Direct To Consumer (DTC)

Chicago -- Teen retailer Claire's Stores provided some hope that discretionary spending is improving by reporting net sales of $421.9 million for the fiscal 2010 fourth quarter, an increase of $11.2 million, or 2.7% compared with the fiscal 2009 fourth quarter. Consolidated same-store sales increased 3.2% in the fiscal 2010 fourth quarter consisting of a 4.7% increase in North America and a 0.6% increase in Europe.

Anaheim, Calif. -- Pacific Sunwear of California announced that Michael Kaplan will join the company as senior VP and CFO, effective May 2. He will be replacing Mike Henry who became interim CFO in November 2007 and was named CFO in January 2008.

Most recently, Kaplan was CFO of Harbor Freight Tools, a 349-store retailer of proprietary branded tools. Prior to joining Harbor Freight Tools in 2010, he was a senior executive of Gap Inc. from 2005 to 2010.

New York City -- Gap has chosen Manhattan's Upper West Side for its second freestanding Athleta store, Crain’s New York Business reported.

The report said has signed a lease to open a 3,500-sq.-ft. Athleta at 216 Columbus Ave. at W. 70th Street. The store will open in the fall, and Gap is already seeking more New York area locations, according to Crain's.

Gap bought Petaluma-based Athleta, a catalog and website that sell women's athletic clothes, for $150 million in 2008.

New York City -- Women’s fashion apparel retailer Francesca's Holdings Corp. filed for up to an estimated $150 million to be raised in an initial public offering.

The company has about $41.4 million in proceeds from the offering earmarked toward repaying a senior secured credit facility, Dow Jones Newswires reported. Remaining funds may be used for opening new stores and growing its e-commerce business.

For the year ended Jan. 29, Francesca's same-store sales climbed 15% on top of a 9.8% increase a year earlier.

Gap Inc. wants international and online sales to account for 30% of its revenues within two years and a restructuring announced this week is expected to play a role in facilitating that growth.

The company said it would consolidate four existing international business units into one under the leadership of Stephen Sunnucks, a 30-year retail veteran who joined Gap five years ago.

New York City -- A report Monday by the Wall Street Journal said that Dish Network Corp. will assume leases on more than 500 Blockbuster stores after it completes its acquisition of the video-rental chain.

The lease takeovers will assure that Blockbuster will maintain some physical presence.

In a filing with the U.S. Bankruptcy Court in Manhattan, Blockbuster also listed hundreds of locations where it plans to reject leases, as its number of open stores continues to dwindle.

San Francisco -- Gap said Tuesday that it is establishing an international division, based in London, to ramp up overseas growth, and will open its first Old Navy stores abroad -- in Japan -- by 2012.

Gap said it has set a goal for international and online sales to make up 30% of its total by 2013, up from 22% in 2010 and 14% in 2006. The new international division will oversee stores across Europe, the Middle East, North Africa, Asia Pacific and South America.

Minneapolis -- Best Buy Co. said Thursday that it plans to open hundreds of wireless device stores, as well as expand online and in China in an effort to be more competitive as consumers up their online shopping. The chain is also scaling back the size of its signature namesake format. 

In an analyst conference Thursday, the retailer unveiled plans to shrink square footage at big-box stores by 10% over the next three to five years, a move that Best Buy said will eventually save $70 million to $80 million annually.