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Direct To Consumer (DTC)

  • Lululemon 1Q profit rises 40%, outlook disappoints

    Vancouver, BC, Canada -- Lululemon Athletic Inc. reported Thursday that profit for the fiscal first quarter surged 40% to $46.4 million, compared with $33.4 million last year, but lowered second quarter and full-year forecasts have alarmed investors.

    Revenue for the quarter surged 53% to $285.7 million, beating Wall Street’s expected $274 million, and same-store sales rose 25%. Online sales nearly tripled in the quarter.

  • Tommy Bahama announces senior management appointees

    Seattle -- Tommy Bahama Group said Wednesday that Joel Gardner has been promoted to senior VP retail, and Bornie Del Priore has been named VP of Tommy Bahama Footwear, a new division for the company.

    Gardner has been with Tommy Bahama since 2006, most recently as VP retail planning and merchandising. Before joining Tommy Bahama, he was VP retail at The Orvis Co.

    Del Priore has spent the last four years at Tommy Hilfiger USA, most recently as executive VP accessories. She also spent 15 years at Ralph Lauren Footwear.

  • Gymboree swings to profit in Q1; plans 105 new stores in 2012

    San Francisco -- Gymboree Corp. reported Thursday net income of $4.2 million for the quarter ended April 28, compared with a loss of $10.4 million in the same period last year.

    Sales rose 10.2% to $297.8 million, and same-store sales edged up 1%.

    The retailer said it is on track to open 105 stores in fiscal 2012, which include 80 Crazy 8 locations. Crazy 8 is Gymboree’s discount concept.

  • Claire’s Stores names former Disney Store executive as CEO

    New York -- Claire’s Stores Inc. has named James D. Fielding, former president of Disney Stores Worldwide, as CEO, effective June 18, 2012. Fielding, who resigned from Disney on Monday, will also join Claire’s board of directors.

    “I look forward to capitalizing on the many growth initiatives available to the company, including new stores, development of the Icing concept, continued international expansion in markets such as Mexico, India and China, and optimization of e-commerce,” Fielding said in a statement.

  • Ann Taylor's Loft sets Canadian debut

    Toronto -- Loft, a division of Ann Inc. — formerly known as Ann Taylor — will open its first Canadian location at Yorkdale Shopping Centre in Toronto, Ontario, in late 2012.

    "Canada represents a natural step as we move to expand internationally, and we are excited to open our first store outside the U.S. in such a vibrant city like Toronto," said Gary Muto, brand president.

  • Private equity firm buys majority stake in Party City in $2.7 billion deal

    New York -- The Boston-based private equity firm Thomas H. Lee Partners has agreed to acquire a majority stake in Party City Holdings Inc., Rockaway, N.J., in a deal valued at $2.69 billion.

  • Furnitureland South to offer private label credit card from TD Retail Services

    Mahwah, N.J. -- Furnitureland South, in Jamestown, N.C., has selected TD Retail Card Services to develop and administer its new private label credit card.
     

  • Toys'R'Us brings 'World of Madagascar' to stores

    WAYNE, N.J.

  • Nike puts Cole Haan on the selling block

    New York -- Nike Inc. is trimming its portfolio. The company announced it will sell its Cole Haan and Umbro brands to cut costs and focus on its core namesake brand.

    Nike acquired Cole Haan, which specializes in casual and dress shoes, handbags and accessories, in 1988 for $80 million, plus the assumption of $15 million in debt. Cole Haan operates more than 180 stores throughout the United States, Canada, the Middle East and Asia.

    Nike bought the soccer gear and apparel company Umbro in 2008 for $565 million.

  • J. Crew Q1 profits nearly double; same-store sales jump 16%

    New York -- J. Crew Group recorded a boost in first-quarter net income on strong sales. Profits nearly doubled to $30.7 million in the quarter ended April 28, from $16.2 million in the year-ago period.

    Revenue grew 23% to $503.5 million, with same-store sales increasing 16%. Store sales were up 26% to $354 million, while direct sales grew 19% to $143.4 million.

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