Apparel

Brisbane, Calif. -- Bebe Stores Inc. reported Thursday that sales for the second quarter plunged 11.7% to $124.6 million, from $141.1 million last year.

Same-store sales plummeted 10.5%, and the women’s apparel retailer now says it expects its second quarter net loss will be larger than previously estimated.
 
Foot traffic fell 15% in the second quarter, which caused inventory per sq. ft. to jump 27.5%.

An annual holiday e-retail satisfaction report produced by analytic's firm ForeSee showed a slight deterioration in Walmart’s satisfaction score during the holidays.

Amazon.com, LLBean.com and QVC.com were the top three retailers on ForeSee’s Annual Holiday E-Retail Satisfaction survey while Walmart.com fell in the middle of the pack.

New York -- An apparel last-minute surge in holiday shopping helped many key retailers report better-than-expected sales in December. Twenty retailers reported sales in December rose an average of 4.5%, compared with the year-ago period, according to the International Council of Shopping Centers. Costco, Gap, Nordstrom and TJX Cos. were among the best performers.
 

New York -- Target Corp. turned in a less than stellar performance in December, recording flat same-store sales. But Costco Wholesale Corp. and TJX shone, exemplifying an up-and-down season in which consumers backed off buying amid concerns about a “fiscal cliff” and the uncertain economic climate.

Purchase, N.Y. -- Spending in key categories experienced a slight year-over-year gain of 0.7% during the 2012 holiday period, with the season slowed down by a combination of factors, according to a SpendingPulse report released by MasterCard Advisors, the professional services arm of MasterCard. Sub-sectors measured in the SpendingPulse Holiday Index report are apparel, electronics, online, luxury, jewelry and furnishings. (SpendingPulse data estimates retail sales across all payment forms.)
 

BRISBANE, Calif. — Steve Birkhold was named CEO at Bebe on the same day that the company reported a worse than expected second quarter loss and a 10.5% comp decline.

Birkhold, who previously served as president and CEO at Lacoste, will be tasked with leading a turnaround at the struggling specialty retailer.

SAN FRANCISCO — Gap has added one more brand to its existing portfolio, purchasing Intermix Holdco for approximately $130 million in cash.

Intermix is a New York-based multi-brand specialty retailer of luxury and contemporary women’s apparel and accessories. It operates 32 boutiques across North America, along with an e-commerce site, offering a mix of luxury brands, including up-and-coming designers. Gap intends to expand Intermix’s network of stores, as well as add significant visibility and enhancements to its online site.

San Francisco -- In a development that will take it into the growing global luxury market, Gap Inc. announced Thursday it has acquired women’s apparel retailer Intermix Holdco for approximately $130 million in cash. The transaction was completed Dec. 31.