Apparel

Leading department store operator Hudson’s Bay Company confirmed months of speculation and agreed to pay what appears to be a modest sum to acquire online luxury retailer Gilt Groupe.

Hudson’s Bay, which operates 470 department stores including Saks Fifth Avenue and the Off 5th discount format, said it agreed to pay $250 million for Gilt in a deal that will add $500 million to 2016, $40 million in adjusted operating profit by 2017 and countless synergies to leverage the combined companies’ infrastructure and customer databases.

Nordstrom continues to expand its off-price format, with plans to open a Nordstrom Rack at The Marketplace at Braintree in Braintree, Massachusetts. The approximately 35,000-sq.-ft. store, leased from Seritage Growth Properties is scheduled to open in fall 2016.

Nordstrom Rack at The Marketplace at Braintree will join a diverse group of retailers including Ulta Beauty, Sports Authority, Best Buy, Bed Bath & Beyond and PetSmart. The 351,282-sq.-ft. center is located south of downtown Boston and near main highways including I-93, I-95 and Route 3.

Children’s Place did the most shareholder friendly thing possible just days after it announced a slate of other shareholder friendly measures.

Under Armour is undertaking an ambitious effort to provide extremely personalized health and fitness coaching, assisted by IBM.

Under Armour has entered a strategic partnership with IBM to create and provide data-backed health and fitness insights, powered by IBM Watson's cognitive computing technology. The partnership will combine Under Armour’s new UA Record personal fitness app with an IBM Watson Cognitive Coaching System.

Photos: Sam Dushey before his appearance on “Undercover Boss,” (photo, left) and after he underwent his undercover transformation (photo, right). Via CBS.com

Redding, Calif. -- Rouse Properties announced it has significantly improved key operating metrics at Mt. Shasta Mall located in Redding, California, through execution of its leasing strategy with prominent national and regional retailers, as well cosmetic enhancements to the interior and exterior of the mall.

The Finish Line has promoted its president to CEO and plans to close a quarter of its stores as the retailer said supply chain problems hurt its third quarter performance.

The retailer announced that Sam Sato will succeed Glenn Lyon as CEO of The Finish Line, Inc., effective Feb. 28. Lyon will transition to the role of non-executive chairman of the board.

Leading department store operator Hudson’s Bay Company confirmed months of speculation and agreed to pay what appears to be a modest sum to acquire online luxury retailer Gilt Groupe.

Hudson’s Bay, which operates 470 department stores including Saks Fifth Avenue and the Off 5th discount format, said it agreed to pay $250 million for Gilt in a deal that will add $500 million to 2016, $40 million in adjusted operating profit by 2017 and countless synergies to leverage the combined companies’ infrastructure and customer databases.

Macy’s lowered the ax on Wednesday, announcing major cost-cutting moves on the heels of holiday sales that were much worse than expected.

Building customer loyalty is key for retailers and, while part of that is obviously offering desirable, high-quality products, consumers in today’s world want something more — they want to be a part of something larger than themselves - a community they can engage with.