News

Teen apparel retailer to unveil new store prototype
It’s no secret that Abercrombie & Fitch has been developing a new prototype. The chain will unveil its new look early next year, at Polaris Fashion Place, in Columbus, Ohio. The store will herald a new direction for the brand with a new aesthetic and updated merchandise selections. It will be situated on the lower level near Madewell. Abercrombie has already introduced a new look for its Hollister store brand.
Report: Bankrupt teen apparel chain in negotiations with Versa Capital
Aeropostale is negotiating a potential sale to private equity firm Versa Capital Management LLC, Reuters reported. Versa specializes in distressed investments. In court papers filed at the end of last week,the retailer said it has been in discussions with Versa regarding a possible stalking horse bid at the chain’s bankruptcy auction later this month. The bid by Versa could include a cash payment for Aéropostale’s inventory, and the assumption of more than 500

Gap not looking great

Gap Inc. unveiled preliminary results for the second quarter that were not very promising as Banana Republic continues to bleed. The retailer said revenue and same-store sales slipped for the month of July, and for the second quarter, which ended July 30. Gap’s net sales for the quarter were $3.85 billion, compared with $3.90 billion for the second quarter last year.
French lifestyle brand to raise U.S. profile with renovated stores, new locations

The brand known the world over for its iconic crocodile logo has a new retail strategy. In a move to enhance its brand in the United States, Lacoste is renovating high-profile locations and opening more impactful, larger-format retail stores in the its key U.S. markets, which include New York, south Florida and southern California.
Meijer launches Simply Give fall campaign

Meijer is kicking off the fall campaign of its signature hunger relief program, Simply Give, across its six-state footprint in an effort to help local food pantry partners restock their shelves.
South African-based retail giant enters U.S. with $3.8 billion acquisition

A company relatively unknown outside its home base has entered the U.S. retail market in a deal to acquire Mattress Firm Holding Corp., the largest mattress retailer in the United States.
Regency redevelops South Florida center

Regency Centers has demolished most of its Aventura Shopping Center in the South Florida town of the same name, and is underway with a near-total redevelopment. The Publix grocery anchor at the center south of Hollywood is the only structure that remains, though the 35,500-sq.-ft. space will be expanded to 49,000 sq. ft. with parking below the store.
Food Emporium raises hopes of New Jersey center

In 2013, when Plainsboro (New Jersey) Plaza lost its grocery anchor, prospects appeared bleak for the once-thriving center. A new town center concept erected across the street in this affluent locale bordering Princeton had siphoned off shoppers in a big way. According to a report in the Trenton Times, two-thirds of the Plaza emptied while Plainsboro Village Center was 96% leased.
Hhgregg makes executive moves

Hhgregg announced several key executive appointments. The news comes on the heels of the appointment of interim CEO Robert Riesbeck as permanent chief of the consumer electronics and appliance retailer. The moves include the promotion of former VP of marketing and nine-year company veteran Chris Sutton to senior VP of marketing, with oversight for all marketing initiatives as well as Hhgregg’s growing e-commerce channel. Sutton previously worked in advertising and brand marketing for The Walt Disney Company.
Wal-Mart buying Jet.com for $3 billion

Wal-Mart Stores announced it will acquire retail start-up — and would-be Amazon rival — Jet.com for approximately $3 billion in cash. Additionally, $300 million of Walmart shares will be paid over time as part of the transaction. The deal will go a long way to helping Walmart expand its e-commerce growth and customer reach, and also give it more firing power as it competes with Amazon. And Jet.com’s popularity with millennials will help the discounter attract a younger, higher-income customer.