News
« July 2006 | | September 2006 »
August 30, 2006
Nordstrom To Move Into Phoenix
Nordstrom will anchor Phoenix’s new CityNorth development. The 144,000-square foot store is slated to open in fall 2009 and will be the first Nordstrom to open in Phoenix.
The CityNorth project will include 5.5 million square feet of retail, residential, restaurant and office space.
The $1.2 billion development is aimed at boosting the city’s commercial and shopping appeal.
Posted by Blacks at 10:08 AM | Comments (0)
August 29, 2006
Consumer Confidence Dips In August
Consumer confidence took a dive in August on concerns over the economy and the employment environment.
The Conference Board’s index of consumer confidence fell to 99.6 during the month, from 107.0 in July.
The slump in the housing market, high energy prices and inflation fears are also being blamed for the atmosphere of uncertainty.
Posted by Blacks at 09:35 AM | Comments (0)
August 28, 2006
True Religion Snags Levi's Designer
True Religion has named former Levi Strauss & Co. designer Zihaad Wells as its new Design Director.
Wells, who is just 31, is known for his innovation and ability to stay on top of emerging trends. His appointment comes at a time when the premium denim brand is growing rapidly.
True Religion reported a nearly 16% jump in earnings for the second quarter of 2006, bringing in $4.9 million.
Posted by Blacks at 09:03 AM | Comments (0)
August 25, 2006
Nilsson Leaves Nina Ricci
Nina Ricci designer Lars Nilsson has left the company to pursue other opportunities.
Insiders speculate that former Rochas designer Olivier Theyskens could be tapped to take his place. Theyskens, who was recently named International Designer of the Year by the Council of Fashion Designers of America, found himself suddenly out of a job last month when Rochas folded.
Nina Ricci will not be showing at Paris fashion week in the wake of Nilsson’s exit, but will hold private showings of its spring/summer ’07 collection to buyers and press, according to reports.
Posted by Blacks at 10:24 AM | Comments (0)
August 24, 2006
Kohl's Woos Wang In Multiyear Deal
Vera Wang has agreed to design a fashion and lifestyle collection for Kohl’s called “Very Vera by Vera Wang.”
The multiyear deal includes women’s apparel, intimate apparel, accessories, footwear, jewelry and linens. Kohl’s will begin carrying the brand online and in its over 900 department stores at the beginning of next year.
Wang is just the latest in a string of high-end designers who have been wooed by mid-tier retailers who want to gain more pulling power by offering fashion lines.
The partnership could generate up to $500 million over the next few years, according to some reports.
Posted by Blacks at 09:57 AM | Comments (0)
August 23, 2006
Brooks Brothers Predicts Sales Boom
Brooks Brothers is predicting $1 billion in sales over the next two years, according to DNR.
The U.S. men’s clothier is riding high after a change in direction that took it back to its traditional, tailored look.
The label has been gaining steam under the ownership of Retail Brand Alliance, led by Italian billionaire Claudio Del Vecchio.
Del Vecchio was always a fan of Brooks Brothers’ classical styling and was dismayed when the label moved into contemporary sportswear in the 1990s. Now that he has returned the company to its roots, the effort appears to be paying off.
Posted by Blacks at 12:39 PM | Comments (0)
August 22, 2006
Saks President Steps Down
Saks Fifth Avenue President Andrew Jennings has resigned, leaving company CEO Steve Sadove to assume his responsibilities.
Jennings gave no reason for his departure, other than he wanted to return overseas where he spent a majority of his career. Saks has no plans to replace Jennings.
Saks Vice Chairman and Chief Merchant Ron Frasch could get a career boost in the wake of the management shakeup, according to industry insiders.
Posted by Blacks at 09:09 AM | Comments (0)
August 21, 2006
New Max Azria Stores Showcase Designer Line
BCBG’s Max Azria is putting the spotlight on his self-named designer collection by opening five new freestanding stores to carry the line.
Azria designs BCBG’s contemporary line and said he wants to make a clearer distinction between that collection and his upscale designer looks.
The first Max Azria store opened in L.A. last week, and additional stores are planned for New York’s SoHo, Newport Beach, Ca., Palm Beach, Fla., Paris, and possibly Dallas. The new L.A. store, on Melrose Avenue, features the designer’s resort collection.
Posted by Blacks at 10:01 AM | Comments (0)
August 18, 2006
Nordstrom Reports Strong Q2
Nordstrom’s net income jumped 20% in the second quarter, thanks to a boost from its summer clearances and July anniversary sale.
The better chain reported income of nearly $179 million for the quarter ended July 31, on sales of $2.3 billion.
Men’s apparel, accessories and cosmetics performed particularly well, according to the retailer.
The second quarter results bode well for fall sales and should lead to rosy full-year results, it added.
Posted by Blacks at 09:50 AM | Comments (0)
August 17, 2006
Retail Apparel Prices Drop
Retail apparel prices dipped 1.2% in July as inflation slowed. Women’s apparel took the biggest hit, falling a seasonally adjusted 1.9%.
The July numbers represented the steepest decline in retail apparel prices in eight years.
The U.S. core inflation rate, which excludes energy and food, rose just 0.2% in July, setting the stage for lower prices.
Posted by Blacks at 09:47 AM | Comments (0)
August 16, 2006
Saks Reports Q2 Loss Of $52 Million
Saks Inc. reported a second quarter net loss of nearly $52 million, after taking a series of special charges.
The company’s Saks Fifth Avenue chain narrowed its operating loss for the quarter ended June 29 to $33.3 million, from $42.8 million a year ago, as comps rose 3.4%.
Margins at SFA remained flat, however, as the chain struggled to squeeze out higher profits.
Posted by Blacks at 11:18 AM | Comments (0)
August 15, 2006
Report: Jones Apparel Ends Auction
Jones Apparel Group is taking itself off the block after failing to find a buyer who would meet its price, according to a report out Tuesday.
The retail mammoth, which owns Barneys New York, Nine West and a host of other brands, was reportedly seeking over $35 a share.
However, department store consolidation and mid-market price pressures have taken their toll on Jones, causing profits to drop.
Without an attractive buyer in the wings, Jones is left to shore up its business, perhaps through the acquisition of additional better clothing lines.
Posted by Blacks at 09:38 AM | Comments (0)
August 14, 2006
Specialty Store Sales Continue To Climb
Specialty stores fared better than department stores in July, pointing to continued strength in more personalized luxury shopping.
Sales of apparel and accessories increased 0.7% over the June figure, to $17.9 billion. The July results represented a 7.6% increase from a year ago.
Meanwhile, department store sales dipped 0.4% from the previous month, and 1.1% lower than the same period last year.
Posted by Blacks at 09:27 AM | Comments (0)
August 11, 2006
Badgley Mischka Moves Into Sportswear
Badgley Mischka will be debuting its first bridge sportswear collection next month, targeting the professional urban customer.
The brand may be known for its dresses, but designers Mark Badgley and James Mischka have experience in the sportswear realm and aim to expand the label into a lifestyle brand.
Their 25-piece collection includes pants, skirts, knits, jackets and denim and will be available in some 300 stores, including Saks and Neiman Marcus.
Posted by Blacks at 10:04 AM | Comments (0)
August 10, 2006
Federated On Track After Solid Q2
Federated Department Stores outperformed expectations in the second quarter, thanks to strong same-store sales and a hefty IRS tax refund.
The retail giant reported sales of $6 billion for the quarter ended July 29, compared to sales of $3.6 billion for the year-ago period. Federated purchased May Department Stores last year, giving it a big boost in sales volume.
Net income for the quarter came in at $317 million compared to $148 million last year, while same-store sales rose 4.6%.
Federated said it was pleased with the results, as they signaled that the May stores integration was on track.
Posted by Blacks at 09:16 AM | Comments (0)
August 09, 2006
Seven Fills Vacant CEO Position
Seven For All Mankind has named former VF Corp. president Michael Egeck to fill its vacant CEO position.
At VF, Egeck was in charge of the company’s outdoor business, overseeing the Vans, Eastpak and JanSport brands, among others.
His appointment at Seven is aimed at solidifying the company’s position as a leading denim brand. Seven’s previous CEO, Andreas Kurz, left the company several months ago, after just one year on the job.
Egeck will assume his new position on Aug. 15, and will report to the company’s board.
Posted by Blacks at 08:40 AM | Comments (0)
August 08, 2006
Longchamp Debuts RTW Line
Handbag maker Longchamp has created a 10 piece ready-to-wear line which is already on sale at its New York SoHo store and will debut in France next month.
The fall line includes coats, sweaters and a dress made of two Longchamp scarves. The pieces are designed to complement the company’s handbags, with chic styling and familiar details.
For spring ’07, the line and its distribution will be expanded. Shoes will be added in the fall of next year.
Posted by Blacks at 10:36 AM | Comments (0)
Polo's Q1 Revenue Rockets 27%
Polo Ralph Lauren increased its first-quarter revenue by nearly 27% to $954 million, citing strong sales across the board.
Income for the quarter ended July 1 skyrocketed 58% to $80 million.
Sales of high-end apparel, including Ralph Lauren Purple Label, helped boost results. The company’s home goods also performed well, leading it to raise its full-year expectations.
Posted by Blacks at 09:48 AM | Comments (0)
August 07, 2006
Ralph Lauren Takes Window Shopping Literally
Ralph Lauren is taking window shopping to a whole new level by allowing shoppers to purchase items through a touch-screen image projected on the window of it’s Madison Avenue store.
Consumers interested in the latest Ralph Lauren Sport apparel, including U.S. Open merchandise, can simply select the items using touch technology and then insert their credit cards into a reader attached to the window. Alternatively, shoppers can elect to have their orders sent to their email account so they can complete the purchases online at home.
While the technology is certainly innovative, it will be interesting to see how many window shoppers purchase apparel in this manner. Whether or not the technology rings up sales, it’s certainly a great way to get shoppers to take pause at the store window.
Posted by Blacks at 10:54 AM | Comments (0)
August 04, 2006
True Religion Adds Believers In Q2
True Religion’s second-quarter earnings jumped 15.7% to $4.9 million, indicating continued strength in the premium denim market.
Sales jumped nearly 40% in the quarter ended June 30 as the brand banked on broad department store distribution.
Looking ahead, the Los Angeles-based company is planning to buildout its non-denim products, adding shirts, outerwear and jewelry, and will open new standalone and outlet stores. One new store is planned for New York’s SoHo, while another will open in Miami’s South Beach.
Posted by Blacks at 10:06 AM | Comments (0)
August 03, 2006
For Better Retailers, Sales Sizzle In July
High-end retailers pulled off moderate gains in July, despite a heat wave that kept many shoppers indoors.
Federated Department Stores posted a 3.3% increase in same store sales, while Nordstrom reported a 5.3% gain. Federated expects similar results in August, predicting an increase of between 3% and 4%.
Mass-market mall denizens, such as Gap, Old Navy and Banana Republic, continued to post lackluster results, reporting a 4% drop in same store sales.
Posted by Blacks at 09:08 AM | Comments (0)
August 02, 2006
Belk Buys Parisian From Saks
Saks sold its 38-store Parisian chain to Belk for $285 million in stock as part of continued efforts to shed its non-core businesses.
Saks also sold its Proffitt's and McRae's divisions to Belk last year. The Birmingham-based company will now focus on its Saks Fifth Avenue, Club Libby Lu and Saks Off Fifth stores.
Belk, based in Charlotte, N.C., said it plans to turn the chain into Belk stores over the next 18 months, further strengthening its position in the South.
Posted by Blacks at 09:34 AM | Comments (0)
August 01, 2006
Lanvin Brings Its New Look To Spain
Luxe label Lanvin is adjusting its retail concept by introducing spaces that are warm and intimate, yet industrial. The French firm just opened a new store in Marbella, Spain, featuring old-world elegance with a modern interior.
It will close its Paris flagship for renovations later this year, with plans to open it next spring with a fresh look.
Lanvin currently has 23 boutiques worldwide.
Posted by Blacks at 09:10 AM | Comments (0)