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Mark Shale files for Chapter 11 bankruptcy protection
Chicago -- Chicago high-end fashion retailer Mark Shale said Tuesday it has filed for reorganization bankruptcy.
The 83-year-old company is seeking strategic alternatives, including a partner to fortify the business, according to president Rich Myers.
The three existing stores – all in Chicago – will continue to operate during the reorganization process. -
Urban Outfitters Q2 profit up 8%; tops Street
Philadelphia -- Urban Outfitters Inc.’s profit for the second quarter rose 8% to $61.3 million from $56.7 million in the year-ago period, helped by strong sales as its namesake stores.
Total company net sales for the quarter, ended July 31, rose by 11% over the same quarter last year to $676 million. Same-store net sales, which include the direct-to-consumer channel, increased 4% for the quarter, while comparable store net sales decreased 1%.