eCommerce

The retail industry lost one of its legends this week when Eugene Ferkauf, founder of the E.J. Korvette chain of stores passed away at his Manhattan home.

Before Sam Walton or Harry Cunningham opened their first discount stores 50 years ago, Ferkauf established the principles of discount retailing with his stores in the New York area. The first Korvette’s store opening in 1948 and at its peak the company operated 45 stores.

New York -- Kate Spade New York announced Thursday that it will buy its Japanese JV partner Sanei International’s 51% share in Kate Spade Japan.

The move, said Kate Spade, is part of an aggressive international push that includes recent store openings in the United Kingdom, Dubai and Kuwait, as well as further expansion into Brazil with additional store openings in Rio de Janeiro and Sao Paulo planned for this summer.

HOUSTON — The Men’s Wearhouse raised prices to preserve margins in the face of weak first quarter demand, but it wasn’t enough to prevent profits from falling short of estimates.

The company reported first quarter earnings per share of 52 cents, below guidance of 53 cents to 54 cents a share provided when the company reported fourth quarter results on March 7. Analysts’ expected the company to earn 55 cents a share.

Fort Worth, Texas -- A Thursday report by Reuters said that RadioShack will take a 49% stake in a joint venture with Cybermart to open small-format, RadioShack-branded stores in greater China.

Cybermart, an affiliate of Hon Hai Precision Industry Co., and RadioShack will open their first location in Shanghai in July. Additional locations are planned for mainland China, as well as Taiwan, Hong Kong and Macau.

Pittsburgh -- American Eagle Outfitters and Shopkick, the largest location-based shopping app that rewards shoppers simply for walking into stores, announced the national rollout of Shopkick to all American Eagle Outfitters and Aerie stores across the country. Customers will earn "kicks" (points) just for walking in, as well as receive a number of other exciting, exclusive offers throughout the stores.

News reports this week speculated Denver might be getting a new CityTarget store. Get used to seeing similar speculation in other major markets as the company seeks to tap a new growth frontier.

New York -- Claire’s Stores Inc. has named James D. Fielding, former president of Disney Stores Worldwide, as CEO, effective June 18, 2012. Fielding, who resigned from Disney on Monday, will also join Claire’s board of directors.

“I look forward to capitalizing on the many growth initiatives available to the company, including new stores, development of the Icing concept, continued international expansion in markets such as Mexico, India and China, and optimization of e-commerce,” Fielding said in a statement.

NEW YORK — Kenneth Cole, chairman and chief creative officer of Kenneth Cole Productions will now be the holder of approximately 46% of the company's common stock and will have 89% of the voting power. The deal was made possible through an agreement between Kenneth Cole Productions and Cole's controlling entity KCP Holdco.