Apparel

Wet Seal defaults on $29 million
Foothill Ranch, Calif. – Teen retailer Wet Seal Inc. has defaulted on a total of $28.8 million in senior convertible notes and related costs. In a regulatory filing, the struggling retailer said it received notice of default on $27 million in notes from creditor Hudson Bay Master Fund Ltd., plus costs including attorneys’ fees and disbursements.

Wet Seal has reached a two-week forbearance agreement with the fund, giving it until Jan. 12 to pay off the debt.
Starbucks, Walmart, Kroger execs make NRF's 'List of People Shaping Retail's Future'
Washington, D.C. -- Adam Brothman, chief digital officer of Starbucks, Melissa Reiff, president and COO of The Container Store, Rick Caruso, founder and CEO of Caruso Affiliated, and Greg Buzek, co-founder of the Retail Orphan Initiative (RetailROI) and president of IHL Goup are among the 25 individuals recognized by the NRF Foundation on its “The List of People Shaping Retail’s Future.”

Abercrombie & Fitch settlement approved

New York -- A federal judge recommended approval of a revised settlement of a lawsuit that challenged the pay of former Abercrombie & Fitch CEO Michael Jeffries. The action comes three months after a different judge rejected a settlement that appeared to offer few benefits to the company and “broadly released shareholders' claims," Reuters reported.
Report: Brazil’s Track & Field to open 10 U.S. stores in 2015

New York -- Brazilian athletic wear retailer Track & Field has opened its second U.S. store, in Brentwood, California. The retailer operates 122 stores in Brazil and opened its first U.S. store, in New York, approximately four years ago. It plans to open about 10 new stores in the United States in 2015 as part of its next phase of growth, according to Women’s Wear Daily.
Meet the 25 people shaping the future of retail

They are disruptors, dreamers, givers, influencers and power players. The National Retail Federation Foundation has announced its inaugural list of the 25 people shaping retail’s future, and many of the names might be unfamiliar.
Wet Seal gets $27 million default notice

Embattled teen retailer Wet Seal Inc. has defaulted on $27 million in senior convertible notes and related costs.

In a regulatory filing, Wet Seal said the total amount due is equal to $28.8 million, plus costs of collection, attorneys’ fees and disbursements.
Wet Seal gets $27 million default notice

Embattled teen retailer Wet Seal Inc. has defaulted on $27 million in senior convertible notes and related costs.

In a regulatory filing, Wet Seal said the total amount due is equal to $28.8 million, plus costs of collection, attorneys’ fees and disbursements.
Avenue generates online referrals with ShopSocially

Pataskala, Ohio – Specialty apparel retailer Avenue Stores is turning its online customers into brand advocates by using ShopSocially’s referral marketing solution to generate referrals from its website users. By encouraging users to connect with the Avenue brand on Facebook and share their purchases on social media, Avenue is driving word-of-mouth promotions resulting in a referral traffic that is converting at a rate as high as 28.48%.
Tech Guest Viewpoint: Three Retail Lessons from Clicks to Bricks

By Gregg Aamoth, POPcodes
Tech Guest Viewpoint: Three Retail Lessons from Clicks to Bricks

By Gregg Aamoth, POPcodes
NRF gives $100K to next generation of retailers

The best and the brightest college students interested in retail careers will receive $100,000 in grants from the National Retail Federation (NRF) on Jan. 11 in New York City.

The NRF Foundation will award the scholarships to 24 outstanding students as a part of its Next Generation Scholarship program.

This year students will also be awarded a travel scholarship to attend NRF’s Big Show and NRF Student Program in New York City.
Malls hope shoppers need another app

The nation’s newest mall in Sarasota, Fla., introduced shoppers to a new app with interesting navigation and personalization capabilities. Now the trick is driving downloads and usage.