Apparel

Kohl’s has joined other major retailers this week reporting disappointing earnings and anemic same store sales growth.

The Wisconsin-based retailer posted a profit of $130 million in the second quarter ended Aug. 1, below the $232 million in the prior-year quarter. Earnings per share were 66 cents, compared with $1.13 in the second quarter of 2014. Same store sales grew a measly 0.1%. Overall revenue increased by just 0.6%, to $4.27 billion for the quarter.

DSW's aggressive store expansion plan is still on track, as the retailer looks to tap growth in existing as well as new markets.

The footwear and accessories retailer says it is opening 22 stores this fall, including six locations in new markets.

"Expanding our store base allows us to grow our footprint in areas we already call home, while also bringing DSW stores and the DSW brand to areas where our customers have been anticipating our arrival,” said Carrie McDermott, executive VP and COO of DSW, which operated 449 stores in 42 states.

Off-price retailer Stein Mart is accelerating the implementation of its store growth strategy just as thrifty shoppers increasingly flock to discounters.

Nebraska-based sportings goods retailer Cabela’s has appointed the former CEO of Coors to its board.

The company announced that Peter S. Swinburn has been named to its board of directors.

In a week in which many of the nation's major department stores reported disappointing financial results, Nordstrom showed once again how to drive sales growth.

The Washington-based retailer reported that total sales rose 9.2% from the same quarter in 2014, while same store sales rose 4.9%. The company posted a profit of $211 million, or $1.09 a share, compared with $183 million, or 95 cents a share, a year earlier. Revenue, which includes revenue from its credit cards, rose 9% to $3.7 billion. 

New York -- Things are not getting any better at the struggling and cash-poor American Apparel. In fact, it looks like they are getting worse.

In a short form quarterly filing, the retailer said its net loss increased to $19.4 million in the second quarter from $16.2 million in the year-ago period while net sales fell 17% to $134 million. It estimated that, as of June 30, it had only $7 million in cash and $6 million left in its Capital One credit line. (American Apparel’s full quarterly filing will be delayed.)

Seattle -- REI has named its first-ever CIO. The outdoor specialty retailer company is also on the hunt for talented techies to join its ranks.

REI promoted Julie Averill to CIO, where she will continue to lead REI’s technology organization. A 25-year technology veteran, Averill joined REI in 2014 and most recently served as VP of information technology.

Pittsburgh -- Consumers love their smartphones, but retailers shouldn’t count out the “old tech” yet in terms of customer appeal. And merchants will have to put some effort into getting consumers to accept some of the new high-tech bells and whistles.

New York -- Macy’s CEO and chairman Terry Lundgren is talking about why the department store giant decided to stop carrying Donald Trump’s menswear collection.

In a report on CNBC, Lundgren said the decision was a business one.

New York -- Macy’s has joined the increasing number of retailers tapping into their real estate assets.

Macy’s on Wednesday announced a real estate purchase agreement with developer Tishman Speyer to sell several of the nine floors of the Macy’s store on Fulton Street in Brooklyn, New York. The real estate transaction is expected to be completed in the fourth quarter, and Macy’s is expected to record a gain of approximately $250 million in its fiscal fourth quarter of 2015.