Department Store

San Francisco -- Gap Inc. will open its first franchise-operated Old Navy stores in the Philippines in 2014. Earlier this year, the company announced that it would begin franchising Old Navy stores internationally.

Gap will partner with Stores Specialists, which operates Gap brand and Banana Republic stores in-market, to open two Old Navy locations in the beginning of 2014 with plans to open additional stores by the end of the same fiscal year.

Sears Hometown and Outlet Stores saw net income for the second quarter drop to $9.1 million from $21.1 million a year earlier, due, in part, to expenses associated with its spinoff from Sears Holdings Corp, according to the company.

These results come a little more than a week after Sears Holdings saw revenues decrease to $8.9 billion for the quarter from $9.5 billion for the year-ago quarter. Fewer Kmart and Sears full-line stores accounted for approximately $210 million of that decline.

Hoffman Estates, Ill. -- Sears Hometown and Outlet Stores Inc.’s second-quarter net income dropped to $9.1 million, down from $21.1 million a year earlier, on expenses associated with its spinoff from Sears Holdings Corp. The company also announced that its board approved a $25 million buyback.

Revenue increased 2% to $656.9 million from $644.5 million. Same-store sales rose 1.4%, with an 8.2% increase for the chain’s outlet segment.

New York -- A controversial bill requiring Wal-Mart Stores Inc. and other large retailers to pay their employees a "living wage" of at least $12.50 an hour has been sent to District of Columbia Mayor Vincent Gray.   
    
The mayor has 10 business days, starting Tuesday, to either sign or veto the bill, which was passed by the D.C. Council at the beginning of July.

Fort Worth, Texas -- Designer Shoe Warehouse — DSW — has announced plans for a new store at The Shops At La Palmera, a 200,000-sq.-ft. outdoor shopping center in Corpus Christie, Texas, according to Trademark Property Company.

Construction has begun on the 18,000-square-foot DSW, which is located adjacent to Catherine’s. This is the first Corpus Christi location for DSW Inc., which is scheduled to open in early 2014.

Brisbane, Calif. -- Bebe Stores Inc. reported a loss for its fourth quarter amid weaker sales and markdowns.

The apparel chain posted a loss of $20.8 million for the three-month period ended July 6, compared with net income of $3 million in the fourth quarter last year.

Bebe's total revenue edged down to $119.2 million, from $131.5 million.

Hamilton, Bermuda -- Signet Jewelers Ltd.’s net income fell to $67.4 million for the quarter ended Aug. 3, down from $70.7 million a year earlier, impacted by the Mother’s Day calendar shift.  

Total sales increased 3.1% to $880.2 million, fueled by strong sales at the company’s Kay Jewelers and Jared stores in the United States. Sales were soft at its British chains.

Same-store sales were up 3.6%. At Kay, same-store sales rose 5.8%.

NASHVILLE, Tenn. — Genesco Inc., a specialty retailer which sells footwear, headwear, sports apparel and accessories, continues navigating through uncertain consumer environments as second quarter results fell short of expectations.