Apparel

With its profits taking a hit in 2016, Prada Group is placing a stronger focus on digital.   The luxury goods retailer’s net revenue for the year ended January 31, 2017, while revenue across its retail channel plunged13%.    Based on these results, the company plans to focus on more digital initiatives to better respond to an evolving marketplace, according to Prada’s CEO, Patrizio Bertelli.  

Destination Maternity Corp. saw its loss widen in the fourth quarter and the full year amid declining same-store sales and its exit from several businesses.     The maternity clothing retailer reported a loss $32.8 million, which included a $27.8 million non-cash income tax charge. Its adjusted net loss was $3.2 million, compared to an adjusted net loss of $1.5 million in the year-ago period.   Revenue totaled $100.2 million in the period. Same-store sales fell 7.8%.   

Uniqlo is set to open its third location in Canada.   The Japanese retail giant will open a two-level, 20,630-sq. ft. store at Metropolis at Metrotown, Burnaby, this fall. It will be Uniqlo’s first location in British Columbia, with the retailer’s other two Canadian stores in Toronto.   

Five Below is making its West Coast debut.   The retailer will open stores on Friday, April 21, in Aliso Viejo, Anaheim, Compton, Hawthorne, Montebello, Fontana, Rancho Cucamonga, South Gate and Redlands. The stores mark the company’s first West Coast locations, bringing its reach to approximately 550 stores in 32 states.  

Rouse properties has announced plans to enter into a joint venture agreement with Devonwood Investors in the transformation of an outdated Burlington, Vermont, mall into a mixed-use center. The deal is expected to be closed in the coming weeks.   Burlington Town Center, a traditional enclosed mall in the center of the state’s largest city, is to be converted into a modern apartment block including restaurants and an upgraded retail component.  

J.McLaughlin is in a growth phase. Armed with a new cloud-based retail platform, the chain can more efficiently execute its plan.    The Brooklyn, New York-based retailer is a specialty apparel chain that operates 115 stores and an e-commerce site. In November 2015, private equity investment firm Brentwood Associates acquired a majority stake in J.McLaughlin, and in July 2016, former Ralph Lauren executive Mary Ellen Coyne came aboard as CEO.   

Under Armour has brought its experiential “brand house” store concept to downtown Detroit.    The three-floor, 17,000-sq.-ft. space reflects the company’s roots in Baltimore and also pays homage to the history and spirit of Detroit. The design uses athlete imagery and product installations to convey an immersive brand experience and inspire customers.   

Gymboree Corp.’s debt and mounting losses may have finally caught up with it.   The embattled retailer is preparing to file for Chapter 11 bankruptcy protection, Bloomberg reported, as it faces a June 1 interest payment on its debt.   Gymboree has more than $1 billion in debt resulting from its Bain Capital buyout in 2010. It warned in March that it was running short on cash.