Apparel

Photo by Ola Wilk/Wilk Marketing Communications

Liebeskind Berlin, a trendy leather accessories and fashion brand from Germany, has opened a second location in the United States.  

With a couple of exceptions, May same-store sales figures reported by several major apparel, specialty and discount chains were less than impressive.

First the good news. Bath & Body Works reported a 3% same-store sales lift for May 2016 compared to the same month a year earlier. Same-store sales at Costco Wholesale Corp. and L Brands were flat, which may not sound that encouraging but was better than most other retailers reporting figures for the month.

Here is a roundup of other chains reporting negative same-store sales growth for the month.

The current school year is just ending, but consumers are already looking ahead to the fall.

According to a new survey of 300 U.S. adults who plan on leading their families’ back-to-school shopping efforts from social engagement firm CrowdTap, blogs and social media conversations rival traditional advertising formats (e.g. magazine circulars and TV ads) when it comes to what drives back-to-school purchases.

Synchrony Financial will continue to offer consumer financing to Pandora Jewelry customers.

The two companies have announced a multi-year extension of their consumer financing program agreement. The program, which began in 2011, will continue to provide Pandora shoppers with access to a range of payment options through the Pandora Preferred card program. Special financing will be available at select concept stores nationwide.

J.C. Penney Co. said Wednesday it is proposing to refinance a $2.25 billion senior secured term loan, and to extend the maturity of the loan, which is currently set at May 2018. The transaction is expected to be complete in June.

Penney also reported positive same-store sales for its quarter-to-date through Memorial Day.
 

Incorrect fit is costing retailers billions of dollars — literally.
   
In 2015, $62.4 billion worth of global apparel and footwear purchases were returned due to incorrect sizing, according to a survey by digital body analysis technology provider Body Labs.

The survey found that that 23% of all clothing gets returned, with 64% of respondents claiming “incorrect fit” as the major reason for the return. And 77% of respondents who prefer shopping online stated that poor fit is the biggest reason for returning clothing.

A cold spring helped dampen sales and earnings at one of the nation’s leading apparel companies.
 
Ascena Retail, whose brands include Ann Taylor, Loft, Lane Bryant, Catherines, Justice and Dressbarn, reported profit of $15 million in the third quarter, ended April 23, down from $24 million in the year-ago period.
 

J.C. Penney Co. said Wednesday it is proposing to refinance a $2.25 billion senior secured term loan, and to extend the maturity of the loan, which is currently set at May 2018. The transaction is expected to be complete in June.

Penney also reported positive same-store sales for its quarter-to-date through Memorial Day.
 

Galeries Lafayette Group is the latest retail entity to launch its own tech accelerator program.

The French specialty retail conglomerate, which operates the Galeries Lafayette, BHV Marais, Royal Quartz, Louis Pion and Didier Guérin banners, is partnering with Silicon Valley-based technology accelerator and venture fund Plug and Play in the effort. The three-month program aims to develop an integrated platform to assist startups focused on the fashion and retail sectors. It will include access to venture capitalists, mentors, and Fortune 500 companies.

Chip Wilson, the founder of Lululemon Athletica Inc., is not one to mince words.

Wilson, the company’s largest shareholder with a 14.2% stake, on Wednesday issued an open letter to investors in which he sharply criticized the apparel retailer’s management, calling its competence “uninspiring at best.” He called for annual election of the board to hold members accountable for Lululemon’s performance.