Apparel

Simon Property Group has agreed to a settlement with the office of New York State Attorney General Eric T. Schneiderman that will have it loosening its stranglehold on the outlet business in Metropolitan New York.   Schneiderman maintained that Simon’s Woodbury Common outlet center in the Hudson River Valley owned a virtual monopoly in the region — including New York City — by virtue of a clause in tenant leases that forbid the opening other outlet stores within a 60-mile radius.   

Discount footwear retailer DSW topped analysts’ predictions for the second quarter fueled by an unexpected increase in same-store sales.   Net income was $28.6 million, or 35 cents a share, in the quarter that ended July 29, compared with $25 million, or 30 cents a share, in second quarter 2016.   Sales rose 3.3% to $680.4 million. Same-store sales edged up 0.6%, the first positive comp quarter since 2015. Analysts had expected same-store sales to fall 2%.   

Presidential candidate John F. Kennedy delivered a stump speech there not long after it opened in 1960. Legions of thriving General Motors employees kept it thriving for decades. But Tech Plaza in Warren, Michigan, suffered a crushing blow when Walmart left in 2008, and the center was nearly vacant when Detroit-based Petzold Enterprises acquired it in 2014.  

Francesca's Holdings Corp. is on the hunt for a new chief merchant.   The apparel retailer announced that Laurie Hummel, executive VP and chief merchandising officer, has left the company. It did not provide a reason for her departure.    Hummel joined Francesca's in November 2015. Previously, she served two years as senior VP and divisional merchandise manager at Kohl’s. Before that, she was with State Stores.   

Citing favorable demographics and a steady income stream, Nazareth Enterprises acquired the Walmart Central Shopping Center in Folsom, California for $39.7 million.    Besides Walmart, the 139,377-sq.-ft. center contains a 24-hour Fitness SuperSport Gym, the 99Cent Store, and Great Clips. It’s shadow-anchored by a Super Walmart.  

When it comes to sticking on budget, millennial parents prefer in-store shopping over digital commerce for back-to-school purchases.   Sixty-five percent of millennial parents believe shopping in-store enables them to more effectively remain within budget goals compared to shopping online, according to a study commissioned by Citi Retail Services. These parents plan to do the majority, 72% on average, of back-to-school shopping in a store rather than online this year.   

Back-to-school advertising appears to be losing some of its resonance with consumers.    Walmart, Target and Old Navy scored the highest awareness levels among consumers (with children under the age of 18) in a survey of BTS advertising from 30 retailers by YouGov BrandIndex. But many retailers scored less than last year.