Apparel

Houston -- New York private-equity firm Kohlberg Kravis Roberts & Co. LP said Tuesday that it plans to acquire a majority stake in Academy Sports + Outdoors, the Katy (Houston), Texas-based privately held sporting goods retailer with 131 locations throughout the Southeast.

Terms of the deal were not disclosed.

According to KKR, Academy Sports' president Rodney Faldyn will stay on as president and will assume the CEO job from David Gochman, who is the grandson of the chain’s founder.

White Plains, N.Y. -- SRS Real Estate Partners announced Tuesday that Dick’s Sporting Goods has leased 58,750 sq. ft. at “The Source” in White Plains, N.Y.

The Dick’s Sporting Goods lease represents the first step of the redevelopment of the former Fortunoff store, directly adjacent to The Westchester Mall. “The Source” is also occupied by Whole Foods Market, The Cheesecake Factory, Morton’s, Destination Maternity and a planned Raymour & Flanigan.

The new store opened in April.

Westport, Conn. -- SRS Real Estate Partners announced that Gap has leased 17,448 sq. ft. at 125 Main Street in Westport, Conn.

The transaction represents a consolidation of all of Gap brands (Gap, Gap Kids, Gap Baby) into one location and a new long-term commitment to downtown Westport, according to SRS.

The landmark redevelopment of 125 Main Street is well underway with Gap, a planned expansion and long-term lease renewal with Brooks Brothers Women and additional retail and boutique office space.

Old Navy’s updated format is showcased in its new store in Fort Worth, Texas (it is also the first LEED-certified location in the chain’s portfolio). The design is clean and modern, with a colorful palette and a fun, upbeat ambience. A raceway layout and key destination areas make for easy navigation, as do the clear sightlines throughout the space.

Warrendale, Pa. -- Teen clothing retailer rue21 posted net income of $9.6 million for the first quarter, compared with $5.8 million. The company boosted its full-year guidance based on its better-than-expected results.

Net sales increased 25.5% to $172.9 million. Same-store sales rose 5.2%.

During the quarter ended April 30, the company opened 39 new stores expanding its total to 677.
 

San Francisco -- Gap will enter the Italian outlet center market, opening a namesale store at the Vicolungo Outlet Center near Milan, on June 2.

New York City -- Foot Locker announced a series of organizational changes designed to enhance its focus on its two key business units -- retail stores and direct-to-customer, and to strengthen the operations supporting each unit. The changes will take effect as of July 1.

The company will consolidate the reporting of all its retail store businesses under Richard A. Johnson, who will be promoted to executive VP and group president – retail stores. He will be responsible for all of Foot Locker’s domestic and international store banners.

Dallas -- In another sign that the luxury market is turning around faster than other retailing segments, Neiman Marcus’ third-quarter profit more than doubled.

The company's net income for the three months ended April 30 rose to $46.2 million, from $18.5 million.

Revenue rose 10% to $983.8 million, from $895.2 million last year. Same-store sales increased 9.7%.

Neiman Marcus operates 41 Neiman Marcus stores across the United States, 30 Last Call clearance stores and two Bergdorf Goodman stores in New York.

New York City -- The Tommy Hilfiger Group said Friday that it will begin selling men's clothing in 90 locations of The Bay, a Canadian department store.

Gary Sheinbaum, CEO of Tommy Hilfiger North America, said Canada's "robust economy and increasingly discerning fashion consumers" influenced the decision.

The company described the setup as a "shop-in-shop," encompassing about 500 sq. ft. The shop will open by November.

The company has a similar set-up in the United States with Macy’s.

COLUMBUS, Ohio— DSW Inc. and its largest shareholder, Retail Ventures have completed their previously-announced merger.