Apparel

Retail sales surge in October
In a good omen for the upcoming holiday season, consumers spent more than expected in October, as U.S. sales rose more than expected. Retail sales increased by 0.9% over September and grew 2.2% on a year-over-year basis, according to the National Retail Federation. The calculations excluded automobiles, gasoline stations and restaurants.
Prince Georges Mall adds Ulta and DSW
The Mall at Prince Georges in suburban Washington, D.C. will welcome a 16,000-sq.-ft. DSW location and an 11,000-sq.-ft. ULTA in second quarter 2017. The signings are part of PREIT’s ongoing strategic plan to re-outfit its centers with “in-demand” retailers. “The property has just begun its transformation into an elevated, vibrant shopping and dining destination commensurate with the development that has occurred in the surrounding area,” said Joseph F. Coradino, CEO of PREIT.

Dick’s Sporting Goods tops Q3 estimates but gives weak guidance

Dick's Sporting Goods Inc. on Tuesday reported better-than-expected sales and earnings for its fiscal third quarter but tempered its good news with a weak outlook for the fourth quarter. Dick’s posted net income of $48.9 million for the quarter ended Oct. 31, up from $47.2 million in the year-ago period. On a per-share basis, the Coraopolis, Pennsylvania-based company said it had profit of 44 cents. Earnings, adjusted for non-recurring costs, were 48 cents per share.
Finish Line exploring alternatives for its specialty banner

It’s official: The Finish Line considering selling its specialty running store chain. The company announced that it is currently exploring strategic alternatives for its JackRabbit division (previously known as Running Specialty Group). The segment includes 70 specialty running stores in 17 states, such as Brooks, ASICS and Hoka One One.
Off-price giant soars in Q3; raises outlook

The TJX Companies topped earnings and sales forecasts for its third quarter as deal-loving consumers flocked to its stores. The off-price apparel and home goods retailer reported that net sales for its third quarter, ended Oct. 29, rose 7% to $8.3 billion, on top of a 5% increase last year.
Neiman Marcus loses key executive

The CFO of Neiman Marcus has resigned after 15 months on the job. Donald Grimes has resigned as COO and CFO of the luxury retailer, effective immediately. No reason was given for his departure. But in an SEC filing, the company said Grimes's resignation "was not the result of any disagreement regarding any matter" related to its "operations, policies or practices." Grimes joined Neiman Marcus in June 2015, after a seven-year stint at Wolverine World Wide where he was CFO.
Barneys going warm and fuzzy for the holidays

Barneys New York is charting a different course this holiday season. The luxury retailer is known for its satirical, often outrageous holiday window displays. But this year Barneys’ windows, in response to what it called “the world's current climate of chaos and divisiveness,” will be built around the themes of love, peace and joy.
Report: Fashion retailer exiting the outlet store business

Kenneth Cole is closing all its stores in outlet centers. The company plans to shutter its 63 outlet stores within the next six months, Bloomberg reported. The move will leave the brand with two brick-and-mortar stores, both full priced, with one in downtown Manhattan and the other in Arlington, Va.
Innovative store platform allows Macerich malls to host hard-to-find and new retailers

Macerich is rolling out a plug-and-play concept that allows it to bring new retailers to its centers in a most untraditional way. The mall owner announced it is expanding its portfolio for WithMe, an interactive physical store platform that allows brands to set up limited-time shops in a most expedient way. WithMe offers brands a fully portable, pre-fabricated and high-tech retail environment that blend the best of online and offline shopping.
American Apparel files Chapter 11 amid ‘failed’ turnaround strategy; future uncertain

Beleaguered American Apparel has filed its second Chapter 11 bankruptcy protection in just a little over a year. But this time around its future as a retailer looks even more uncertain.
Singles Day: Alibaba reports record sales, but growth slows

The 24-hour Chinese shopping mega-event known as Singles Day brought in record numbers for the country’s e-commerce giant, Alibaba. But it appears that the growth rate is decelerating. Alibaba Group Holding Limited reported that the total amount of goods and services sold by vendors (known as gross merchandise volume) over its e-commerce sites rose 24% to a record $17.8 billion this year. Last year, by contrast, sales on Alibaba platforms increased 60%.
Sailmaker dropping anchor on Fifth Avenue

One of the world’s largest sail manufacturers is sailing into Manhattan, but it won’t be selling its award-winning sails. North Sails will open its third retail store on Nov. 16, in Manhattan. The company opened its first store in August, in Annapolis, Md., followed by a location in Newport, Rhode Island.