Apparel

Nordstrom delivered a strong performance in its fiscal third quarter even as a hefty charge related to its Trunk Club business ate into its profit.   Total net sales rose 7.2% to a better-than-expected $3.5 billion from $3.2 billion a year ago, fueled by the shift of the company’s popular anniversary sale to the quarter. Same-store sales increased 2.4%, also more than expected. As it has done in recent past quarters, Nordstrom Rack outpaced the full-priced division, Net sales were up more than 10%, and same-store sales rose nearly 4%.

J. Jill Group Inc. is moving forward with plans for an initial public offering.   The Quincy, Massachusetts-based retailer has tapped Bank of America, Morgan Stanley, and Jefferies Group LLC as underwriters for a possible initial public offering, Reuters reported.     

Nike has upped its game in downtown Manhattan.    The athletic giant has opened a five-level, multi-sport category outpost in the heart of New York City’s SoHo neighborhood.   

Weakness in apparel helped make for a disappointing third quarter for J.C. Penney Co. as the retailer cuts its forecast amid sliding sales.   On the positive side, Penney said sales trends improved in October, fueled by increasing momentum behind its new appliance business.  

Macy’s third quarter profit fell short of analysts’ expectations, but the retailer raised its annual sales outlook based on improving trends in its business.    The retailer also announced an agreement with Brookfield Asset Management to monetize the value of its massive real estate portfolio.   

Chinese shoppers were so eager to participate in Singles Day that they purchased more in the first hour than the entire 24-hour event in 2013.   Specifically, more than $7 billion of gross merchandise volume (GMV) was settled through Alipay on Alibaba’s China and international retail marketplaces within the first two hours of the 2016 “11.11 Global Shopping Festival,” according to a company statement. The annual shopping event kicked off at 12 a.m. China Time, on Nov. 10.  

Macy’s has signed an agreement that could lead to more downsizing of its valuable real estate portfolio. It also has entered into deals to sell one of its stores in San Francisco, and one in Portland, Oregon.   

Competition is fierce in the apparel business — even for online players with a devoted following.   Los Angeles-based women’s apparel retailer Nasty Gal has filed for Chapter 11 bankruptcy protection.