Department Store

A brand known for its American craftsmanship has opened a flagship in the heart of the Ginza, one of the premier shopping districts in Tokyo.

The 2,000-sq.-ft. space marks the new face of Cole Haan for its retail stores as it expands. It blends tradition and modernity in a casually elegant environment, with distinct presentations for both female and male shoppers.   

Despite an increase of 1% in comparable store sales, Dillard’s CEO William T. Dillard II expressed disappointment in the company’s bottom line performance.

The company’s net sales for the 13 weeks ended Aug. 2 were $1.475 billion, compared to net sales of $1.480 billion for the 13 weeks ended Aug. 3, 2013. Net sales include the operations of the company’s construction business, CDI Contractors.

Little Rock, Ark. – Dillard’s Inc. reported net income of $34.5 million for the second quarter of fiscal 2014, down 5% from $36.5 million the same period the prior year. Increased markdowns and the loss of after-tax credits and gains drove the decline in net income.

Phoenix -- X Team International partner Velocity Retail Group has completed a lease with At Home for a 104,967-sq.-ft. store in Tempe, Arizona. The new At Home concept is owned and operated by home décor retailer Garden Ridge.
     
A décor superstore that provides selections of patio furniture, wall décor, and decorative accents, rugs and housewares, At Home recently opened at Arizona Mills, a Simon shopping center located at the northeast corner of Baseline Road and Interstate 10.

Seattle -- Just two weeks after announcing its $350-million acquisition of men’s personalized clothing service Trunk Club, Nordstrom Inc. reported second-quarter earnings and sales in line with Wall Street projections.

Profit for the quarter was flat at $183 million, and sales climbed 6.2% to $3.3 billion, from $3.1 billion last year. Same-store sales rose a respectable 3.3%.

Same store sales growth of 6% and e-commerce strength helped J.C. Penney dramatically reduce its second quarter operating loss and demonstrate growing momentum of its turnaround.

Sales at the operator of 1,060 stores increased to $2.8 billion from $2.66 billion and the 6% comp increase the company reported was against an easy prior year comparison when comps declined 11.5%. Online sales through jcp.com were $249 million for the quarter, up 16.7 % versus the same period last year.

Menomonee Falls, Wis. – Kohl’s Corp. had a relatively flat second quarter of fiscal 2014 compared to the same period the previous year. Net income slightly rose to $232 million from $231 million, while sales fell 1% to $4.24 billion from $4.28 billion.

Same-store sales dropped 1.1%, although Kohl’s said they turned positive in July. Kohl’s plans to open four new stores in fall 2014, including one store which was temporarily closed in the first quarter for a complete re-build.

Nordstrom’s second quarter earnings were in line with its expectations. The results come two weeks after the company said it was acquiring Trunk Club, a men’s personalized clothing service, for $350 million.

Profit for the quarter remained flat compared to last year’s second quarter at $183 million. Net sales for the quarter were $3.3 billion, a 6.2% increase from $3.1 billion in the prior-year quarter. Comparable sales increased 3.3%.