Apparel

It may be back to basics in Walmart’s apparel department, but shoppers still crave discounted brands and fashion as evidenced by continued strength at some familiar retailers.

TJX and Ross Stores both posted same-store sales increases of 7% during June, and both companies used the occasion of the better-than-expected results to elevate their profits forecasts. TJX said June sales increase 9% to $2.3 billion, while Ross said its June sales increased 12% to $886 million.

YONKERS, N.Y. — Retailers that cater to lower-income and higher-income consumers should be pleased with the most recent Consumer Reports Index, as those two groups showed the greatest improvement in consumer sentiment.

The Consumer Reports Index, an overall measure of Americans' personal financial health, saw a sharp improvement in its consumer sentiment measure, which jumped to its highest level since October 2008.

Minneapolis -- Christopher & Banks Corp. has rejected Aria Partners’ unsolicited $64 million takeover offer, saying it was not in the best interest of stockholders. The private equity firm owns 4% of Christopher & Banks shares. The retailer also adopted a stockholder rights plan, or poison pill, with a trigger at 15%

Private equity firm Aria owns 4% of Christopher & Banks shares.

NEW YORK — Banana Republic is launching a special holiday collection styled by Jacqueline Durran, the Acadmemy Award-nominated costume designer for Anna Karenina.

MINNEAPOLIS — Target reported a 2.1% same-store sales increase that was toward the low end of the company’s expectations.

Despite June sales that were softer than expected, Target left its second quarter profit forecast intact as the weaker-than-expected result offset a better-than-expected performance the previous month.

FRAMINGHAM, Mass. and PLEASANTON, Calif. — Fashion discounters continue to thrive in this economy, with TJX and Ross Stores continuing to report impressive monthly sales results.

TJX reported June sales of $2.3 billion, an increase of 9% over the $2.1 billion achieved during the same period last year. Consolidated comparable-store sales for the five-week period increased 7% over last year.

CINCINNATI — As part of its "My Story. Our Flag." project, Tide unveiled a special flag — created in honor of Team USA — in New York's Bryant Park on Tuesday.

The 117-ft.-by-52-ft. flag, a larger-than-life artistic rendition of the American flag, features nearly 1,500 stories collected from Tide's Facebook and Twitter followers. Each piece of fabric making up the flag was washed in Tide prior to being sewn together, the brand said.

NEW YORK — Disappointing same-store sales results in June weren’t necessarily unexpected, as the month typically trends weaker as shoppers have fewer reasons to shop.

Thomson Reuters, which polls 18 U.S. retail chains, projected its Same-Store Sales Index to inch up 0.5% in June, far below last year’s 6.7% rise for the month. Analysts have said that warm weather may have prompted consumers to make summer apparel purchases earlier than usual, shifting sales from later months like June.

Philadelphia -- Ascena Retail Group CEO David Jaffe has pledged to preserve the jobs of 7,500 employees at soon-to-be-shuttered Fashion Bug stores, as well as 600 workers at the headquarters of Charming Shoppes, according to an article in the Philadelphia Inquirer.

Ascena, which owns the Dressbarn, Justice and Maurices banners, acquired Charming Shoppes – and its Lane Bryant, Fashion Bug and Catherines brands – on June 15.

Moorestown, N.J. -- Philadelphia-based Pennsylvania Real Estate Investment Trust said that video game retailer Play N Trade has opened a 1,712-sq.-ft. store at Moorestown Mall, located in Moorestown, N.J.

Moorestown Mall is a 1 million-sq.-ft. enclosed regional shopping mall anchored by Macy’s, Lord & Taylor, Sears and Boscov’s.