Department Store

San Francisco -- Gap Inc. posted strong sales for January and issued a fourth-quarter profit forecast that topped expectations.

The retailer said its same-store sales rose 1% in January. Analysts had expected a drop of 1.3%. Net sales for the four weeks that ended Feb. 1 were $899 million, compared with net sales of $1.13 billion for the five-week period ended Feb. 2, 2013.

For the fourth quarter, net sales were $4.58 billion, compared with $4.73 billion a year earlier.

Bebe Stores had a difficult second quarter. The company reported a net loss of $5.5 million, which it said was partly fueled by declining mall traffic and an aggressive promotional environment across the industry.

Net sales declined 4.1% to $130 million, from $135.5 million reported for the second quarter a year ago. Same-store sales decreased 1.9%.

CEO Steve Birkhold acknowledged challenges, but cited sequential improvement in same-store sales and holiday sales, as well.

Portland, Ore. — Cypress Equities, the management company for Lloyd Center in Portland, Ore., has announced that the Center’s owners intend to purchase the 130,000-sq.-ft. building currently owned and occupied by Nordstrom. The acquisition is part of the center’s recently announced renovation plans.

Plans call for the building to change hands in January of 2015. Nordstrom has notified its employees that the store will close.

Toronto -- Hudson’s Bay and Lord & Taylor are offering True Fit’s fit personalization technology to consumers at TheBay.com and LordandTaylor.com. In less than 60 seconds, consumers can create a True Fit profile at either site, enabling them to get a personal fit rating and size recommendation for every style.

Ann Inc., parent company of Ann Taylor and The Loft, expects net sales and same-store sales to increase for the fourth quarter and full year fiscal 2013, on a year-over-year basis.

For the full year, Ann Inc. issued guidance for total net sales of $2.49 billion, reflecting a total net sales increase of 5% and a same-store sales increase of 2%.

Retail industry sales (which exclude automobiles, gas stations, and restaurants) will increase 4.1% in 2014, up from the preliminary 3.7% growth seen in 2013, according to the National Retail Federation. The association’s 2014 economic forecast calls for online sales to grow between 9% and 12%.

A number of factors contributed to NRF’s 2014 economic forecast, including:

Kohl’s January sales were significantly lower than planned as a result of lower traffic and low levels of clearance merchandise.

Comparable-store sales decreased 2%. Combined November and December same-store sales increased 0.8%.

Plano, Texas – J.C. Penney Company has entered into a new partnership to develop the vacant land around its Plano, Texas, home office in the Legacy Business Park. The new partnership will be managed by Team Legacy, a venture of the Karahan Companies, Columbus Realty, and KDC.