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Department Store

  • Liz Clairborne narrows loss

    New York City -- Liz Claiborne narrowed its fourth-quarter loss as the company trimmed expenses. But it issued a lackluster outlook for its coming fiscal year.

    The company said Thursday that it lost $30.1 million, compared with a loss of $41.7 million in the prior-year period.

    Revenue dropped 7% to $703.7 million from $756.5 million, down mostly because of a transition in the licensing model under its J.C. Penney Co. and QVC deals.

    Still, the results topped Wall Street's $684.6 million

  • Wolstein stepping down as executive chairman of the Developers Diversified Realty board of directors

    Beachwood, Ohio -- The Developers Diversified Realty Corp. board of directors announced the company and Scott A. Wolstein have agreed he will step down from the role of executive chairman of the board of directors.

  • Abercrombie Q4 earnings nearly double

    New Albany, Ohio -- Abercrombie & Fitch Co.'s fiscal fourth-quarter net income nearly doubled on strong sales overseas and better U.S. results. The retailer reported net income of $92.6 million, up from $47.5 million a year ago.

    Revenue for the period ended Jan. 29 rose 23% to $1.15 billion, from $936 million. Domestic revenue rose 13%, while international revenue jumped 61%.

    Same-store sales rose 13%.

  • CityTarget is name for retailer’s small format

    Minneapolis -- Another Target store is coming to downtown Chicago as the retailer disclosed it would open a small-format store under the new CityTarget banner in the Sullivan Center development at South State Street and Madison.

  • Family Dollar gets $7.6 billion buyout bid from Peltz

    New York City -- Family Dollar Stores received a buyout offer on Tuesday from a New York hedge fund at $55 to $60 per share, a 36% premium over yesterday’s closing price. The offer, which values the company at up to $7.6 billion, was made by Trian Group, which is headed by activist investor Nelson Peltz.

    Trian Group has been accumulating shares of the discount retailer in recent months, and Peltz has met with management to discuss ways to boost its performance.

  • SPL Realty Partners opens in southern California

    Santa Monica, Calif. -- Real estate broker Scott P. Lifschultz announced he has formed SPL Realty Partners, a retail real estate brokerage and consulting company.

    Current clients include CVS/pharmacy, Dean & Deluca, LandMark Retail Group, Johnny Was, Casual Male Retail Group and Destination XL. Based in Santa Monica, Calif., the company’s services include tenant representation, strategic planning, site selection, transaction management, owner representation, leasing & marketing, consulting and investment sales.

  • Long-time fashion exec to head Nine West Direct

    NEW YORK -- The Jones Group Inc. announced that it has appointed Sally Ross EVP merchandising for Nine West Direct, effective immediately. Ross' focus will be on leading the merchandise initiatives for Nine West Retail, Nine West Outlet and NineWest.com, and she will report directly to Ron Offir, President, Jones Direct Group, the company reported.

  • Sears' Lampert reports 5.8% stake in Gap

    New York City -- A Tuesday report by the Wall Street Journal said that hedge fund billionaire and Sears Holding Corp. chairman Edward Lampert has reported holding a 5.8% stake in Gap Inc.

    Lampert reported the stake in a 13G filing, or a filing for passive investors, with the Securities and Exchange Commission late Monday.

    His ESL Partners company and affiliates reported beneficially holding 35 million common shares.

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