Department Store

Chico’s disappoints as Q1 profit slips 4.7%
Fort Myers, Fla. – Chico's reported a lower-than-expected profit of $51.1 million for the first quarter, excluding non-recurring acquisition and integration costs related to its Boston Proper acquisition, versus a profit of $54 million in year-ago period.

Sales rose 3% to $670.7 million, up 3% from $650.8 million last year. Chico’s, which operates its namesake stores, as well as the Soma Intimates and White House | Black Market chains, attributed much of this boost to the opening of 114 net new stores in the past year.
Loft to open four stores in Canada
Toronto -- Loft, a division of Ann Inc., is expanding in Canada, with four new stores by the end of fall 2013.

Loft entered Canada last November, at Yorkdale Shopping Centre in Toronto. The chain will open a store in Toronto Eaton Centrer, Toronto, in late May, followed by additional units at Lime Ridge Mall in Hamilton in July, Markville Shopping Centre in Markham in August and Square One Shopping Centre in Mississauga in October.

Mother Nature flattens Chico FAS Q1 same store sales

FORT MYERS, Fla. — Chico FAS's comparable sales for the first quarter ended May 4 were flat compared to a nearly 10% increase in last year's first quarter, thanks to an unusually cool spring and the cycling of strong comparable sales last year.
Macy’s hires more than 1K college kids

Cincinnati – As part of its annual Executive Development Program (EDP) and summer internship program, Macy’s Inc. has hired more than 1,000 college students this spring. Hires include 695 recent college graduates for full-time EDP positions, which serve as entry-level executive training positions.

In addition, 325 current college students have been hired for a variety of internships with Macy’s and Bloomingdale’s.
J.W. Childs exec appointed to Brookstone’s board

MERRIMACK, N.H. — Brookstone, a multichannel specialty retailer, has appointed J.W. Childs executive William E. Watts as its new executive chairman of board.
Destination XL disappoints during Q1

Canton, Mass. -- Destination XL reported disappointing financial results for the first quarter. The company’s net income fell 56% from $2.3 million in first quarter 2012 to $1 million, while same store sales grew 0.8%. Total sales also declined 2%, from $95.5 million to $93.6 million. Destination XL cited a colder-than-normal spring and a 60% drop in catalog sales as a contributor to declining quarterly performance.
Penney’s ‘Hitler’ tea kettle billboard causes social media uproar

New York -- J.C. Penney on Tuesday turned to social media to deny that a tea kettle being advertised on a billboard on the 405 Interstate near Culver City, Calif., is intended to represent Adolf Hitler.
Haggar names Schneider sales director
GE Capital is administrative agent on credit facility for Lord & Taylor

Norwalk, Conn. -- GE Capital announced it is administrative agent on a $550 million senior secured credit facility for Lord & Taylor, a leading North American retailer. The proceeds will be used to refinance debt, support ongoing working capital needs and for other corporate purposes.

GE Capital also provided the company with interest rate risk management products and services. GE Capital Markets served as joint lead arranger and book runner.
West Elm going global

Chico’s disappoints as Q1 profit slips 4.7%

Loft to open four stores in Canada

Mother Nature flattens Chico FAS Q1 same store sales

Macy’s hires more than 1K college kids

J.W. Childs exec appointed to Brookstone’s board

Destination XL disappoints during Q1

Penney’s ‘Hitler’ tea kettle billboard causes social media uproar

Haggar names Schneider sales director

GE Capital is administrative agent on credit facility for Lord & Taylor

West Elm going global