Direct To Consumer (DTC)

Columbus, Ohio -- Express Inc. said on Thursday that its fiscal first-quarter profit fell to $5.08 million, from $32.4 million a year earlier. The company also announced it will close approximately 50 stores during the next 36 months, primarily at the end of their leases, even as it ramps up expansion of its of its new outlet-store concept. Express debuted its outlet format this past April.

New York — Skincare specialist Infinite Beauty has leased its first New York City location at 1031 Third Avenue and 61st Street, according to Faith Hope Consolo, chairman, and Joseph Aquino, executive VP of Douglas Elliman’s Retail Group, which represented both the landlord and tenant in the transaction.

The retailer has stores in affluent areas along the east and west coasts, from Boca Raton, Fla., to Annapolis, Md., and White Plains, N.Y., to Roseville, N.Y., and Palo Alto, Calif.

Although controversial Abercrombie & Fitch CEO Mike Jeffries said he was pleased that the company’s earnings for the first quarter ended May 3 were in line with expectations, comparable-store sales dropped for the ninth straight quarter.

The company widened its loss in the quarter to $23.7 million, or 32 cents per share, from $7.2 million, or 9 cents per share, in the prior-year quarter. Total net sales decreased 2% to $822.4 million, while comparable-store sales decreased 4%.

New York -- Teen retailer Delia’s announced that its CFO, David Dick, has resigned. He will remain with the company through Aug. 1.

Washington, D.C. -- Online shopping is showing rapid growth compared to the rest of the retail trade sector, with the number of establishments growing 27.4% between 2011 and 2012, according to new U.S. Census Bureau statistics released today. Drawn from County Business Patterns: 2012, the new data provides the only detailed annual information on the number of establishments, employees and payroll for nearly 1,200 industries at the national, state and county levels.

New York – Specialty women’s apparel retailer Cache Inc. intends to offer and sell, subject to market and other conditions, $14 million of its common stock in a public offering. Cache intends to grant the underwriter a 30-day option to purchase up to an aggregate of 15% of the amount of common stock offered.

Cache expects to use the net proceeds from the offering for working capital and general corporate purposes. In connection with the offering, B. Riley & Co., LLC is acting as the sole underwriter.

Philadelphia – The board of directors of Urban Outfitters Inc. has authorized the repurchase of 10 million common shares under a share repurchase program. Pursuant to this program, the company, at its discretion, may repurchase its common shares from time to time, subject to market conditions and at prevailing market prices.

Urban Outfitters has repurchased all of the shares available under its previous share repurchase programs, including the 10 million common shares authorized by the board of directors in August 2013.

New York -- Legendary Los Angeles retailer Fred Segal is going global. The company, which was acquired by media and licensing company Sandow in 2012, plans to open up to 10 luxury retail lifestyle centers in the United States and across the world during the next five to 10 years. And leading the expansion will be its newly hired CEO, retail veteran Paul Blum, who most recently served as CEO of Juicy Couture. Prior to that, he served as CEO of David Yurman and Kenneth Cole Productions.