Direct To Consumer (DTC)

Topeka, Kan. -- Collective Brands, parent company to Payless ShoeSource and Stride Rite, said Tuesday it is planning to take its Stride Rite children’s shoe brand to mainland China next year.

According to Bloomberg, the company is teaming up with Li & Fung Retailing and will also open stores in Hong Kong, Malaysia and Singapore starting in December, according to Matthew Rubel, CEO of Collective Brands.

New York City -- Saks reported Tuesday that its net income rose to $36.3 million for the quarter ended Oct. 30, up from $6.3 million in the year-ago period. Third-quarter 2010 results were helped by a surge in luxury spending and a $26.7 million gain related to income tax reversals.

Revenues rose to $658.8 million for the quarter, compared with $631.4 million the prior year. Same-store sales increased 5.7%.

New York City -- Asking rents for retail spaces in New York City hot spots are rising in certain corridors, according to The Real Estate Board of New York’s (REBNY) Fall 2010 Retail Report.

According to the report, since spring 2010, retail asking rents climbed 21% to $1700 per square foot in the Times Square corridor defined by Broadway and 7th Avenue between 42nd and 47th Streets.

New Albany, Ohio -- Abercrombie & Fitch Co. on Tuesday reported a profit of $50 million for the quarter ended Oct. 30, compared with $38.8 million in the year-ago period. Its results were helped by improving sales in the United States and international revenue.

Sales rose 18% to $886 million, matching Wall Street expectations. Same-store sales increased 7%. By division, same-store sales rose 8% at namesake stores, 2% at Abercrombie kids stores and 7% at surf-themed Hollister stores.

Philadelphia -- Urban Outfitters recorded earnings of $73.1 million for the quarter ended Oct. 31, a 17% hike over the $62.4 million recorded in the prior year period, helped by higher sales and improved growth in comparable store net sales. Quarterly earnings were ahead of the analysts' expectations, while sales came in short of the consensus.

Revenue rose 13.4% to $573.6 million, missing Wall Street estimates of $580 million.

Plano, Texas -- J.C. Penney announced that its new Foundry Big & Tall Supply Co. division will launch a new retail concept catering to the men’s big-and-tall customer. With plans to open 300 stores -- as well as an e-commerce website -- over the next five years, The Foundry Big & Tall Supply Co. will carry an extensive assortment of national men’s brands along with The Foundry Supply Co. private brand merchandise, offering an upscale, one-stop-shop for the big-and-tall customer, J.C. Penney reported.