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Apparel

  • Genesco Q2 estimate disappoints; slashes full-year profit outlook

    Nashville, Tenn. -- Footwear retailer Genesco estimated second-quarter results below analysts' forecast. The company also slashed its adjusted profit outlook for the current year.

    “We are disappointed that our second quarter performance fell short of expectations,” said Robert J. Dennis, chairman, president and CEO of Genesco. “Sales trends proved to be more challenging as the quarter progressed and results came in below our plan. The third quarter has gotten off to a difficult start with comparable sales down 3% through Aug. 24.

  • Holidays heating up, head in digital direction

    Retailers will be promoting early and often during the upcoming holiday season, especially with six fewer days between Thanksgiving and Christmas, and mobile is sure to play an even greater role this year than it did in 2012.

  • Deer Grove in Palatine, Ill., bought for $20 million

    Chicago — Transwestern’s Chicago office has brokered the sale of the 236,173-sq.-ft. Deer Grove Shopping Centre in Palatine, Ill., to Ramco Gershenson for $20 million. Transwestern www.transwestern.net represented the seller, C-III Asset Management.

    The property is anchored by Dominick’s, a Chicago-based grocer, and national tenants including TJ Maxx/Home Goods, Petco and Staples. A Target and Home Depot shadow anchor the property.

  • Signet Q2 profit drops with Mother’s Day shift

    Hamilton, Bermuda -- Signet Jewelers Ltd.’s net income fell to $67.4 million for the quarter ended Aug. 3, down from $70.7 million a year earlier, impacted by the Mother’s Day calendar shift.  

    Total sales increased 3.1% to $880.2 million, fueled by strong sales at the company’s Kay Jewelers and Jared stores in the United States. Sales were soft at its British chains.

    Same-store sales were up 3.6%. At Kay, same-store sales rose 5.8%.

  • Shoe Carnival puts best foot forward in Q2

    Despite challenges in the overall consumer discretionary spending environment, Shoe Carnival saw sales increases for the second quarter ended Aug. 3, which coincided with the back-to-school season, driven primarily by its selection of women’s seasonal and children’s footwear.

    The leading retailer of value-priced footwear and accessories reported net sales of $216.4 million for the quarter, an 18.8% increase from $182.2 million for the year-ago quarter. Comparable-store sales for the quarter increased 2.6%.

  • H&M, Uncle Buck’s to anchor Destin Commons expansion

    Destin, Fla. — H&M and Uncle Buck’s Fish Bowl & Grill will anchor a 100,000-sq.-ft. expansion of Destin Commons slated to open in mid-2014.

    Construction is underway on the 20,000-sq.-ft H&M store, the first H&M in northwest Florida.

    Uncle Buck’s, a concept by Bass Pro Shops, will offer casual dining and 16 lanes of bowling. Uncle Buck’s has also taken 20,000 sq. ft.

    The expansion will include about 20 additional stores and restaurants.

  • Gordmans gives back to private equity partners

    Regional department store chain Gordmans gave shareholders a huge gift this week when the private equity controlled company’s board said it had borrowed $45 million to fund a $3.61 special dividend after reporting lackluster second quarter results.

  • DSW to test smaller format

    New York -- DSW plans to test a smaller-store format that will run about 10,000 sq. ft., down from its average 22,000-sq.-ft. model.

    DSW did not disclose where the tests would be. But CEO Mike McDonald told securities analysts that, if successful, the small-format stores “will create a new growth vehicle for DSW, which could significantly expand our store count potential,” Columbus Biz Insider reported.

    DSW is on track to open 30 stores in 2013.
     

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