Apparel

Charlotte, N.C. – Specialty women’s apparel and accessories retailer Cato Corp. reported declining sales and net income during first quarter 2013. Sales dropped 2% from $272.8 million to $267.2 million, while net income fell 3% from $31.7 million to $30.8 million. Same-store sales also declined compared to the same quarter a year earlier, by 5%.

Columbus, Ohio -- L Brands Inc., formerly known as Limited Brands, reported Wednesday that profit for the quarter ended May 4 surged 14% to $142.5 million, from $124.6 million last year. The Victoria’s Secret and Bath and Body Works parent increased its outlook for the year.

Quarterly sales rose 5% to $2.27 billion from $2.15 billion, edging Wall Street’s expected $2.26 billion in revenue. Same-store sales increased 3%.

New York -- Rue21 shareholder Apax Partners will acquire the teen apparel retailer in a deal valued at about $1.1 billion. The private equity firm, which has a 30% stake in rue21, also owns Cole Haan and Takko Fashion as part of its retail portfolio.

Rue21 said it has set up a special committee of independent directors to solicit and evaluate higher bids during a 40-day go-shop period.

BELLEVUE, Wash. — Eddie Bauer first ascent guide Melissa Arnot summited Mt. Everest for the fifth time, the most of any woman in history. Arnot's celebratory summit falls only weeks after the 50th anniversary of the 1963 expedition outfitted by Eddie Bauer that marked the first American summit of the mountain by Jim Whittaker and his Sherpa partner, Nawang Gombu, and later by Tom Hornbein and Willi Unsoeld via the West Ridge.

YORK, Pa. — Inclement weather was not enough to hold back Bon-Ton’s first quarter results for the period ended May 4. 

The company saw same-store sales increase 1.2% compared with the first quarter of the year prior. Total sales for the quarter were $647 million, a 1% increase from $641 million for the first quarter last year.

Indianapolis -- Simon Property Group announced that it plans to enhance and expand Woodbury Common Premium Outlets, in Central Valley, N.Y. The $170 million project will include architectural improvements to existing buildings and the development of new retail spaces and facilities, landscape improvements, and the integration of new customer amenities.

Pittsburgh -- American Eagle Outfitters Inc. earned $28 million in its first quarter, down from $39.7 million in the same quarter last year, as cooler weather hurt demand for its spring fashions and some special charges cut into its results. But the retailer still beat market expectations.

In related news, American Eagle Outfitters will invest more than $160 million to construct a new direct-to-consumer distribution center in Hazle Township, Pa.

Denver -- A federal judge in Denver is considering an injunction after ruling that nearly 250 Abercrombie & Fitch stores, including its namesake and Hollister banners, are unfriendly to the disabled, the Associated Press reported.

The judge agreed in March with the Colorado Cross-Disability Coalition that the stores limited access for wheelchair-bound customers.  He said the only option under the Americans With Disabilities Act is an injunction ordering the problems to be fixed, the report said.

DALLAS -- PeopleAnswers has announced a five-year software licensing agreement for The Bon-Ton Stores to use the PeopleAnswers HR-focused business solution to improve its in-store employee sales performance while lowering employee turnover.

Minneapolis -- Target Corp. reported a 26% drop in its first-quarter profit as unseasonably cool weather, the payroll tax increase and other economic pressures took a toll on sales.

Target earned $498 million the three months ended May 4, down from $697 million in the year-ago period. Sales rose 1% to $16.71 billion.

Same-store sales fell 0.6%. The number of transactions fell 1.9%.