Department Store

By David Kudas and Russell Parker, JDA Software

New York -- Ashley Furniture Industries Inc. plans to open about 50 bedding stores, under the Zzz's By Ashley banner, in 2012, according to Furniture Today. The sleep shops will average about 4,500 sq. ft. each, and will offer a wide selection of mattresses and sleep accessories.

“I think we can open several thousand in the next 10 years,” Ben Thorud, the Ashley executive who is heading the new initiative, told Furniture Today.

New York -- M.A.C. Cosmetics will open a flagship on a prime stretch of New York City’s Fifth Avenue, according to various reports.

The company will open up shop in November, on Fifth Avenue near 54th Street, in a space that formerly housed Elizabeth Arden's Red Door Spa, according to Racked.com.
 

DALLAS — Neiman Marcus reported total revenues of $1.06 billion for the third quarter compared with $983.8 million in the prior year. Comparable revenues increased 6.7%. Operating earnings for the third quarter of fiscal year 2012 were $146.6 million compared with $123.2 million for the third quarter of fiscal year 2011, an increase of 19%.

The company reported net earnings of $62.6 million for the third quarter compared with $46.2 million in the prior year, an increase of 35%.

New York -- PayPal has confirmed partnership with 15 national retailers, including J.C. Penney, American Eagle Outfitters, Toys “R” Us and Foot Locker, for its mobile wallet service.

The other new retailers accepting PayPay’s payment service are Barnes & Noble, Office Depot, American Eagle Outfitters, Abercrombie & Fitch, Rooms To Go, Jos. A. Bank , Aeropostale , Foot Locker , Nine West, Jamba Juice , Guitar Center, TigerDirect and Advance Auto Parts .

Hingham, Mass. -- Talbots said Friday that Sycamore Partners had walked away from negotiations over a proposed $215 million buyout of the retailer. The company, which also reported first quarter results, said it was exploring other strategic alternatives.

DALLAS — Neiman Marcus is rebranding its contemporary departments within each of the 42 Neiman Marcus stores as Cusp shop-in-shops. 

Neiman Marcus first launched the Cusp brand in 2006 with two freestanding stores that offered customers a contemporary assortment including apparel, shoes, handbags and accessories in a boutique environment. The brand has grown over time and now includes a total of six Cusp stores and Cusp.com.

Mahwah, N.J. -- Bombay & Co. Inc. has selected TD Retail Card Services, a unit of TD Bank, to create and administer its private label credit card.

Under the agreement, TD will direct all facets of the program for the Toronto-based company’s 50 stores located in Alberta, British Columbia, Newfoundland, Nova Scotia, Ontario and Quebec. The new Bombay & Co. credit card will offer consumers a full menu of deferred interest and equal pay programs.