Apparel

Lululemon Athletica Inc. revealed that it plans to open smaller, “local” stores amid results that disappointed Wall Street.   Net revenue for the quarter ended July 31 increased 14% to $514.5 million, just shy of projections, from $453.0 million in the year ago period. Total comparable sales rose 4%, with in-store sales up 3% and direct to consumer sales up 6%.   Net income increased 12.5% to $53.6 million.  

WithMe, an interactive brick-and-mortar shopping experience that features limited runs of traditional and pure-play retail brands, has opened three new pop-ups in its flagship space at Santa Monica Place, Santa Monica, Calif.   

It was already generating $700 per square foot in revenue, but Broadway Plaza in San Francisco’s East Bay got a complete makeover from owner Macerich that was unveiled last week. Fireworks and a performance by Mark McGrath of Sugar Ray accompanied the ribbon-cutting.   Gross leasing area was expanded to beyond 900,000 sq. ft. and more than 50 new stores inhabit the open-air center that debuted in 1951. Nordstrom, Neiman-Marcus, and Macy’s anchor the plaza that Macerich has owned for the last 30 years.  

Following a revenue miss in the second quarter, sales continue to slide at The Buckle.    For August, same-store sales fell 14.8%, a decrease exceeding the company’s 10.9% same-store loss in July, and a 10.8% drop in the second quarter.    Net sales for August also dipped 14.0% to $87.2 million for the four-week period ended August 27, 2016, compared to $101.4 million for the same fiscal month last year, ended August 29, 2015.   

Changing footwear trends took a bite out of Genesco Inc.’s sales in the second quarter.   The company reported net income of $14.6 million, up from a year-earlier profit of $7.5 million.   Genesco’s revenue for the second quarter, ended on July 30, fell 4.6% to a less-than-expected $625.6 million.   Total same-store sales fell 1%, with a 4% decline at the Journeys Group.   

Department store retailer Belk is giving its Crown & Ivy private-label brand its very own freestanding location.    The brand, which Belk launched in in 2014, will open a store at Crabtree Valley Mall, Raleigh, North Carolina, according to a report by the Charlotte Observer.    Crown & Ivy offers preppy-styled apparel for women. 

Vera Bradley in entering the New York City market, opening a digitally-savvy flagship in Manhattan’s SoHo neighborhood.      Scheduled to open in September, the two-level, 2,700-sq.-ft. store will carry the complete Vera Bradley collection, ranging from handbags and travel items to eyewear and jewelry, and debut the brand's newly redesigned logo and store concept.    

Photo: Paul Pressler   The CEO of David's Bridal is out after three years on the job.    The specialty retailer said Pam Wallack has left the company, but gave no reason for her departure, the Associated Press reported. Wallack will be replaced by David’s Bridal chairman and former Gap Inc. head Paul Pressler, who once worked with her at Gap.