eCommerce

A steep profit decline and deteriorating sales at two of Gap Inc.’s three flagship formats in the third quarter have CEO Art Peck looking ahead to what he expects to be better times.

Martha Stewart has taken her American Made store out of eBay and announced a new partnership with Amazon.com.

Nordstrom is adding some financial expertise to its board with its latest appointment.

The Seattle-based retailer has appointed Gordon Smith, CEO of Consumer and Community Banking at JPMorgan Chase, to the company's board of directors. The addition of Smith brings the total number of directors to 15 and the number of independent directors to 12. Nordstrom directors serve one-year terms and the company requires annual elections of all Board members. Smith will join the Compensation and Corporate Governance and Nominating Committees.

Ollie's Bargain Outlet Holdings Inc. is looking to a Sports Authority executive to fill the newly created position of senior VP of finance and chief accounting officer.

The company has named Jay Stasz to the position, which will report to John Swygert, Ollie's executive VP and CFO.

When it comes to retail rents, Manhattan’s Fifth Avenue is really in a class by itself.

Upper Fifth Avenue, between 49th and 60th streets, is the most expensive retail corridor in the world, with rents rising 3.6% to $3,500 per square foot through the first half of this year, according to an annual report from Cushman & Wakefield. (The top 10 streets are listed at end of article.)

Fifth Avenue rent was nearly double that of the second priciest corridor, Causeway Bay in Hong Kong, at $2,399 per square foot.

Lululemon Athletica has opened its largest store yet, an 11,500-sq.-ft. flagship in Manhattan. The store includes such new features as a 3,000-sq.-ft. community gathering space, called Hub Seventeen, and concierge services, reports New York Business Journal. [New York Business Journal]

How busy is Times Square? Enough to support two Modell’s Sporting Goods stores.

The retailer is opening two new stores in the New York City metro area, including one at 136 West 42nd Street, its second Times Square location. Modell’s is also opening a store at Crossroads Plaza East in Rocky Point, New York.

The two new locations will expand the retailer’s portfolio to 155 stores in 10 states.

Saks Fifth Avenue is pulling out all the stops to make its two upcoming stores in Canada true destinations whose attractions extend beyond buying the latest fashions.

The company will open a163,000-sq.-ft. store at Toronto’s Eaton Centre at Queen Street on February 18, 2016, and a 150,000-sq.-ft. location at Sherway Gardens, also in Toronto, on February 25, 2016.

Retailers are advised to brace for a higher level of fraud online and across all channels this holiday season.

That’s according to ACI Worldwide, which based its recommendation on new benchmark data from millions of transactions from large global retailers. The company noted that fraud rates by volume have increased by 30%, compared to 2014 as consumers shop with more devices online and card issuers are slower to shut down accounts after fraudulent activity.

The off-price space is growing by leaps and bounds, with yet another department store retailer throwing its hat in the ring.

Lord & Taylor will debut its new off-price concept, Find @ Lord & Taylor, on Nov. 19, in Paramus, New Jersey. The 30,000-sq.-ft. store will feature women’s, men’s, kids’ clothing and footwear, along with home goods. According to reports, the initial store will be followed by six additional locations next year.