Department Store

Earlier promotional shift, late Hanukkah to affect shopping season

With each passing year, it seems like the twinkly lights, newspaper inserts and door busters galore start earlier and earlier. The 2014 holiday season will be no different. As stores pull out all the stops to offer holiday promotions as early as possible this upcoming season, consumers will continue to shift their shopping dollars to November.

When the clock strikes midnight on Halloween, it will kick off the official holiday shopping season, which is measured from Nov.

Los Angeles -- Guess on Wednesday reported second-quarter net earnings of $22 million, a 50.5% decrease compared to adjusted net earnings of $44.3 million for the year ago period. The retailer, which also cuts its fiscal year outlet, noted that soft traffic and promotional activity have continued to put its North American stores under pressure.

Express CEO Michael Weiss was optimistic about the retailer’s progress in the second quarter, especially considering the difficult environment the company has been dealing with in recent months.

Toronto - Hudson’s Bay Company has appointed John Caplice to the position of senior VP treasury and investor relations, effective Sept. 2. He most recently served as senior VP treasurer & investor relations at Shoppers Drug Mart Corp. from 2000-2014.

While at Shoppers Drug Mart, Caplice was responsible for treasury and compliance activities, as well as developing and implementing communication strategies.

Caplice will be based in Toronto and will report to Paul Beesley, CFO, Hudson’s Bay Company.   

Seattle – Nordstrom Inc. is making it easier for its customers to shop on Instagram. The retailer has become the first company to launch the Like2Buy platform, which is designed to enable a more seamless shopping experience for customers on Instagram.  Like2Buy allows Nordstrom.com customers to directly purchase items featured on the retailer’s Instagram page.

Sebring, Fla. -- BV Belk Properties has retained JLL Retail to manage and lease Lakeshore Mall, a 490,000-sq.-ft. retail center located in Sebring, Florida. The mall was built in 1992, and is the only enclosed regional mall within 40 miles of Sebring.
 
“I see nothing but a good future for Lakeshore Mall, and I am thrilled at the opportunity to take a steady center and make it extraordinary for locals and passer-byes with the support of JLL,” said B.V. Belk Jr., owner of BV Belk Properties.

Chicago – A former bank building in Chicago is the planned site for a new mixed use retail/residential complex. According to Crain’s Chicago Business, Novak Construction Company intends to build a 60,000-sq.-ft. ground floor retail center with 80 to 160 residential units located above it.