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Charles Sparks designs new format for Neiman Marcus
Westchester, Ill. -- Charles Sparks + Co. announced the debut of its design for the new Neiman Marcus store in Walnut Creek, Calif. The 85,000-sq.-ft., three-level location represents a fresh new vision of modern luxury in a smaller format store for the luxury department store retailer.
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Charming Shoppes posts wider-than-expected loss; to close 90 to 150 stores
Bensalem, Pa. -- Charming Shoppes Inc. recorded a wider-than-expected loss for its fourth quarter as higher product costs and discounts at its Lane Bryant division cut into margins. The chain said plans to close between 90 to 105 underperforming stores this year.
Charming Shoppes, which hired Barclays Capital in December to help it review its options, posted a loss of $13.2 million for the three months ended January 28, 2012, compared with a loss of $30.4 million a year ago.