Apparel

Commerce, Calif. -- Discounter 99 Cents Only said Tuesday it has launched an official search for a retail property on Rodeo Drive in Beverly Hills, Calif., to open its first store on the iconic street.

"We are confident a Rodeo Drive store will be successful because our stores do well in affluent areas,” said Eric Schiffer, CEO. “In fact, our highest sales volume store is located only a few blocks from Beverly Hills on Wilshire Boulevard.”

Of its 303 extreme-value stores in the U.S., 222 are in California.

Philadelphia -- Destination Maternity reported Tuesday that revenue for the fourth quarter dipped less than 1% to $128.5 million, but edged Wall Street’s expected $128.4 million in revenue for the period. Same-store sales climbed 2.7%.

The retailer, whose brands include A Pea in the Pod, Motherhood Maternity and namesake stores, said the revenue dip in the fourth quarter was due largely to the closure of underperforming stores and that it expects quarterly earnings to exceed guidance.

PHILADELPHIA — Urban Outfitters is entered into an exclusive deal with World Co. to bring its Free People brand to Japan.

New York -- Hennes & Mauritz AB has cut a deal to open in Manhattan’s Times Square, the New York Post reported.

According to the report, H&M will move into the three-floor, 42,510-sq.-ft. space at 4 Times Square that was previously occupied by the restaurant ESPN Zone. The space, which has been vacant for some two years, includes two huge billboards that wrap above the store’s facade along Broadway and West 42nd Street.

New York -- Barneys New York will close its 88,000-sq.-ft. store in NorthPark Center, Dallas. It will remain open until April 2013.

"After careful consideration, Barneys New York has exercised its contractual right to terminate the lease for its Dallas location prior to its expiration," said a spokeswoman.
 

Retail sales in September decelerated from August at many of Walmart’s competitors, but overall demand remained positive judging from the shrinking number of companies who continue to report monthly results.

Discounters The TJX Cos. and Ross Stores reported September same-store sales that rose 6% and 5%, respectively. The figures exceeded both companies’ expectations and shoppers continue to respond to their brand of apparel retail.

FOOTHILL RANCH, Calif. — Wet Seal, just days after encouraging its shareholders to reject efforts by Clinton Group to replace its board of directors, reached an agreement with Clinton Group giving them four spots on its board of directors.

As part of the settlement agreement, Clinton Group, which beneficially owns approximately 6.9% of Wet Seal common stock, has terminated its consent solicitation. In addition, Jonathan Duskin, Sidney Horn, Hal Kahn and Henry Winterstern have resigned from the board of directors.

Total U.S. shopper traffic in retail stores and malls for September 2012

The end of back-to-school shopping in the U.S. led to a significant drop in foot traffic this past month. September saw a 13.1% decrease in retail foot traffic compared to August. However, this past month continued a streak of year-over-year improvements. September 2012 foot traffic increased 12.9% when compared with the same month last year.

FOOTHILL RANCH, Calif. — Wet Seal merchandising executive, Harriet Sustarsic has left the company to become SVP, general merchandise manager for True Religion Brand Jeans.

Sustarsic was serving as division chief merchandising officer and will remain with the company until Oct. 19 to assist with the transition. Kim Bajrech and Debbie Shinn have assumed senior leadership of the Wet Seal merchandising organization, which they previously shared on an interim basis from November 2009 through November 2011.

Toronto -- Ann Taylor announced it opened its first international store on Oct. 4, in the Toronto Eaton Centre, Toronto.

A second international store set to open this November in Toronto at the Yorkdale Shopping Centre.