Department Store

Record Mother's Day sales couldn't lift profit at Stage Stores Inc., which narrowed its loss but reported disappointing same store sales in the first quarter.

Washington, D.C. - The Obama Administration’s plan to revise federal overtime regulations would likely “hollow out” low- and mid-level management positions in the restaurant and retail industries and result in a shift toward more hourly and part-time workers, according to a new National Retail Federation (NRF) report. The report, "Rethinking Overtime," found that the proposal could cost retailers millions of dollars in added costs and would disproportionally impact retailers operating in rural states.

Surging rents in Manhattan have claimed another victim, and this time it's one of the city's most iconic retail establishments.

Corte Madera, Calif. - RH (Restoration Hardware Holdings Inc.) is reportedly planning to open a more than 70,000-sq.-ft. RH Gallery format store at the Tivoli Village upscale shopping center in Las Vegas. According to the Las Vegas Review Journal, the store would be the largest Restoration Hardware location in the U.S.

Ascena Retail Group may be looking to attract younger, more career-oriented shoppers with its $2.15 buyout of rival Ann Inc.

Photo: Dov Charney

Los Angeles – In the latest set of dueling lawsuits to hit a major retailer, American Apparel is suing its founder and ousted CEO Dov Charney for violating a standstill agreement with the company. Standstill agreements typically limit the amount of stock in a company a party can buy during a certain period of time.

New York - BGC Partners Inc., a global brokerage company servicing the financial and real estate markets, has entered into an agreement to acquire Excess Space Retail Services Inc. Excess Space is a premier provider of real estate disposition, lease restructuring and lease renewal services, as well as related valuations for retailers nationwide and currently advises on 35.6 million-sq.-ft. of retail space in North America.

H&M aims to bring the haute couture of French design house Balmain to the masses with a new collection this fall.

Olivier Rousteing, head designer at Balmain, announced the partnership last night on Twitter, which H&M confirmed.