Direct To Consumer (DTC)

Traffic and conversion troubles led to a same store sales decrease for fashion retailer Bebe in the second quarter.

For the period ended Jan. 2, net sales decreased 5% to $122.4 million, as compared to $128.9 million in the second quarter of fiscal 2015. The net sales decrease was primarily driven by a comp decrease and store closures. Same store sales decreased 2.5% compared to an increase of 8% in the same period of the prior year. Traffic and conversion declined while average unit retail was flat.

L Brands chairman and CEO Leslie Wexner is assuming leadership of the company’s biggest division, Victoria’s Secret, after the retailer announced that CEO Sharen Jester Turney had resigned. Her sudden and unexpected departure follows a tremendous growth run for the brand.

Turney spent 16 years with Victoria’s Secret, joining the brand in 2000 as president and CEO of Victoria’s Secret Direct. She became CEO of brand in 2006. She will continue to serve as an advisor to the business, according to an L Brands statement.

Boston -- Gordon Brothers Group has acquired the inventory, equipment and intellectual property assets of CHEF’S Catalog, including brands, trademarks and domain names. In January CHEFS’ sent an email to its shoppers saying goodbye after 36 years.

Blue Nile made its brick-and-mortar debut last June, and the company is so pleased with the results that it plans to add more stores.

The online jeweler announced it will open its second physical outpost, at the Westchester Mall in White Plains, New York, by early summer. It is the first of up to four locations the company plans to open this year.

Private equity firm Sun Capital Partners plans to accelerate growth of Furniture Factory Outlet following its acquisition of the 36 store chain.

Based in Fort Smith, Ark., Furniture Factory Outlet (FFO Home) operates 36 stores in Arkansas, Missouri, Oklahoma, and Kansas. Sun Capital said it acquired the company, billed as a value-oriented home furnishings retailer, from Alpine Investors and believes significant expansion opportunities exist. The company also manufactures bedding under the Comfort Coil and Natural Elements brands.

Cabela’s EVP and Chief Commercial Officer Scott Williams has been elevated to the role of president and given additional responsibilities in a move that positions him to succeed longtime CEO Tommy Millner. 

Williams will continue to report to Millner. Williams will take on additional responsibility for U.S. retail operations and all operations in Canada.

Surpassing $3 billion in annual sales last year was a big deal for Skechers and now CEO Robert Greenberg is banking on the addition of more than 300 new stores to help the company set another sales record in 2016.

Skechers plans to open between 330 and 340 stores this year, projecting it will have a year-end total of 1,650 locations, of which 575 will be company owned. The accelerated pace of expansion is easy to understand given the powerful contribution the company’s physical footprint had on its fourth quarter and full year sales and profit performance.