Apparel

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Summer is an interesting time in the world of retail. With lazy vacation-stilted months in June and July and the comparatively bustling back-to-school energy of August, it is a season of contradictions. While, yes, the unique challenges and opportunities of summer sales patterns and scheduling are different than any other time of the year, understanding what is likely on tap for retailers this summer requires an appreciation for certain universal factors that play a role no matter what the calendar says.
Luxury department store reports decline in sales and profit
The combination of a cool spring and the continued pullback in luxury apparel spending took a toll on Neiman Marcus Group in the company’s third quarter. The department store retailer’s profit plunged 80% in the period ended April 30, down to $3.8 million from $19.8 million in the year-ago period. Total revenue for the quarter fell 4.2% to $1.17 billion, down from $1.22 billion a year ago. Same-stores sales fell 5%.

Macy’s to unveil new store-design prototype

Macy’s is set to debut a store design at its remodeled location in Easton Town Center, Columbus, Ohio, that will be “100% brand new.”
Golf superstore continues to expand

PGA Tour Superstore opened its 26th store to date — and first store in Minnesota — on June 11. Located in Minnetonka, in a previous Sports Authority location, the 41,000-sq.-ft. store has 12 interactive simulators, practice hitting bays, a large putting green measuring more than 1,500 sq. ft. and an in-house club-making and repair facility to provide an interactive experience to golf enthusiasts of all levels.
Online jeweler expanding in brick-and-mortar

Blue Nile jumped into the physical space last summer with a store at Roosevelt Field mall in Garden City, New York, but it’s not stopping there. The online jeweler has opened two additional locations, at Tysons Corner Center mall in Fairfax County, Virginia, and at The Westchester mall in White Plains, New York. Blue Nile will open a fourth store later this summer, at the Washington Square mall in Portland, Oregon.
Teen apparel retailer gets final approval for DIP financing

Aéropostale has received final approval for $160 million in debtor in-possession financing provided by Crystal Financial LLC.
Digitizing the Storefront: Brick-and-mortar as the catalyst for omnichannel retail

For the retail industry, the storefront has taken on an entirely new meaning. The brick-and-mortar store is no longer the end-all-be-all in retailing, but the hub or pivotal point for a much larger movement – omnichannel retailing. Currently, traditional retailers compete for everything from having enough shelf-space, to engaging customers and bringing them into their physical store to make the final sale.
Saks Fifth Avenue, The Galleria, Houston

Saks Fifth Avenue has relocated its store in Houston’s The Galleria, opening a larger space that offers the ultimate luxury department store experience.
Ralph Lauren poaches Coach, Amazon execs as part of turnaround

Days after announcing its “Way Forward Plan” reorganizational plan, Ralph Lauren Corp. named three new senior executives who will help oversee it.
Good news for premium malls, lifestyle centers

High-quality malls and lifestyle centers are best positioned to capitalize on the shift toward experience-based spending. That’s according to a new study by the research arm of MetLife Investment Management (MIM), which finds that millennials’ preference for acquiring experiences and memories over material goods will play a significant role in determining which retail formats will outperform in the future.
Christopher & Banks shows improvement in Q1; will shuffle store mix

Specialty apparel retailer Christopher & Banks Corp. is not out of the red, but headed in the right direction during the first quarter of fiscal 2016.

The company reported net loss of $0.2 million, down from a net loss of $1.4 million the same quarter the previous fiscal year. Improved gross margin helped shrink the loss. Net sales totaled $100 million, an increase of 9%, compared to $91.6 million.
Francesca’s profits stay above expectations; will open new stores

Francesca’s Holdings Corp. saw net income decline, but still beat Wall Street predictions, in the first quarter of fiscal 2016.

The specialty apparel retailer reported net income of $7/08 million, down 2% from $7.24 million the same quarter a year earlier. Higher selling, general and administrative (S,G&A) expenses offset improvements in gross profit.