Apparel

Indianapolis – Lids Sports Group fully understands the importance of the brick-and-mortar channel when it comes to omnichannel commerce and customer experience. As Kevin Thompson, director of application development for Lids, told attendees of the recent Oracle Industry Connect conference, the retailer has implemented the Micros Locate inventory visibility solution to enable full inventory access at stores.

“It’s a customer service issue,” said Thompson. “We don’t want to disappoint customers.”

New York -- There is no let up of bad news for American Apparel. The company’s founder and ousted CEO, Dov Charney, plans to file a lawsuit claiming $40 million in damages related to breaches of his employment contract.

The disclosure came on the heels of news that the Securities and Exchange Commission has opened an investigation into the circumstances surrounding Charney’s departure.

Indianapolis -- The Finish Line Inc. on Friday reported a decline in its fourth-quarter profit and cautioned that profits in its current year may not hit expectations of a fiscal fourth-quarter net income of $40.8 million.

The retailer also authorized a new 5-million-share buyback program.

The Finish Line’s earnings in the fourth quarter fell 5% to $40.8 million.

Consolidated net sales for the quarter were $551.3 million, an increase of 6.3% over the prior year period. Same-store sales increased 2.6%.

Seattle -- Canadian outdoor clothing and gear retailer Arc’teryx has launched a new line of hiking footwear today using a 3D platform from Seattle-based startup Prizmiq's. The platform is designed to allow online customers to engage with the shoes the same way they would in the Arc'teryx store.

Huntington Beach, Calif. -- Quiksilver announced that its CEO, Andy Mooney, has resigned. Mooney had been CEO for just over two years and was appointed chairman in November. The company’s CFO, Richard Shields, has also resigned. The news comes almost two weeks after the company reduced guidance for the current year and finished an investigation into its revenue-accounting practices.

Pierre Agnes, president of Quiksilver and a 27-year-company veteran, has been promoted to CEO and added to the board of directors.   

New York -- Joseph Abboud has opened a flagship, the first under the umbrella of Men's Wearhouse, on Madison Avenue in Manhattan. Men’s Wearhouse acquired the Abboud brand in 2013.

The 4,300-sq.-ft. location was designed and styled collaboratively by Jeffrey Hutchison & Associates and Joseph Abboud, and is reminiscent of London's Savile Row.

Grapevine, Texas -- GameStop on Thursday said it plans to open between 350 to 550 stores in its technology brands segment (whose banners include Simply Mac, Cricket and Spring Mobile, which sells post-paid AT&T services and wireless products through its 358 AT&T branded stores) while closing about 3%,  some  200, of its 6,000 GameStop video locations in 2015.

Belk blamed costs associated with strategic initiatives for its drop in profit in the fourth quarter.

The retailer reported a 7.8% decrease in net income to $146.1 million during the fiscal year that ended Jan. 31, compared with from $158.5 million in fiscal 2014.

The sports retail market has been strong for Foot Locker and similar retailers, but not for Finish Line, which reported a drop in holiday quarter profit.

Trendy teen retailer American Apparel reported a deep decline in fourth quarter revenue, as the company grapples with a social media scandal and losses stemming from an investigation of its former CEO.