eCommerce

Minneapolis -- Christopher & Banks Corp. has rejected Aria Partners’ unsolicited $64 million takeover offer, saying it was not in the best interest of stockholders. The private equity firm owns 4% of Christopher & Banks shares. The retailer also adopted a stockholder rights plan, or poison pill, with a trigger at 15%

Private equity firm Aria owns 4% of Christopher & Banks shares.

YONKERS, N.Y. — Retailers that cater to lower-income and higher-income consumers should be pleased with the most recent Consumer Reports Index, as those two groups showed the greatest improvement in consumer sentiment.

The Consumer Reports Index, an overall measure of Americans' personal financial health, saw a sharp improvement in its consumer sentiment measure, which jumped to its highest level since October 2008.

New York -- Ikea has been rebuffed by India on a request to relax rules on buying goods locally, Reuters reported, citing a government source. The rebuff is likely to delay Ikea’s entry into the Indian retail market.

In June, Ikea said it would invest approximately $1.86 billion and open 25 stores in India. But the chain was seeking a 10-year window to comply with India’s rule that foreign retailers source 30% from local small and medium-sized firms. The requirement is seen by overseas companies as a hindrance to investment.

The rhetoric over allowing foreign direct investment in India is reminiscent of the rhetoric that would have occurred in the United States 30 years ago had Walmart’s critics knew then what they profess to know now.

Not too long ago, I interviewed Christy Parra, who is the logistics director for The Container Store. The interview was for an article on the company’s deployment of a voice-directed picking system in its distribution center. But what struck me throughout our discussion was the context in which Parra framed the new technology: It had as much to do with the employees as it did efficiencies and cost savings.

It may be back to basics in Walmart’s apparel department, but shoppers still crave discounted brands and fashion as evidenced by continued strength at some familiar retailers.

TJX and Ross Stores both posted same-store sales increases of 7% during June, and both companies used the occasion of the better-than-expected results to elevate their profits forecasts. TJX said June sales increase 9% to $2.3 billion, while Ross said its June sales increased 12% to $886 million.

New York -- As discounters such as Target, Stein Mart and warehouse club operator Costco posted disappointing same-store sales results in June, TJX Cos. and Ross Stores shone with gains that surpassed Wall Street estimates. TJX saw a same-store sales rise of 7% in June, beating the 4.2% rise predicted by analysts. Ross was up 7% for the month, after Wall Street forecast a 4.8% increase. Sales rose 12% to $886 million in June. Both chains raised their second-quarter profit forecasts.

Fort Worth, Texas -- Dallas-based Cypress Equities said that drycleaner The Laundry will open at the mixed-use development West 7th, located in Fort Worth, Texas.

The 963-sq.-ft. shop is slated to open later this year.

West 7th’s retail and office components are being developed by a Cypress Equities company and the residential component by Columbus Realty Partners.