Department Store

New York City -- Gap executives reaffirmed its commitment to reducing square footage at home, aggressive international expansion and online growth during a presentation at Gap Global Creative Center in New York City. Gap also revealed that its online-only Piperlime division will explore a store concept next year and is testing men’s apparel.

Tokyo -- Fast Retailing Co., parent to the Uniqlo chain of stores, reported Wednesday that profit for the full year fell 12% to $709.2 million. The company blamed the performance decline on bad weather, but said it will accelerate store openings overseas, which will compensate for the decline.

Washington, D.C. -- The International Council of Shopping Centers released a statement that it is in support of the Marketplace Equity Act, which was introduced to Congress on Wednesday.

NEW YORK — Uniqlo’s NYC flagship may at first seem out of place amongst its Fifth Avenue neighbors, including luxury brands Tiffany & Co., Bergdorf Goodman, Louis Vuitton and Prada, but the location signifies the brand’s “made for all” mantra and its appeal to customers of all income levels.

Houston -- Stage Stores said Wednesday it will launch a new off-price concept, called Steele’s, to be rolled out in small-town America.

The first three stores are slated to open on Nov. 1, in Beeville, Texas; Bastrop, La.; and Minden, La.; the company said it plans to open an additional 25 to 35 new Steele’s stores in 2012.

New York City -- Uniqlo, the expansion-minded Japanese apparel retailer, on Friday will open its largest store in the world, an 89,000-sq.-ft. flagship on Fifth Avenue. The three-level store reflects the chain’s ambitious designs on the United States and also the changing nature of Fifth Avenue, which is experiencing an influx of moderately-priced retailers.

Uniqlo is looking to grow its business to $50 billion by 2020. U.S. expansion figures into its strategy.

SAN FRANCISCO — Gap Inc. is continuing its expansion into Latin America with the opening of its first stores in South America in Chile this month. The company also announced plans to open Gap and Banana Republic stores in Panama and Colombia in 2012.

Plano, Texas -- J. C. Penney Co. said Wednesday it will acquire the worldwide rights for the Liz Claiborne family of brands, as well as the United States and Puerto Rico rights for the Monet brand for $267.5 million.

The company has been the exclusive licensee for all Liz Claiborne and Claiborne-branded merchandise in the United States and Puerto Rico since August 2010.