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Department Store

  • New York & Company maintains Q3 loss plans five new stores

    New York — New York & Company Inc. maintained an essentially flat net loss in the third quarter of fiscal 2015, even as other financial metrics improved. The retailer reported net loss of $146 million, compared to $147 million the same period the previous fiscal year.

    Increased selling, general and administrative expenses, including charges related to headcount reductions, consulting fees and legal and moving expenses that were part of an ongoing business re-engineering project, helped keep New York & Company in the red.

  • Completed merger creates third-largest U.S. specialty retailer

    Mahwah, N.J. — Ann Inc. is no more. 

    Ascena Retail Group Inc. has completed its acquisition of Ann Inc., formerly called Ann Taylor. Shares of Ann Inc. will be delisted from the NYSE and trading  ceased at the close of business on Friday, August 21st.   

  • Gordmans joins e-commerce era as performance improves

    It is a case of better late than never at value priced department store retailer Gordmans Stores where the company has the distinction of being one of the last major retailers to sell merchandise on the Internet.

    Omaha, NE-based Gordmans has grown to 101 stores in 22 states and in the company’s second quarter it achieved the somewhat belated milestone of selling online.

  • Gordmans shrinks Q3 loss, will open two stores

    Omaha, Neb. — Gordmans Stores Inc. was able to reduce its net loss in the third quarter of fiscal 2015 as a result of gross margin improvements. Net loss totaled $3.03 million, compared to $3.19 million the same quarter a year earlier.

    Net sales increased 2% to $143.4 million from $141 million Same-store sales dropped 1.6%, negatively impacted due to a sales tax holiday shift from July to August.

    Gordmans intends to open two additional new stores in the third quarter of 2015 and close one store later this year when the lease term expires.

  • Report: Wal-Mart rearranges merchandising responsibilities

    Bentonville, Ark. — Wal-Mart Stores Inc. is rearranging how responsibilities are handled by its merchandising executives. According to the Wall Street Journal, an internal company memo indicates that among the changes is a promotion to chief merchandising and marketing officer for Wal-Mart China for Marybeth Hays, currently serving as senior VP of home for Wal-Mart U.S.

    Hays will replace John Furner in that role. Furner will return to the U.S. in an unspecified position.

  • Omnichannel strategy lifts New York & Company

    New York & Company Inc. says a stronger focus on omnichannel is helping the retailer increase traffic in its stores and sales online.

  • Charles & Colvard names two new board members

    Morrisville, N.C. — Jewelry retailer Charles & Covard Ltd. has appointed Jaqui Lividini and Suzanne Miglucci to serve on the company’s board of directors. Lividini previously served as senior VP fashion merchandising & communications at Saks Fifth Avenue and has served as CEO and founding partner of brand strategy company Lividini & Co. since 2005.

    Miglucci previously served as senior director of global procurement solution marketing for SAP and has served as chief marketing officer of ChannelAdvisor Corp. since June 2012.

  • Ross Stores beats Street in Q2

    Dublin, Calif. — Ross Stores Inc. surpassed Wall Street expectations for profit and revenue in a successful second quarter of fiscal 2015. Net earnings rose 8% to $259 million from $240 million the same quarter the prior fiscal year.

    Sales rose 9% to $2.97 billion from $2.73 billion, with same-store sales up 4%

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