale Shopping Centre in Toronto. The chain will open a store in Toronto Eaton Centrer, Toronto, in late May, followed by additional units at Lime Ridge Mall in Hamilton in July, Markville Shopping Centre in Markham in August and Square One Shopping Centre in Mississauga in October.