Department Store

Indianapolis - The Finish Line's first-quarter net income plunged 59% amid start-up costs related to its deal to open branded in-store shops in Macy’s. But the retailer still beat Wall Street expectations. In other news, the company announced a new role for retiring president and COO, Steve Schneider.

The Finish Line earned $5.1 million for the period ended June 1, down from $12.3 million a year ago. Revenue rose 10% to $351.1 million, also beating expectations. Same-store sales were up 2.4%. 

Hoffman Estates, Ill. - Sears Holdings on Friday joined the growing list of retailers and other companies severing ties with Southern celebrity chef Paula Deen in the wake of the controversy regarding her use of a racial slur. Both Sears and Kmart sold Paula Deen products.

“After careful consideration of all available information, we have made the decision to phase out all products tied to the brand,” Sears said in a statement. “We will continue to evaluate the situation. Our members’ needs will be given first priority.’

Philadelphia -- Madewell, a J. Crew concept, has signed its first lease in Center City Philadelphia, according to broker Fameco Real Estate. The 4,000 sq.-ft. store will be located near Rittenhouse Square. Neighboring retailers include Intermixx, Burberry, Athleta and Blue Mercury. Fameco and Open Realty Advisors both represented Madewell in the transaction.

Both brokers are also representing searching for a 2,500-sq.-ft. location for J. Crew Men on Walnut Street in Philadelphia.

Englewood, Colo. – Michael Foss has been named CEO of The Sports Authority Inc. He replaced outgoing CEO Darrell Webb, who is retiring both as the company’s chief executive and chairman of the board.

Foss, a member of the board of directors of The Sports Authority since 2009, most recently served as executive VP and CFO at Petco Animal Supplies and as CFO of Circuit City Stores before that. He has 30 years of executive experience across a variety of verticals including retail.

Macy's has agreed to pay a $175,000 civil fine for discriminating against immigrant employees when verifying their eligibility to continue working for the company, according to a Reuters report. 

The retailer will have to walk the fine line between ensuring equal opportunity rights to workers while not running afoul of complex immigration laws. To that end, in addition to paying the fine, Macy’s has agreed to improve the manner in which it verifies workers’ eligibility to work legally.

WASHINGTON — Shop.org has elected six new members to its board of directors and re-elected three. Each member will serve a two-year term. 

The new members are Elaine Boltz, SVP of e-commerce, the TJX companies; Jill Braff, EVP of digital commerce, HSNi, Ivy Chin, SVP of e-commerce and omnichannel digital, Belk; Jason Goldberg, VP of commerce strategy, Razorfish; Kasey Lobaugh, principal and chief retail innovation officer, Deloitte Consulting; and Matthew Kaness, chief strategy officer, Urban Outfitters.

By Sherry Orel, [email protected]

Retail today is supposed to be all about the experience. After all, it’s so easy to shop online. And yet so many retailers could be providing a much richer customer experience if they only made a few simple changes that meet customers needs and expectations.

Marks & Spencer's new store merges online and physical shopping

Technology is revolutionizing the way consumers shop, both in stores and online. Here is how one retailer is working to bridge both worlds.

British retailer Marks & Spencer is taking a giant leap forward in its goal to becoming a multichannel leader and merging the worlds of physical and online shopping with the opening of its new concept store in Amsterdam.