Apparel

New York City -- A report released Wednesday by CB Richard Ellis found that New York City remains the world’s most expensive retail destination as retailers focus on the major fashion capitals, pushing global rents in prime locations even higher.

According to the latest CBRE Global Retail MarketView, the improving economy has had a measurably positive impact.

New York City -- New York City remains the world’s most expensive retail destination as retailers focus on the major fashion capitals pushing global rents in prime locations even higher, according to the latest CB Richard Ellis (CBRE) Global Retail MarketView.

The average rent for space along Fifth Avenue from 49th Street up to 59th Street hit $1,900 per square foot in the first quarter. Hong Kong and Sydney came in second and third place in the rankings, with average per-square-foot rents of $1,697 and $1,301, respectively.

Bensalem, Pa. -- Charming Shoppes said Thursday that its first-quarter net income more than quintupled, but its revenue was flat and the profit rise was driven largely by cost cutting.

The CEO sounded a cautious tone for the future, saying the company needs to reignite store traffic and cope with rising cotton costs.

The company, which operates Lane Bryant, Catherines and Fashion Bug stores, said its net income for February through April was $26 million, up from $3.9 million in the same period last year.

New York City -- Express will officially debut its new store design concept this month, in King of Prussia Mall, King of Prussia, Pa. The format was created by Masamichi Katayama, interior designer and principal of Japanese design firm Wonderwall.

The new environment features design elements of refined chic mixed with unconventional edge and forward-thinking composition to create an individual space with a definite sense of style. The same concept is scheduled to launch at Kenwood Towne Center in Cincinnati, Ohio, also this month.

HOFFMAN ESTATES, Ill. — Sears Holdings has announced the winner of its "Tu Empresa, Tu Futuro/Your Company, Your Future Business" grant competition, which provides grants to Hispanic small business owners.

The four $5,000 grants were awarded to:

• Tayde Aburto, The Hispanic Chamber of E-Commerce

• Jennifer Burrell, The Frock Shop

• Elizabeth Tarpley, Targeted Tech Solutions

• Kristen Harris, Party Palette

Tucson, Ariz. -- Commercial Retail Advisors said it has hired Derek Gersdorf as a Retail Specialist.

Gersdorf's duties will include retail leasing and retail tenant representation. Prior to joining Commercial Retail Advisors, he worked as a residential appraiser in the Phoenix and Tucson regions for Casa Grande Appraisal Service and Forsythe Appraisals.
 

BENSALEM, Pa. — Charming Shoppes reported that consolidated net sales for the first quarter ended April 30 were $504.4 million, compared with $504.8 million for the three months ended May 1, 2010. Net sales results included a 2% increase in comparable-store sales and an increase in e-commerce sales, offset by the impact of operating 139 (or 7%) fewer stores than in the year-ago period. E-commerce sales increased to $36.6 million in the first quarter, compared with $31.6 million in the year-ago period.

CINCINNATI — The day before most retailers report monthly results, Macy’s said Wednesday that same-store sales climbed 7.4% in May and total revenue rose 8.5% to $1.94 billion.

The department store operator also raised its expectations for the second quarter, saying it now expects second quarter same-store revenue to climb about 5%. Its prior forecast called for an approximately 4% increase.