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  • Saks Fifth Avenue store in Tampa, Fla., to close

    New York -- Saks Inc. says it plans to close its Saks Fifth Avenue store in WestShore Plaza in Tampa, Fla., on May 4.

    Steve Sadove, chairman and CEO of Saks, commented: “This planned closing is in line with our strategy of using our resources in our most productive Saks Fifth Avenue stores. We regularly assess the productivity, profitability, and potential of each of our stores and may determine that a closing is appropriate from time to time.”

  • Express offers ‘parity pricing’ for Canadian customers

    Toronto -- Express Inc. announced that its move to parity pricing is now complete. The retailer said it has been working to make cross-border shopping a thing of the past since entering the Canadian market.
     
    The company's at-par pricing ensures that consumers across North America can enjoy the same shopping experience and value, regardless of geographical location.

    Online shoppers can also take advantage of the parities, including an $8 shipping fee, as well as free shipping on all orders over $125.

     

  • Coach tops estimates; Reed Krakoff to step down

    New York -- Coach on Tuesday reported that its net income for three-month period ending on March 30 rose 6.2% to $238.9 million amid strong sales in North America, beating analysts’ expectations. The company also disclosed that its longtime president and executive creative director, Reed Krakoff, will step down when his contract expires next year in order to focus on his own namesake brand, which is owned by Coach. Coach said it is already looking for a successor.

  • NRF applauds Senate vote on Marketplace Fairness Act

    New York -- The National Retail Federation applauded a Senate vote to proceed with debate on S.743, an act to level the sales tax field for online and brick-and-mortar stores.

    NRF president and CEO Matthew Shay issued the following statement: “NRF applauds today’s Senate vote on the Marketplace Fairness Act and we commend Senators Enzi, Durbin, Alexander and Heitkamp for their skilled leadership in moving this legislation ahead.”


  • Simon and Mitsubishi Estate open Shisui Premium Outlets in Japan

    Indianapolis -- Simon Property Group announced today that, in partnership with Mitsubishi Estate Co., Ltd., it has opened Shisui Premium Outlets (Shisui Town, Inba District, Chiba Prefecture), the ninth Premium Outlet Center in Japan.

  • Canada’s Holt Renfrew expanding and remodeling chain

    Toronto -- Holt Renfrew will open a flagship store in spring 2016 at Square One Shopping Centre in Mississauga. The store, planned at approximately 120,000 sq.-ft., is part of the company's aggressive growth plan, which will result in a 40% expansion of the total square footage of Holt Renfrew's network.

    In addition to the new Square One site, a number of Holt Renfrew stores will be renovated and expanded, with some completely rebuilt.

  • Restoration Hardware swings to loss in Q4, but edges forecasts

    Corte Madera, Calif. -- Restoration Hardware Holdings Inc. reported Friday a loss of $28.4 million for the quarter ended Feb. 2, compared with a profit of $24 million in the year-ago period. Results, impacted by costs associated with the company’s November 2012 IPO, edged analysts’ expectations.

    Revenue surged 30% to $398.1 million from $305.2 million last year, beating Wall Street’s forecast of $390.5 million. Same-store sales advanced a hefty 26%.

  • Francesca's names PetSmart, Spanx execs to board

    Houston -- Francesca's Holdings Corp. said Friday it has appointed Laurie Ann Goldman and Joseph O'Leary to its board of directors, effective April 17.

    Goldman is CEO of shapewear brand Spanx. Earlier in her career, she held marketing positions at R.H. Macy and Maison Blanche Stores.    

    O'Leary is EVP merchandising, marketing, supply chain and strategic planning for PetSmart.

     

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