Apparel

A decades-old apparel retailer finds itself no longer in fashion, undone by fast-fashion competition and a lack of e-commerce expertise.

Joyce Leslie filed for Chapter 11 bankruptcy court protection in White Plains, New York, and is a likely candidate for liquidation, Women’s Wear Daily reported. The chain, founded in 1945, operates 47 stores throughout the Northeast.

Genesco is lowering its earnings forecast for the fiscal year despite a 3% increase in same-store sales over the holiday period.

The company said same-store sales increased 3% for the quarter-to-date period ended Jan.2. Sales for the company's e-commerce and catalog direct sales businesses increased 20% on a comparable basis for that period.

A just-released holiday survey reinforces the dominance of the omnichannel shopper.

Nearly one-third (32%) of shoppers the past holiday season used the click and collect method – with 69% of these shoppers purchasing additional items in the store when they went to pick up the item and 36% making another purchase in an adjacent store, according to the International Council of Shopping Centers’ Holiday Consumer Purchasing Trends study.

American Apparel on Monday said that it has received unanimous approval of all voting classes for its reorganization plan. But also on Monday, the company received a $300 million buyout offer from an investor group that has the support of American Apparel founder and ousted CEO, the controversial Dov Charney.

The investor group, which is comprised of Hagen Capital Group and Silver Creek Capital Partners, said that its offer is superior to the company's reorganization plan, and has a valuation range of $180 million to $270 million.

Irvine, Calif. -- Irvine Company announced a major $150 million reinvestment in Irvine Spectrum Center located in Irvine, California, in the heart of Irvine Spectrum, a mixed-use community that provides a balanced district of retail, office, and living space.

In what was arguably one of the strangest holiday season in recent memory – for a variety of reasons – retailers have reported a variety of results ranging from impressive to outright awful.

Bellevue, Tenn. -- Crosland Southeast and Branch Properties have entered into a joint venture to acquire Bellevue Center Mall, an 87-acre property, located in Bellevue Tennessee. Crosland and Branch will collaborate to develop the retail component of the project and will rebrand the Bellevue Center Mall as One Bellevue Place. The projected costs for the redevelopment are approximately $200 million.