Apparel

DSW profit, sales miss in tough Q1
Despite improved net sales, DSW Inc. saw net earnings decline substantially during the first quarter of fiscal 2017.

The footwear retailer reported net income of $30.01 million, down 37% from $47.37 million in the prior year quarter. Growing cost of sales and operating expenses, as well as a pretax expense from the February purchase of online footwear retailer Ebuys Inc., cut into profit even as net sales rose 4% to $681.27 million, from $655.47 million. Ebuys contributed $15.1 million in net sales.
Stores Make a Comeback: Becoming a Hub for an Array of Customer Services
The store is making a comeback. Even online pure plays are laying down bricks and mortar, setting up “shop-in-shop” stores and large flagships to keep pace in the multichannel world.

Feature: Asda gets goods where they need to go

Asda, the U.K. subsidiary of Walmart, wants customers to have unencumbered access to desired products.

On the front end, this has meant creating a click and collect service called toyou. On the back end, Asda enables toyou with a seamless fulfillment infrastructure based on Manhattan Associates technology.
Victoria’s Secret taps former Nike exec as CEO

L Brands subsidiary Victoria’s Secret has named a veteran of the specialty and intimate apparel verticals as its new CEO.

Jan Singer, who served as CEO of Spanx from June 2014 – March 2016, is now CEO of Victoria’s Secret. Previously, she held corporate VP positions at Nike from February 2004 – June 2014.
Steelpointe Harbor hits stride

In Bridgeport, Connecticut, one of the most ambitious and unique waterfront developments in the nation continues to take shape.
Getting Creative with Retail Real Estate

As the retail landscape continues to evolve in response to an explosion of creativity and innovation from both new and existing brands, this is an exciting and inspiring time to be in the business.
Online specialty retailer adds C-level IT exec

ModCloth, a San Francisco-based e-commerce retailer focused on vintage and independent apparel styles, has named Nicholas Genest as CTO.

Genest joins ModCloth with more than 15 years' experience across consumer, tech and online retail industries. He most recently served as the CTO for the online luxury consignment retailer The RealReal, where he strategically led the development of their mobile, web and data technologies since 2013.
Abercrombie taps Target, Victoria’s Secret execs as brand presidents

Abercrombie & Fitch Co. has named two veteran retailers to head up its divisions.

The teen apparel retailer named Stacia Anderson as president of its namesake brand, and also its abercrombie kids division. Anderson is a 20-year veteran of Target Corp., where she most recently served as senior VP of merchandising. She will join Abercrombie on June 13.
Real Estate’s 10 Under 40

Chain Store Age’s annual search for 10 retail real estate stars under the age of 40 years resulted in this: Ten youthful, creative, hard-charging industry executives.

Some are retailers, others are brokers or from shopping center companies. Three are women. One is under the age of 30. There’s a single Canadian in the bunch. Two work for CBRE. Each has studied the business, sought out mentors, and researched and taken on the issues of the day.
Another online retailer tries offline space

Minted, the online marketplace for crowdsourced stationery, art and home decor from independent artists, has opened its first brick-and-mortar store. The store, a pop-up in San Francisco’s Union Square shopping district, is called Minted Local. Open through October 2016, it will highlight the work of regional California artists, including original art and one-of-a-kind decorative items for the first time in Minted’s history.
Solid Q1 for men’s apparel retailer

Big and tall men continued to spend in the first quarter, bucking slow apparel sales throughout the rest of the industry. Destination XL Group Inc. posted revenue of $107.9 million in the quarter, up 3.3% from $104.4 million in the year-ago period. Total same-store sales rose 2%.
Mixed bag for Hibbett Sports

Hibbett Sports beat the Street on profit in the first quarter, but missed on sales. The retailer on Friday reported better-than-expected first-quarter earnings of $27.9 million, compared with $27.4 million in the year-ago period. Revenue for the quarter ended April 30 totaled $282.1 million, up from $269.8 million last year. Comparable store sales increased 1.1%.