News

Loss widens at Destination Maternity
Destination Maternity Corp. saw its loss widen in the fourth quarter and the full year amid declining same-store sales and its exit from several businesses. The maternity clothing retailer reported a loss $32.8 million, which included a $27.8 million non-cash income tax charge. Its adjusted net loss was $3.2 million, compared to an adjusted net loss of $1.5 million in the year-ago period. Revenue totaled $100.2 million in the period. Same-store sales fell 7.8%.
Search engine giant steps up fashion searches
Google hopes its new visual search tools will become a new accessory for its fashion shoppers. To assist customers eager to buy merchandise featured in online lifestyle images, Google introduced two new mobile image-based search tools this week that will help customers locate their desired pieces more easily.

First Look: Under Armour, Detroit

Under Armour has brought its experiential “brand house” store concept to downtown Detroit. The three-floor, 17,000-sq.-ft. space reflects the company’s roots in Baltimore and also pays homage to the history and spirit of Detroit. The design uses athlete imagery and product installations to convey an immersive brand experience and inspire customers.
Toy retailer reports ‘disappointing’ year

Toys “R” Us reported declines in same-store sales for its fourth quarter and full year amid a highly competitive environment.
Vermont mall project back on track with Rouse involvement

Rouse properties has announced plans to enter into a joint venture agreement with Devonwood Investors in the transformation of an outdated Burlington, Vermont, mall into a mixed-use center. The deal is expected to be closed in the coming weeks. Burlington Town Center, a traditional enclosed mall in the center of the state’s largest city, is to be converted into a modern apartment block including restaurants and an upgraded retail component.
Retailer takes home delivery into a new state

Meijer is putting its home delivery expansion plan into motion. Meijer is preparing to launch its home delivery service throughout Ohio. The service will launch in Cincinnati and Dayton on April 27; Columbus on May 4; and Toledo later this summer.
Amazon CEO reflects on future in annual letter to shareholders

Amazon Jeff Bezos is certainly not sitting back and relaxing in his company’s success. As his annual letter to shareholders reveals, Bezos is spending a lot of time thinking how his company can remain vibrant and successful. The letter repeats a theme that the executive brought up in his letter last year: how to keep alive the animal spirits that led Amazon to greatness, reported the Seattle Times.
Report: Beauty retailer attracts suitors

An array of private equity firms are interested in The Body Shop. The beauty retailer, which is owned by cosmetics giant L’Oreal, has drawn bids from around 15 private equity firms and companies, including Bain Capital, CVC Capital Partners, Carlyle Group LP and South Korea’s CJ Group, Bloomberg reported.
Fast-growing teen value retailer enters California

Five Below is making its West Coast debut. The retailer will open stores on Friday, April 21, in Aliso Viejo, Anaheim, Compton, Hawthorne, Montebello, Fontana, Rancho Cucamonga, South Gate and Redlands. The stores mark the company’s first West Coast locations, bringing its reach to approximately 550 stores in 32 states.
Fast-fashion retailer expanding further into Canada

Uniqlo is set to open its third location in Canada. The Japanese retail giant will open a two-level, 20,630-sq. ft. store at Metropolis at Metrotown, Burnaby, this fall. It will be Uniqlo’s first location in British Columbia, with the retailer’s other two Canadian stores in Toronto.