Department Store

Minneapolis – Target Corp. exceeded Wall Street projections with net earnings of $753 million in the second quarter of fiscal 2015, a 221% increase from $234 million the same period the prior fiscal year. Declining selling, general and administrative (SG&A) expenses and loss from discontinued operations helped boost profits as sales climbed.

Target reported net sales of $17.4 billion, up 2.8% over the same period last year.

While Abercrombie & Fitch and Aeropostale continue to struggle against sharp sales declines, American Eagle has managed to win back shoppers, if its second quarter results are any indication.

Specialty retailer Francesca's is losing its head merchant.

CMO Sei Jin Alt is resigning to spend more time with her family and pursue other interests, the company said. The company has initiated a search for a new Chief Merchandising Officer. To facilitate a smooth transition, Alt will remain in her current role until Nov. 20.

New Albany, Ohio - Abercrombie & Fitch Co. has named a new brand leadership team the retailer hopes will collectively help drive the Abercrombie brand forward.  

The new brand leadership team includes the following executives:

• Stacie Beaver, general manager for Abercrombie Womens. Having held a variety of senior positions at Abercrombie for more than 15 years, Beaver most recently led the Bottoms business for men and women across Hollister and Abercrobmie.
 

New York - Saks Fifth Avenue Off 5th plans to open a new store in spring 2016 at Gateway Shopping Centers in Austin, Texas. The new 50,000-sq.-ft. store will be fashioned in an open, modular layout, and feature a unique and unparalleled selection of designer finds for both men and women.

New York – At least a few shoppers reportedly received a substantial windfall as a result of a computer glitch at Bloomingdale’s. According to BuzzFeed, some members of the upscale chain’s loyalty program were accidentally issued as much as $25,000 in store credit last week, and at least one customer used the unintentionally generous offer to obtain free diamond earrings.

Despite efforts by her previous employer to block the transition, former Kohl’s CIO Janet Schalk is joining Hudson’s Bay Co. in the same capacity.

Omaha, Neb. – The retail e-commerce landscape just got a little wider. Discount department store retailer Gordmans Inc. is jumping from operating 101 brick-and-mortar stores in 22 states to offering an e-commerce site for consumers across the country.

The online store also offers an extended assortment beyond what's available in-store. This includes broader sizes and styles in the dedicated Levi's shop, MLB, NCAA and NFL sports team apparel and an expanded selection of holiday décor.