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Rue21 profit rises 19% in Q4
Warrendale, Pa. -- Rue21 reported Wednesday that net income for the quarter ended Jan. 28 rose 18.7% to $12.9 million, from $10.9 million in the year-ago period.
Sales surged 15.7% to $219.9 million, but same-store sales dipped 2.2% following a 1.5% increase a year earlier.
During the quarter, Rue21 opened 17 new stores and closed two.
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Zara unveils new global concept store on Fifth Avenue
New York City -- Fashion retail Zara, an Inditex brand, on Thursday will officially open its largest U.S. store – on Fifth Avenue in Manhattan – designed with the latest advancements in sustainability.
The new store, in the Tishman Building (666 Fifth Avenue, at the intersection of 52nd Street), features a three-floor layout that reflects an innovative approach to interior design. The shop opens onto Fifth Avenue and 52nd Street with five display windows and a dramatic façade.