Department Store

The off-price retailer sector will continue to build momentum and outperform the apparel retail segment during the next five years.   That’s according to a new report, "Off-Price Retailers Continue to Build Momentum on Value Appeal,” by Moody's Investors Service. Off-price retailers are anticipated to experience apparel revenue growth of 6% - 8%, outperforming the broader apparel segment by a collective 4% in the timeframe.  

Dick’s Sporting Goods is expanding its footprint in the Houston market.   The retailer is looking to open six stores this fall in the Houston area, up from the five it had previously announced, the Houston Business Journal reported.   In November, General Growth Properties announced it had signed lease agreements with Dick’s to open in five GG shopping centers in Houston: Baybrook Mall, Deebrook Mall, First Colony Mall, The Woodlands Mall, and Willowbrook Mall.

Gap Inc. unveiled preliminary results for the second quarter that were not very promising as Banana Republic continues to bleed.   The retailer said revenue and same-store sales slipped for the month of July, and for the second quarter, which ended July 30.   Gap’s net sales for the quarter were $3.85 billion, compared with $3.90 billion for the second quarter last year.  

Aeropostale is negotiating a potential sale to private equity firm Versa Capital Management LLC, Reuters reported. Versa specializes in distressed investments.      In court papers filed at the end of last week,the retailer said it has been in discussions with Versa regarding a possible stalking horse bid at the chain’s bankruptcy auction later this month. The bid by Versa could include a cash payment for Aéropostale’s inventory, and the assumption of more than 500  

Uniqlo is in the final stages of an extensive makeover of its first-ever store in New York City.      Located in Manhattan’s Soho neighborhood, the 10-year-old, 36,000-sq.-ft. store is being redone to the theme of "a new Tokyo in Soho." Scheduled to unveil its new look on Sept. 2, the store was the chain’s first global flagship. Hiroshi Taki, Uniqlo U.S.A. CEO, described it as “an important milestone in the company's plans to expand internationally.”  

Gap Inc. unveiled preliminary results for the second quarter that were not very promising as Banana Republic continues to bleed. The retailer said revenue and same-store sales slipped for the month of July, and for the second quarter, which ended July 30. Gap’s net sales for the quarter were $3.85 billion, compared with $3.90 billion for the second quarter last year.

Grandin Road will step into the physical space in what promises to be a frightening debut.   The direct retailer of home furnishings and décor will open a Halloween pop-up at Macy’s flagship in Herald Square in New York City. The 1,400-sq.-ft. shop will showcase Grandin Road’s Halloween decoration collection, which has grown steadily over the past decade.  

Tuesday Morning is showing off its updated prototype at two locations.   The chain’s expanded store at Preston Shopping Center, Dallas, and new store at Parker Central Shopping Center, in Plano, feature new fixtures, flooring, improved lighting and a redesigned store layout that makes it easier for customers to shop. The format also includes an expanded assortment of goods.