Apparel

Gymboree reports tough third quarter
A rough summer season, and an adjusted fiscal year end, took a toll on Gymboree’s third quarter earnings. The retailer’s net sales for the three months ended July 30, 2016, were $250.3 million, a decrease of 4% compared to $261.8 million for the three months ended August 1, 2015.
Retail phase of 65-acre Florida project is approved
Metropica, a 65-acre community planned for Sunrise, Florida, will begin building 370,000 sq. ft. of retail, dining, and entertainment space after getting the go-ahead from the town’s Planning and Zoning Committee. Tenants waiting to fill the space include iPic Theaters, Anthropologie, Fogo de Chao, Kings Bowl, and Kona Grill. Also approved as part of this first phase of construction phase were a 345-unit apartment building, a 240-room hotel, and 140,000 sq. ft. of office space.

Ascena Group’s non-executive chair to retire

Elliot S. Jaffe, ascena retail group’s co-founder and non-executive chairman of the board of directors, announced his plan to retire. Jaffe co-founded dressbarn in 1962 and served as CEO until 2002. He was ascena’s chairman of the board until January 2011, and then transitioned to non-executive chairman.
Under Armour net revenue, online sales jump in Q3

Amid “sluggish retail conditions,” VF Corp.’s Under Armour division posted gains for the third quarter. Under Armour’s net revenues increased 22% in third quarter 2016 ended Sept. 30, 2016, to $1.47 billion compared $1.20 billion for the same period last year. Net income increased 28% to $128 million, compared with $100 million for third quarter last year.
HRC report finds retail economic metrics are not sustainable

Amid continued market share growth by Amazon and a rapidly changing digital environment, traditional retail profitability metrics are under siege and not sustainable.
New J.C. Penney location emerges in San Bernardino

In an age when mall owners’ overriding challenge is what to do with the space left by departed department stores, one 50-year-old center in California landed a new one. Penney last week opened a 119,000-sq.-ft. location at Inland Center in San Bernardino, joining co-anchors Macy’s, Sears, and Forever 21. The fully renovated space it occupies was last home to Gottshalks.
High street rents go, well, sky-high

Current retail thinking that the high and the low ends are driving the industry has gotten a boost from CBRE Group. High street rents are off the charts worldwide, according to company’s just-released Global Retail Rents report. Rents in prime shopping locations during the second quarter were up 30% in Rome, 24%, 20% in Milan, and 14% in Sydney and New York.
Canadian retailer to enter U.S. with ‘disruptive’ concept

Spence Diamonds is dropping anchor in the United States with an innovative store concept and unique product offering. The diamond retailer will open a store in Austin, Texas, on Nov. 7, followed by a location in San Jose, Calif., on Nov. 10. A store in Scottsdale, Arizona is planned for first quarter 2017, with additional markets to be announced soon.
Nordstrom on the hunt for new CFO

Nordstrom’s longtime CFO is stepping down. Nordstrom announced that executive VP and CFO Mike Koppel has decided to retire from the company in spring 2017. Koppel will remain in his role until then to support the search for a new CFO and assist with his successor's transition. Koppel joined Nordstrom in 1999 and has been the company's finance head since 2001.
Nordstrom hiring less holiday employees this year

Nordstrom may be closed on Thanksgiving Day, but a new team of associates will be ready to serve shoppers come Black Friday. The chain will hire approximately 11,400 seasonal employees that will be trained to serve customers at its Nordstrom and Nordstrom Rack stores, as well as in its fulfillment and distribution centers that support stores, Nordstrom.com, Nordstromrack.com, HauteLook and Trunk Club.
REI makes bold Black Friday decision second year in a row

While many retailers still struggle with how to leverage the Black Friday sales frenzy, REI has other plans in mind. For the second year, REI will remain closed on both Thanksgiving Day and Black Friday, the busiest shopping day of the year. “Instead of feeding the Black Friday frenzy, we're closing our 149 stores and giving our 12,287 employees a paid day off,” REI’s website reported.
Hudson’s Bay adds position to lead partnerships

Ed Burstell will join Hudson’s Bay Company’s leadership team as head of partnerships. In this newly created position, Burstell will develop and lead partnerships to drive innovative and exclusive offerings across all of HBC’s banners globally — a move that will help differentiate the company across the marketplace. Burstell, who comes aboard on Dec. 5, will report to the company’s CEO Jerry Storch.