Apparel

Spending on Father’s Day is projected to total $12.7 billion this year, and Walmart should get a decent portion of that total given its strength in top gift giving categories.

The Nation Retail Federation forecast this week that average spending per person for Father’s Day would increase 10% to $117 per person from $106 last year, further narrowing the gap with Mother’s Day when spending per person averaged $152.

The retail industry lost one of its legends this week when Eugene Ferkauf, founder of the E.J. Korvette chain of stores passed away at his Manhattan home.

Before Sam Walton or Harry Cunningham opened their first discount stores 50 years ago, Ferkauf established the principles of discount retailing with his stores in the New York area. The first Korvette’s store opening in 1948 and at its peak the company operated 45 stores.

New York -- Kate Spade New York announced Thursday that it will buy its Japanese JV partner Sanei International’s 51% share in Kate Spade Japan.

The move, said Kate Spade, is part of an aggressive international push that includes recent store openings in the United Kingdom, Dubai and Kuwait, as well as further expansion into Brazil with additional store openings in Rio de Janeiro and Sao Paulo planned for this summer.

New York -- Eugene Ferkauf, founder of the E.J. Korvette chain, died Tuesday at the age of 91, said Yeshiva University, where he was a longtime former trustee and benefactor, the New York Times reported.

"He was a brilliant entrepreneur, innovator and pioneer of the discounting concept," said Burt Flickinger, III, managing director of the retail consultancy Strategic Resource Group, in the report.

Topeka, Kan. -- Collective Brands said Thursday that the U.S. Federal Trade Commission has granted early termination of the waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act in connection with Collective’s impending $2 billion acquisition by Wolverine World Wide, Blum Capital Partners and Golden Gate Capital.

As announced on May 1, investment firms Blum Capital and Golden Gate will jointly acquire the operations of Payless ShoeSource and Collective Licensing International.

Canton, Mass. -- Casual Male Retail Group said Thursday that it has named Derrick Walker as senior VP and chief marketing officer.

Walker was previously VP marketing for Lenscrafters. He has also served as VP marketing for Finish Line and as director of marketing for RadioShack.
 

Houston -- The Men’s Wearhouse reported Wednesday that net income for the first quarter dipped 2% to $26.9 million, dragged down by negative same-store sales at its K&G off-price unit. Its results missed expectations.

Revenue rose 1% to $586.6 million, missing Wall Street’s forecasted $593.7 million in revenue.

Vancouver, BC, Canada -- Lululemon Athletic Inc. reported Thursday that profit for the fiscal first quarter surged 40% to $46.4 million, compared with $33.4 million last year, but lowered second quarter and full-year forecasts have alarmed investors.

Revenue for the quarter surged 53% to $285.7 million, beating Wall Street’s expected $274 million, and same-store sales rose 25%. Online sales nearly tripled in the quarter.

Seattle -- Tommy Bahama Group said Wednesday that Joel Gardner has been promoted to senior VP retail, and Bornie Del Priore has been named VP of Tommy Bahama Footwear, a new division for the company.

Gardner has been with Tommy Bahama since 2006, most recently as VP retail planning and merchandising. Before joining Tommy Bahama, he was VP retail at The Orvis Co.

Del Priore has spent the last four years at Tommy Hilfiger USA, most recently as executive VP accessories. She also spent 15 years at Ralph Lauren Footwear.

San Francisco -- Gymboree Corp. reported Thursday net income of $4.2 million for the quarter ended April 28, compared with a loss of $10.4 million in the same period last year.

Sales rose 10.2% to $297.8 million, and same-store sales edged up 1%.

The retailer said it is on track to open 105 stores in fiscal 2012, which include 80 Crazy 8 locations. Crazy 8 is Gymboree’s discount concept.