Apparel

London -- A Thursday report by Reuters said that British sports retailer Sports Direct will buy 60 stores from struggling competitor JJB Sports.

Citing an unnamed source, Reuters reported that JJB said it is close to appointing KPMG as administrators to sell its assets and brands after failing to receive an offer for the entire company.

JJB operates 180 stores. Sports Direct is majority-owned by Mike Ashley, owner of the Newcastle United soccer club. He will pay about $48 million for the 60 stores.

Hong Kong -- Esprit Holdings Ltd. reported Wednesday that net income of the fiscal year ended June 30 surged to $112.6 million, compared with $10.2 million the year before, boosted by one-time writeoffs for store closures.

Sales dropped 11% to $3.89 billion from $4.35 billion.

Foothill Ranch, Calif. -- The Wet Seal said that two independent proxy advisors, Institutional Shareholder Services and Egan-Jones Proxy Services, recommended that the chain’s shareholders reject efforts by Clinton Group to replace six members of the company’s board of directors.  

The nation’s leading sporting goods retailer has introduced a ranking system that shows football fans how sales of their favorite player’s jersey stacks up against the competition.

It is a clever strategy and feeds into NFL fans fantasy league obsession for statistics and provides Dick’s a lever to heighten shopper engagement and drive sales of big ticket, high margin apparel items that typically retail for upwards of $100.

By Sean Jackson, [email protected]

In recent weeks, there have been some well-publicised examples of retail giants whose financial performance has been severely impacted by breakdowns in the supply chain. As salt in the wound to these behemoths of retail, there are just as many examples of organizations that have exceeded market expectations due to an ability to behave nimbly and respond quickly to changes in consumer demand.

Redwood Shores, Calif. -- The Bentley Group, a Canadian retailer offering luggage, handbags and accessories, has selected Oracle Retail solutions to optimize operations and establish an integrated, scalable platform to help drive growth.

Riverside, Calif. -- Vestar, in a joint venture with a fund advised by UBS Global Asset Management, announced that it has acquired Riverside Plaza, a 475,211-sq.-ft. retail center located on 35 acres in Riverside, Calif., for $84,844,000 in an all cash transaction. The acquisition marks one of the largest investment sales transactions in Southern California's Inland Empire region in the past 10 years. Vestar currently manages more than 22 million sq. ft. of retail properties in the West.

New York -- Ann Inc. announced Tuesday at the Clinton Global Initiative that it will expand on its Vital Voices initiative with a program it is calling “Commitment to Action.”

The parent company of Ann Taylor and Loft piloted its ANNpower Vital Voices Initiative in 2011 as a groundbreaking partnership with international NGO, Vital Voices Global Partnership. The effort aims to train and empower young women in the U.S. to create positive social change in their local communities and become the next generation of leaders.