Apparel

Nordstrom delivered a strong performance in its fiscal third quarter even as a hefty charge related to its Trunk Club business ate into its profit.   Total net sales rose 7.2% to a better-than-expected $3.5 billion from $3.2 billion a year ago, fueled by the shift of the company’s popular anniversary sale to the quarter. Same-store sales increased 2.4%, also more than expected. As it has done in recent past quarters, Nordstrom Rack outpaced the full-priced division, Net sales were up more than 10%, and same-store sales rose nearly 4%.

Weakness in apparel helped make for a disappointing third quarter for J.C. Penney Co. as the retailer cuts its forecast amid sliding sales.   On the positive side, Penney said sales trends improved in October, fueled by increasing momentum behind its new appliance business.  

Nike has upped its game in downtown Manhattan.    The athletic giant has opened a five-level, multi-sport category outpost in the heart of New York City’s SoHo neighborhood.   

Alex and Ani has promoted Cindy DiPietrantonio to president of the company.           DiPietrantonio joined the jewelry and lifestyle brand in July 2016 as interim COO, and her transition to president has happened in “a very natural, organic way,” the company said.  

Chinese shoppers were so eager to participate in Singles Day that they purchased more in the first hour than the entire 24-hour event in 2013.   Specifically, more than $7 billion of gross merchandise volume (GMV) was settled through Alipay on Alibaba’s China and international retail marketplaces within the first two hours of the 2016 “11.11 Global Shopping Festival,” according to a company statement. The annual shopping event kicked off at 12 a.m. China Time, on Nov. 10.  

Competition is fierce in the apparel business — even for online players with a devoted following.   Los Angeles-based women’s apparel retailer Nasty Gal has filed for Chapter 11 bankruptcy protection.      

Kohl’s Corp. reported a better-than-expected quarterly profit amid expense controls that helped make up for lower sales.   The chain reaffirmed its full-year profit forecast.   Kohl’s net income rose 21.7% to $146 million, or 83 cents per share, in the third quarter ended Oct. 29. Excluding items, Kohl's earned 80 cents per share.   Sales decreased 2.3% to $4.33 billion from $4.3 billion in the year-ago period. Same-store sales fell 1.7% during the quarter.

Macy’s third quarter profit fell short of analysts’ expectations, but the retailer raised its annual sales outlook based on improving trends in its business.    The retailer also announced an agreement with Brookfield Asset Management to monetize the value of its massive real estate portfolio.   

Macy’s has signed an agreement that could lead to more downsizing of its valuable real estate portfolio. It also has entered into deals to sell one of its stores in San Francisco, and one in Portland, Oregon.   

National Realty & Development Corp. has announced that new pad buildings will begin going up at two of its centers in New Jersey.   McDonald’s will enter Liberty Square Center in Burlington with a newly constructed 3,911-sq.-ft. store on one of the property’s outparcels. The 380,383-sq.-ft. Liberty Square is anchored by Walmart Supercenter, Acme, Marshalls, and Toys “R” Us.