Department Store

Plano, Texas -- J.C. Penney answered Wall Street questions about whether or not the struggling department store retailer could stage a comeback — by posting better-than-expected profit and revenue in the second quarter.

Retail organizations may not typically seek the services of a “marriage counselor,” but for retailers looking to implement innovative and disruptive technologies, global startup investor and accelerator Plug and Play Tech Center can help find the perfect partner.

“We’re a marriage counselor between retailers and startups,” confirmed Michael Olmstead, director, Plug and Play Retail. “We gain an in-depth understanding of retailers’ pain points.”

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.   

Wet Seal is partnering with girl group Fifth Harmony for a new collection of clothes that will be rolled out over the next three seasons.

The line will feature styles modeled on each member of the five-piece group, which formed in 2012 during the second season of “The X Factor.” Basing different pieces of the collection on each member of Fifth Element means a diversity that will range from grunge looks to more dressy styles.

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.

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.

Kohl’s exceeded analysts’ profit expectations in the second quarter, but it wasn’t due to top line strength and now the company has a lot riding on the back-to-school season.