News

NEW YORK — Ralph Lauren Corporation weathered an uneven global operating environment with resilience, resulting in better-than-expected first quarter retail sales for fiscal 2014, which increased 3% to $879 million from $857 million in the first quarter last year. 

By Adam Siegel, VP sustainability and retail operations, Retail Industry Leaders Association [email protected]

IRVING, Texas — The relationship between retailers and their suppliers are of paramount importance, and Michaels Stores marks that relationship every year at its annual partner conference, where the company recognizes its top partners at its Vendor and Supply Chain Partner of the Year Awards.

Michaels recognized the contributions of 12 vendor and supply chain partners to the retailer during the past year.

Specialty retailer Five Below is searching for a seasoned retail executive to fill the role of president to execute an aggressive growth strategy following the departure of chief operating officer David Johnston.

Boca Raton, Fla. – Office Depot sent its shareholders a letter this morning urging them to vote for its 10 nominees for the board of directors at its annual shareholders meeting on Aug. 21. The letter says that nominees from activist investor Starboard Value LP could disrupt progress and momentum in the ongoing OfficeMax merger and also prevent future synergies from the merger as well as make excessive cuts in critical business functions.

Officer Depot sent a similar letter to its shareholders on July 29.

Affluent shoppers feeling better about their personal balance sheets helped global luxury brand Tumi grow total sales by 12.9%, same store sales by 4.6% and double profits in the second quarter ended June 24.

Best known for its expensive luggage, Tumi said sales total $108.2 million during the period and profits increased to $11.2 million, or 16 cents a share, compared to profits of $6.5 million, or 10 cents a share in the same period the prior year.

Philadelphia - David Johnston, COO of Five Below, Inc., will leave his position at the company effective Aug. 31. In the wake of his departure, the company is seeking a president who will report directly to co-founder and CEO Thomas Vellios.

NEW YORK — Jordache has chosen supermodel, designer, entrepreneur and host of television’s Project Runway and America's Got Talent, Heidi Klum, as the face of its latest ad campaign.  

Shot by photographer, director and longtime Klum collaborator, Rankin in Los Angeles, the commercial casts Klum as a pied piper who leads a suburban cast and a not so suburban cast to the beat of Bee Gees Stayin' Alive.