News

Jacksonville, Fla. – Stein Mart reported year-over-year increases in total and same-store sales during the second quarter of fiscal 2013. Total sales grew 3.8% to $74.6 million from $70.5 million, while same-store sales increased 6.4%, compared to same-store sales growth of only 1.6% during the second quarter of the previous year.

Walmart has fended off the best efforts of organized labor for decades, but it appears likely the company will need to elevate its game after several major unions joined forces this week.

A spectacular mixed-use development will soon break ground in Gainesville, Fla. — at the intersection of I-75 and Archer Road. When complete, Celebration Pointe will run more than a half-mile along I-75, the heart of Gainesville’s most successful retail corridor.

The project’s specs are awesome: 125 acres, 1 million sq. ft., 300,000 sq. ft. of upper-moderate and specialty retail, a huge restaurant and entertainment component, Class A office space, nearly 1,000 multifamily residential units, a branded hotel.

NEW YORK — Ralph Lauren Corporation has elected David Lauren, the company’s EVP of advertising, marketing and corporate communications, to its board of directors. His election brings the number of directors on the company’s board to 13.

Woonsocket, R.I. - Accordant Health Services, a subsidiary of CVS Caremark, has launched an updated website and member portal, which provides new features and services for program members and is designed to help support and improve member engagement and participation for clients.

Accordant.com now provides eligible members with online access to educational materials, videos, communication tools and community resources that encompass 17 conditions such as rheumatoid arthritis, multiple sclerosis, Crohn's disease and sickle cell disease.

ECRM compared retail circular advertising in July 2012 versus July 2013 and noted trends occurring across top retail chains. Walmart continues to see large increase in page count year-over-year, alongside Fred Meyer and Lowe’s this month. In contrast to Lowe’s, Home Depot saw a 44% drop in page count versus last year.

New York – As a result of slumping net and same-store sales, Aeropostale is forecasting a net loss per share of between 42 cents and 44 cents during the second fiscal quarter of this year, which is 19 cents higher than the previously issued guidance. The revised estimate is based on a 6% decrease in net sales to $454 million, from $485.3 million in the year ago period.

By Ted Vaughan, [email protected]

The year 2012 was the best year for retail IPOs since 2002 — S&P Capital IQ reported seven offerings for the year — and when we released our 2013 IPO Outlook Study earlier this year, 30% of capital markets executives expected initial public offerings (IPOs) in the retail and consumer products space to continue to grow in 2013. Now that we’re well into the second half of the year, how have those expectations fared?