Department Store

Stein Mart is preparing to launch its e-commerce business. The company expects the initiative to have a negative bottom line impact this year, in part, because of startup costs.

For the second quarter ended Aug. 3, however, the company is enjoying total sales of $291 million, up 3.8% from the prior-year quarter. Comparable store sales increased 6.4%. 

New Albany, Ohio -- Abercrombie & Fitch Co. earned $11.4 million for the second quarter, down from $17.1 million in the year-ago period, amid a 10% drop in same-store sales. The retailer, whose results missed analysts' estimates, also gave a third-quarter earnings forecast well below Wall Street expectations.

Abercrombie & Fitch and many other teen retailers have struggled of late, with their sales impacted not only by financially constrained consumers but also by the inherent fickle nature of their customer base.

Minneapolis -- Target Corp. reported that its second quarter profit dropped 13% to $611 million in the quarter ended Aug. 3, down from $704 million a year earlier, amid start-up costs related to its entry into Canada. Total company profits, excluding start-up costs related to Canada, increased 6.1%. Similar to other retailers, the chain issued a muted annual profit forecast as it deals with a still uncertain economy and cautious consumers.

New York -- The Deloitte Consumer Spending Index remained flat in July as improvements in real housing prices and labor markets offset weakness in other areas. The Index, which tracks consumer cash flow as an indicator of future consumer spending, remained at 4.4 this month.  

New York -- CBL & Associates Properties has announced the appointment of A. Larry Chapman to its board of directors.

Chapman is a retired 37-year veteran of Wells Fargo. He most recently served as group head of the bank’s commercial real estate lending business, responsible for the group’s 75 nationally located real estate loan production offices and 1,500 full time employees.

Dallas -- Neiman Marcus has launched its online Beauty Product Specialist Program offering online customers the personalized counter experience they would receive in a Neiman Marcus store.

"Through this program our customers can expect to receive guidance on skincare regimes, makeup application, and choosing a personal scent," said Kelly St. John, Neiman Marcus Direct VP, divisional merchandise manager, beauty.

WAYNE, N.J. — It may be August, but Toys"R"Us is getting a jump on the holiday season. The retailer is expanding its price match guarantee on items available at its Toys"R"Us and Babies"R"Us stores nationwide to include selected online retailer pricing. 

Omaha, Neb. — Westroads Mall has begun work on a major, two-phase renovation and remodeling of the three-level, enclosed, 1.2-million-sq.-ft. super-regional shopping center in Omaha, Neb.

Phase I is underway with mall-wide painting plus interior and exterior LED lighting installation. Phase I will also upgrade the malls energy management system. Plans call for Phase I to finish before the holiday season.