Department Store

The menswear market is hot. Men’s apparel sales in the United States rose 2% in 2014 to $61.3 billion, up from $60.8 billion in 2013.

And Men’s Wearhouse — one of North America’s largest menswear specialty retailers with 1,758 stores — has been taking note.

The retailer is capitalizing on the category’s growth via acquisition-fueled expansion, new designer collections and more customized products and service.

New York -- The off-price segment is on fire, but newcomers to the sector should watch out, warns a report by Moody’s Investors Service.

The U.S. off-price apparel and home products segment continues to grow rapidly as consumers who developed a taste for cheaply priced luxury goods during the recession keep up their hunt for bargains, Moody's Investors Service said in a new report.

Montreal - Birks Group Inc., which operates 47 luxury jewelry stores in Canada, Florida and Georgia, reported a growing net loss in first quarter 2015 despite improvements in net and same-store sales. Net loss totaled $8.63 million, up from $5.8 million the same period a year earlier.

Although net sales rose 7% to $301.64 million from $281.16 million, increases in cost of sales, selling, general and administrative (SG&A) expenses, restructuring, debt extinguishment and asset impairment helped expand net loss. Same-store sales increased 16%.

Cincinnati -- Consumers, especially millennials, are willing to ante up for fee-based loyalty programs.

In a survey by LoyaltyOne, 62% of respondents said they’d consider joining a fee-based rewards program if their favorite retailer offered one. The number was even higher among millennials with 75% of 18-24 year-olds and 77% of 25-34 year-olds saying they’d consider joining a fee-based rewards program.

York, Pa. - The Bon-Ton Stores Inc. is selling six stores for $84 million to CPA: 17 – Global, a non-traded real estate investment trust (REIT) of global net lease REIT W.P. Carey Inc. Bon-Ton will lease the stores back.

Proceeds from the transaction will be used to pay one of two of the company’s mortgage loans due in April 2016. Each loan has about $105 million in principal and consists of 12 properties. Bon-Ton is actively pursuing refinancing options for the second loan.

The Bon-Ton Stores is looking to help pay off a $105 million mortgage on 12 properties with a new deal.

The retailer announced it will sell six properties to CPA:17-Global, a real estate investment trust of W.P. Carey, and lease them back. The deal will generate $84 million for Bon-Ton.

In December 2014, Ecova released the findings of its 2015 Energy and Sustainability Predictions survey to better understand what’s on the minds of those involved in energy and sustainability management.

New York -- It’s official: Toys “R” Us is moving out of Times Square and Gap is moving in, but not just with one store.

Gap is planning to open two separate flagships, one for its namesake brand the other for Old Navy, in the space now occupied by Toys “R” Us.

“We're pleased to confirm our plans to construct our newest Gap and Old Navy flagship stores in one of one of the world's most well-known locations – Times Square,” the company said.