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  • NRF pushes Congress for online sales tax

    National Retail Federation SVP David French told the House Judiciary Committee in a letter this week that legislation is needed to level the playing field between local retailers and out-of-state competitors, as the NRF continues to push Congress to pass legislation that would require online and remote sellers to collect state and local sales taxes.

  • Express net income, sales fall in Q4; plans new outlets

    Columbus, Ohio – Net income at Express Inc. fell 25% during the fourth quarter of fiscal 2013, dropping from $63.9 million to $47.9 million. Net sales declined 2% from $731.7 million, to $715.9 million.

    Same-store sales rose 1%. The company cited heavy promotions as impacting its quarterly results, which did not meet Wall Street expectations. Express intends to start opening outlet stores beginning in May 2014.

  • Jersey Mike’s opens at Kohl’s Plaza in Holmdel, N.J.

    Purchase, N.Y. — Jersey Mike’s Subs has opened a new shop at Kohl’s Plaza in Holmdel, N.J. Kohl’s and Stein Mart anchor the 184,575-sq.-ft. shopping center owned and managed by National Realty & Development Corp.

    The tenant line-up also includes 7-Eleven, Harmon Stores, Avenue, Wells Fargo and the Bayshore Academy of Dance.

     

  • Swatch sues Target

    New York -- Swatch Group SA is suing Target Corp. for illegally selling watches that copy Swatch watches.

    Swatch, in a lawsuit made public on Monday, accused the retailer of infringing its designs for "multi-colored" and "zebra watches." The watchmaker said the quality of the Target watches is inferior compared to its own and that their sale is likely to confuse consumers and hurt Swatch's sales.

  • Bon-Ton Stores CEO to step down in 2015

    York, Pa. -- Bon -Ton Stores said its CEO, Brendan Hoffman, will step down early next year. The announcement follows a disappointing fourth quarter for the company.

    Hoffman, a former CEO of Lord & Taylor, will leave Bon-Ton on Feb. 7, 2015, when his contract expires. He also will step down as director. Hoffman cited "strictly personal reasons" for his decision to leave.

    He was appointed CEO of Bon-Ton in February 2012.

  • Ross Stores to open 96 stores in 2014

    New York -- Ross Stores continues to expand in 2014. The off-price retailer has already opened 30 Ross Dress for Less and seven dd's Discounts stores in 14 different states, and there's more to come.

    "We remain on track to open a total of approximately 95 new locations in 2014, comprised of about 75 Ross Dress for Less and 20 dd's Discounts," said Jim Fassio, president and chief development officer. "Today, Ross Dress for Less is the largest off-price apparel and home fashion chain in the U.S.”

  • Ashley Stewart files bankruptcy; to close 27 stores

    New York -- Plus-sized retailer Ashley Stewart has filed for voluntary Chapter 11 bankruptcy protection. As part of its restructuring plan, the company announced it will immediately close 27 underperforming locations. Ashley Stewart currently operates some 168 stores. The company previously filed Chapter 11 in 2010.

    In a separate statement, the company said potential buyers have expressed interest in buying the chain.

  • Men's Wearhouse to acquire Jos. A. Bank for $1.8 billion

    New York -- Ending a five-month saga, Men's Wearhouse said it would acquire Jos. A. Bank Clothiers for about $1.8 billion, or $65 per share in cash. As part of the deal, Jos. A. Bank will terminate its plan to acquire Eddie Bauer from Golden Gate Capital.
     
    The boards of both companies unanimously  approved the transaction.

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