Apparel

New York City -- J. Crew Group is close to an agreement to be bought by TPG Capital and Leonard Green & Partners for about $2.8 billion, according to reports by the Associated Press, Bloomberg and other news groups.

TPG and Leonard Green would pay $43.50 a share in cash, or 16% more than J. Crew’s closing share price yesterday, according to various reports.

St. Louis -- Brown Shoe Co., parent of Famous Footwear and Naturalizer shoe stores, said Tuesday that its fiscal third-quarter profit rose to $18.6 million from $16.3 million, topping analysts estimates.

Sales in the quarter ended Oct. 30 rose 14.5% to $716.1 million, from $625.6 million.

Dallas -- Zale Corp.’s first-quarter loss widened as a debt-related charge hit the bottom line but a slight drop in revenue was offset by higher margins. The jewelry retailer reported a loss of $97.9 million, up from $59.7 million a year earlier.

Sales fell 0.7% to $327 million, from $329 million. Same-store sales in the quarter ended Oct. 31 fell 1.1%.

San Francisco — Gap has joined the growing ranks of retailers opening holiday pop-ups. The chain has teamed with the New York City hipster publication Cool Hunting to open a temporary store at Gap's 5th Avenue and 54th Street gallery space. It will be open through Jan. 2, 2011, and feature more than 100 products hand-selected by Cool Hunting's editors.

New York - Anne Fontaine has opened a store at South Coast Plaza, Costa Mesa, Calif.  The 1,510 –sq.-ft. shop is based on the company’s New York flagship designed by architect Andree Putman.

The new store combines natural materials and textures that embody the essence of Fontaine’s love of modernity and nature.

"The concept behind the shop is simple; to experience a little bit of the French lifestyle," said designer Anne Fontaine

New York — Shoppers opened up their wallets in early November, providing retailers with some early holiday cheer. Spending on apparel, jewelry and luxury goods showed strong increases from the same time a year ago, according to MasterCard Advisors' SpendingPulse, which includes transactions in all forms including cash.

New York - Gymboree Corp. said Monday it did not receive any offers that top Bain Capital's $1.8 billion bid for the company and so the buyout will proceed.

The allotted time for Gymboree to receive competing offers expired Friday.

"Despite a broad solicitation of potentially interested parties, the Company did not receive any alternative acquisition proposals during the 'go-shop' period," Gymboree said in a statement.