Department Store

Cincinnati -- Macy’s scaled back its earnings guidance for the remainder of the year in the wake of lower-than-expected net income for the second quarter of fiscal 2013. The retailer reported net income of $281 million, up from $279 million in the year ago period, but short of the roughly $304 million analysts had expected.

Sandpoint, Idaho -- Coldwater Creek announced the appointment of Deborah Cavanagh as senior VP and CMO, effective Sept. 16.

Cavanagh, who arrives Coldwater Creek from Loft where she was senior VP brand marketing, led the repositioning of Loft as a differentiated brand from Ann Taylor. She will lead Coldwater Creek's multi-channel brand marketing and creative services.

LITTLE ROCK, Ark. — Strength in ladies accessories and lingerie contributed to a 1% second quarter same store sales increase that helped Dillard’s exceed profit forecasts.

Disappointing second quarter sales at Macy’s prompted the nation’s leading department store operator to temper its outlook for the remainder of the year, heightening concerns about the health of the consumer just as other major retailers are due to report financial results in the weeks ahead.

Sales declined 0.8% to slightly more than $6 billion and same store sales fell by a similar amount during the second quarter period ended August 3. Profits increased 7.5% to 72 cents from 67 cents, but that figure was six cents less that analysts forecast.

Bentonville, Ark. -- Wal-Mart’s South African subsidiary Massmart Holdings Ltd reportedly seeks a 67% ownership stake in Kenyan retail chain Naivas Supermarkets Ltd. According to Bloomberg, which on Monday reported Naivas was one of several possible Kenyan chains eyed by Massmart for possible expansion, serious talks with Naivas have occurred.

New York -- Jos. A. Bank Clothiers on Tuesday came under criticism from BeaconLight Capital LLC, which owns more than 1% of the men’s apparel chain. In an open letter to the company’s board, the investment manager called for a reorganization of the retailer's board and return of cash to shareholders, preferably through buy-backs.

Weehawken, N.J. — The Swatch Group Ltd. has announced the expansion of its Tourbillon Boutique network into Seattle, Dallas and Las Vegas.

The Seattle location, in the Fairmont Olympic Hotel, features The Swatch Group Service Center. In Dallas, Tourbillon Boutique will open its first Texas location at NorthPark Center. In Las Vegas, the boutique will relocate to a 3,800-sq.-ft. space in The Shops at Crystals.

Robert Howard is the newest partner in the Retail and Consumer Products Group at management consulting firm Kurt Salmon.