Mass Merchant

Breaking the cycle of promotional ridiculousness at Jos. A. Bank is proving to be a far worse drag on sales and profits than parent company Men’s Wearhouse expected.

Men’s Wearhouse revealed the cost of breaking the promotional cycle at the acquired Jos. A. Bank stores on Nov. 6 when CEO Doug Ewert announced a huge downward revision to the combined company’s third quarter and full-year sales and profit outlook.

HHgregg 's CEO says the company is on track to meet key financial objectives even though it posted negative same-store sales growth and a larger loss in the second quarter.

Dunbar Commercial, a Henderson, Nevada-based commercial real estate brokerage firm, has secured a 10-year lease on behalf of Victoria’s Secret. Dunbar Commercial principal Bill Dunbar made the announcement.

The 7,852-sq.-ft. Victoria’s Secret opened Oct. 23 at The District at Green Valley Ranch in Henderson. Dunbar Commercial represented both the tenant and landlord in the transaction.

Another larger-than-life retail showcase is coming to the Big Apple.

Victoria’s Secret plans to open a 64,000-sq.-ft. store on the corner of Fifth Avenue and 51st Street. The space was formerly occupied by Forever 21, which moved out after just seven months of operation.

“It’s a very big deal from a brand standpoint,” Stuart Burgdoefer, CFO, L Brands, parent of Victoria’s Secret, said at the company’s annual investor conference.

October was a good month for Costco, which reported growth in same-store and total sales.

The club retailer posted a 4% increase in U.S. same-store sales for October, excluding gasoline price deflation and currency fluctuation. sThe comp increase was 5% for the whole company.

For the month, the company saw $8.78 billion in net sales and $19.53 billion over the four weeks. Though Costco’s U.S. sales saw a slight increase, its Canadian stores saw an 8% decrease in same-store sales for the month and a 9% decline over four weeks.

Over the past 15 years or so, fast-fashion has evolved from a trend to a phenomenon to an industry standard, one that has largely redefined the U.S. apparel retailing landscape.

From home-grown Forever 21 to Swedish import H&M, the market is awash in stores offering cheap, on-trend clothes at low prices. Most recently another import entered the mix, Primark, which opened its first U.S. store in September, in Boston, the first of eight announced locations.

Office Depot and Best Buy are intense competitors in many categories, but that didn’t stop the former from recognizing the latter’s sustainable purchasing practices.

Office Depot recently held its Eighth Annual Leadership in Greener Purchasing Awards ceremony in Denver alongside the International Facilities Management Association (IFMA) World Workplace Conference & Expo.

Saks Fifth Avenue Off 5th will open a store at Newcity, the newly opened mixed-use development located in Chicago’s Lincoln Park neighborhood.

The 40,000-sq.-ft. store, which will be the seventh Off 5th location in Chicago, is scheduled to open in May 2016. The off-price retailer recently announced another spring 2016 store opening in Chicago, on State Street at the corner of State and Madison.