News
May 12, 2008
Bloomingdale's Cuts Catalog To Focus On Web
In a sign of the times, Bloomindale’s is discontinuing its catalog business to concentrate on its Website.
The retailer is stopping its catalog sales early next year and at the same time is working to improve the e-commerce capabilities of its Website. Bloomindale’s By Mail normally produces 40 catalogues a year, requiring a large marketing and production team, but online sales have far outreached catalog sales.
Bloomingdale’s owner Macy’s says that it expects direct-to-consumer sales, including both entities Websites, to reach over $1 billion in 2008.
Posted by Blacks on 09:25 AM | Comments (0)
April 30, 2008
L&T Revamps Stores, Considers New Markets
Lord & Taylor has laid out plan to expand into new categories and markets. The retailer is hoping to convert 100,000 square feet of its New York flag ship into a home furnishings department featuring Fortunoff home shops and jewelry. It’s also opening 47 Fortunoff jewelry departments in its stores in February.
At the same time, L&T is looking for ways to expand abroad, and is said to be considering a licensing model. While no deals are in the works yet, the company said that several groups have shown interest in partnering in international markets.
Posted by Blacks on 08:26 AM | Comments (0)
April 24, 2008
Joe's Jeans Steps Into Retail With Chicago Store
Joe’s Jeans is venturing into retail with the opening of its first branded store in Chicago. The almost 1,900-square foot space, due to open in August, will showcase Joe’s premium denim line and complementary collection pieces.
The company is planning to open 50 new doors in the next five years, saying that margins in retail are higher than in wholesale. Even with lower margins, Joe’s managed to report a 75% sales increase for 2007 to $63 million.
Posted by Blacks on 09:30 AM | Comments (0)
April 22, 2008
Bergdorf NY Opens Balenciaga Shop
Bergdorf Goodman has opened a Balenciaga boutique in its Fifth Avenue store, offering ready-to-wear, handbags, jewelry and accessories. The 720-square foot space is Balenciaga’s first shop-in-shop in the U.S. It sits next to Bergdorf’s Prada store and features French furnishings in a deco theme.
The Balenciaga pieces start at $225 and reach almost $16,000 for an exclusive gown. Bergdorf said that Balenciaga’s Nicolas Ghesquière is one of the most influential designers today and it is pleased to offer his work.
Posted by Blacks on 09:56 AM | Comments (0)
April 14, 2008
Mountain Hardware Opens Brick & Mortar Store
Columbia Sportswear’s Mountain Hardware Website is expanding offline with its first retail store. The outdoor company opened a 3,000-foot store in Portland, Ore., earlier this month, featuring equipment, apparel and footwear in a rustic setting.
The store also contains computer kiosks where customers can look up outdoor clubs and nonprofits.
In addition, 10% of all sales in April will go to Multnomah County’s Friends of Outdoor School, providing outdoor education to sixth graders.
Posted by Blacks on 09:52 AM | Comments (0)
April 10, 2008
Bluefly Launches Boutique Fashion Site
Fashion Website Bluefly.com is expanding into the boutique business with the launch of b*fly.com. The new site will feature contemporary styles geared toward a younger audience, such as denim, casual dresses and graphic tees.
Bluefly made its mark by selling designer clothes at discounted prices. It said that the new site is aimed at people who want to mix-and-match separates and don’t necessarily need to wear high-fashion goods.
Posted by Blacks on 09:05 AM | Comments (0)
April 08, 2008
NRF Predicts Boom In Online Apparel Sales
Although sales have slowed for brick-and-mortar retailers, online sales of apparel, footwear and accessories are expected to climb to $22.7 billion this year, according to National Retail Federation estimates.
In 2007, only 10% of the sales in these categories were done online but that figure is expected to reach 12% this year, presenting a distinct opportunity for apparel and accessories retailers.
Total online sales are projected at $204 billion this year, up from $175 billion last year, as bargain hunters and convenience shoppers continue to flock to the Net.
Posted by Blacks on 09:24 AM | Comments (0)
April 02, 2008
Talbots Announces Three-Year Restructuring Plan
Talbots has set a three-year plan to overhaul its business by updating its fashions and concentrating on categories such as plus size and collection.
The Retail chain plans to expand the plus size category in its Misses stores as well as open 35 new Talbots Woman locations. The new Talbots Woman units will open in premium outlet locations over the next five years, the company said.
Talbots is also moving to a design-driven model with a good, better and best pricing structure, it said.
Posted by Blacks on 09:45 AM | Comments (0)
March 31, 2008
Intermix To Add Four New Doors, Expand Website
There appears to be no slowdown at Intermix. The fashion chain plans to open four new stores this spring and is making its Website international over the next three to four month.
The retailer already has 20 units and plans new stores for Charlotte, N.C.; East Hampton, NY; Orlando, Fla.; and Chicago.
Intermix has made a niche for itself in offering a variety of designer lines in one location. Intermix stores usually range from 2,500 square feet to 4,000 square feet and offer goods from some 300 vendors.
Posted by Blacks on 10:35 AM | Comments (0)
March 27, 2008
Washington, L.A. Top List Of Retail Growth Areas
Washington., Los Angeles and Dallas/Ft.Worth are among the top metropolitan areas poised for retail growth over the next five years, according to a new report by real estate advisory firm Grubb & Ellis.
The firm looked at factors such as job growth, competition and demographics to produce its rankings.
Atlanta, Houston and Philadelphia followed the top three, while Orange County and San Diego, Calif. took the seventh and eighth-place spots. The final two growth areas were Chicago and Portland, Ore.
Grubb & Ellis expects the areas to outperform other, more saturated markets and places where overall economic health is weak.
Posted by Blacks on 09:47 AM | Comments (0)
March 19, 2008
Bloomindale's Opens New In-Store Concept Shops
Bloomingdale’s is opening a handful of in-store concept shops called First Edit, featuring specialty brands not usually found in department stores.
First Edit offers merchandise from designer Michael Angel and brands such as TeenFlo and Shin Choi.
The shops are launching in Bloomingdale’s Manhattan location, as well as Chicago; Orlando; Garden City, New York; and Newport Beach and Costa Mesa, Calif.
The units are an average of 250 square feet – except in Manhattan where the store is twice that size – and target women 35 and up.
Posted by Blacks on 10:00 AM | Comments (0)
March 10, 2008
Banana Opens Higher-Priced Men's Concept Store
Banana Republic is temporarily turning its Greenwich Village store into a new men’s concept store called Monogram. The Monogram concept includes tailored and more fashion forward clothing at a higher price point. The store will be open for nine months to test customer reaction.
A Monogram women’s collection is also in the works and will debut this spring. Banana will try out the women’s collection in its own concept store when the merchandise is available.
Posted by Blacks on 10:18 AM | Comments (0)
March 07, 2008
Badgley Mischka Opens West Hollywood Store
Badgley Mischka officially launched its new 1,300-square-foot store in West Hollywood this week, offering its women’s collection, handbags and accessories.
The store is operating under a license given to a friend of the design duo, Jacqueline Sassoon. Sassoon also has first rights to operate all future Badgley Mischka stores in the U.S.
Posted by Blacks on 10:12 AM | Comments (0)
February 21, 2008
Women's Retail Apparel Prices Continue To Rise
Women’s retail apparel prices rose 0.6% in January, marking the third month of consecutive rises after a long period of deflation. Women’s wear prices inched up 0.6% in November and 0.5% in December.
Women’s outerwear saw the greatest price increases, posting a 4.9% jump in January while separates climbed just 0.5%.
Despite the increases, women’s retail apparel prices were still down 1.4% from last year.
Posted by Blacks on 10:10 AM | Comments (0)
February 19, 2008
Dolce & Gabbana Plans Fresh Push Of D&G Brand
Dolce & Gabbana is further emphasizing its D&G brand with higher-end designs and increased retail locations.
The company has already planned new boutiques in Los Angeles, New Delhi, Beijing and Kobe, Japan using a new retail concept. The concept is a seventies warehouse theme, according to reports.
D&G already accounts for 44% of Dolce & Gabbana’s wholesale sales and the company expects that number to grow.
Posted by Blacks on 09:43 AM | Comments (0)
February 14, 2008
January Retail Sales Outshine Expectations
January retail sales were better than expected, according to figures released by the U.S. Commerce Department this week. Sales at apparel and accessory stores grew 1.4% from December. This compared to a 0.1% drop in January of last year.
Department stores fared worse, reporting a 1.1% decline from December. However, this figure was still better than the 4.8% slide posted a year ago.
Economists predict that first quarter sales will continue to be tough but that the market will pick up in the second half of this year.
Posted by Blacks on 09:59 AM | Comments (0)
February 13, 2008
J.C. Penney, Ralph Lauren Launch New Brand
J.C. Penney’s and Ralph Lauren are about to rollout a new line called American Living. The line includes women’s wear, menswear, children’s clothes, footwear and home products. It will initially debut in 600 J.C. Penney stores and is predicted to bring in $1 billion in annual sales within 5 years.
Penney’s forged the deal with Ralph Lauren’s new Global Brand Concepts, a division dedicated to developing non-Ralph Lauren branded product to exclusive retailers.
Pricing on the classically-styled American Living merchandise is moderate with polos selling at about $45 and suits going for $425.
Posted by Blacks on 10:45 AM | Comments (0)
February 12, 2008
Scoop Appoints Retail Consultant As New CEO
New York-based women’s wear chain Scoop has named retail consultant Melanie Cox as its new president and CEO. Cox has worked with Cerberus Capital and Prentice Capital as a retail investment expert.
She will be charged with growing the brand both nationally and abroad.
Scoop already has 15 stores in the U.S. and recently opened a new location in Greece. Plans for a London store are also in the works.
Posted by Blacks on 09:55 AM | Comments (0)
February 04, 2008
H&M Posts Double-Digit Growth In Fourth Quarter
While economic worries have taken a toll on middle market retailers, fast fashion chain Hennes & Mauritz seems to be having no trouble driving sales.
The Swedish company’s fourth-quarter profits grew 14% to $950 million while sales increased by 17% to $3.48 billion. For the full-year ended Nov. 30, profit increased 21% to $2.83 billion.
H&M said that it benefitted from strong sales in Eastern Europe and China.
Posted by Blacks on 09:37 AM | Comments (0)
January 29, 2008
Net-a-porter In Exclusive Deal With Halston
Online retailer Net-a-porter has struck an exclusive deal with Halston to sell two of the soon-to-be relaunched brand’s runway looks the day after they debut in New York on Monday. This means that Net-a-porter will have Halston product before it is shipped to retailers.
The deal underscores the changing pace of fashion, where the Internet allows customers to see and buy new fashions almost immediately.
Net-a-porter’s fast fashion deal is also being closely watched because it showcases the return of the Halston brand, which was bought by the The Weinstein Company and Hilco Consumer Capital in March.
Posted by Blacks on 09:54 AM | Comments (0)
January 28, 2008
Outdoor Endeavors Goes Exclusively Online
Chicago-based retailer Outdoor Endeavors is closing its three brick-and-mortar stores to concentrate on its booming online business. The company originally started as an outdoor apparel operation and then slowly added some fashion categories. In 2003 it launched an e-commerce site which is now pulling in $10 million in sales a year.
With sales at its physical locations dwindling, the company plans to focus on its online business while significantly reducing its overhead.
Posted by Blacks on 09:15 AM | Comments (0)
January 25, 2008
Yamamoto Opening Two New NY Stores
Yohji Yamamoto is opening two new stores next month in New York’s Meatpacking district. A 1,500-square foot space on Gansevoort Street will contain his signature collection, while a 2,100 square foot space nearby on West 13th Street will offer the designer’s Y-3 collaboration with Adidas.
Yamamoto already has a flagship on Mercer Street which opened in 1988. The new stores are part of a greater expansion on the designer’s retail network.
Posted by Blacks on 11:27 AM | Comments (0)
January 24, 2008
LV Raises Prices To Offset Weak U.S. Dollar
Louis Vuitton raised its U.S. prices by 5% this week in an effort to offset the declining value of the U.S. dollar, which is eating into the European company’s margins.
LV is betting that consumers will tolerate the increase despite the economic downturn. A number of luxury vendors have already been affected by a slowdown in spending amongst U.S. consumers. It will be interesting to see if shoppers are put off by LV’s price rise or if the strength of the brand will insulate it from sticker shock.
Posted by Blacks on 09:49 AM | Comments (0)
January 16, 2008
Mayor Tries To Block Fast Fashion On The Champs-Elysées
Swedish fast fashion chain Hennes & Mauritz is once again being thwarted in its efforts to open a store on Paris’s famed Champs-Elysées. H&M’s initial request to have a location on the street was rejected because the commission thought the store was too “banal” but that decision was eventually overturned. Now Paris’s mayor is trying to block the move again and has appealed to the commission to reject H&M’s bid.
A decision isn’t expected for several months.
Posted by Blacks on 05:47 PM | Comments (0)
January 09, 2008
Calvin Klein Puts Retail Push Behind White Label
Calvin Klein opened a new 12,000-foot store in L.A. this month as part of an expansion of the brand’s white label line. The store is located in the Beverly Center and features sportswear, jeans, fragrances and accessories.
More Calvin Klein stores are slated to open in 2008, in Costa Mesa, Las Vegas and Miami.
The company said that up to 125 units could eventually be scattered across the U.S. as it continues to push the casual White Label experience.
Posted by Blacks on 10:55 AM | Comments (0)
January 08, 2008
Houston Loses Top Luxe Retailer
Luxury specialty store Mix: Modern Classics in Houston shut its doors last month because its owner decided to relocate to Manhattan. The closing affects a number of high-end shoppers who used to count on the shop to locate pieces by designers such as Comme des Garçons and Alexander McQueen.
Mix owner Evelyn Gorman told WWD that business had been challenging in recent months and the strength of the euro made the price of European goods prohibitive.
Blacks is curious to see if another retailer steps in to fill Mix’s shoes and serve Houston’s luxury customers.
Posted by Blacks on 10:04 AM | Comments (0)
January 07, 2008
Luxury Handbag Sales To Slow
The luxury handbag market has slowed, partly due to “aspirational shoppers” feeling short on cash. Aspirational shoppers are defined as middle class consumers who occasionally splash out on luxury goods.
Accessories Magazine predicts that growth in handbag sales will slow to 4% this year, down from the 8% growth rate recorded for 2006.
Posted by Blacks on 10:04 AM | Comments (0)
January 04, 2008
Talbots Exits Men's, Kids Businesses
Talbots Inc. announced that it is exiting its men’s and kids business by September of this year. The move will result in the closure of 78 stores.
After a review of its business, Talbots decided to concentrate on its core women’s wear lines, where it sees the greatest amount of growth potential.
The closures are expected to impact the company’s revenue by $100 million a year and produce an operational benefit of $13 million to $15 million annually.
Posted by Blacks on 10:38 AM | Comments (0)
January 02, 2008
Macy's To Close Nine Low-Volume Locations
Macy’s is shuttering nine stores that didn’t meet its minimum volume requirements and have low growth prospects. The stores, which include locations in Ohio, Texas, Oklahoma, Utah and Indiana, will be closed over the next several weeks.
Macy’s CEO Terry Lundgren played down the closings by saying that the company would open new stores in better performing markets. Five openings are planned for 2008 and nine for 2009.
Posted by Blacks on 09:43 AM | Comments (0)
December 31, 2007
Huge Spike Seen In Online Holiday Sales
Online holiday sales increased by 19% over last year, according to market researcher ComScore. What’s more, online sales are expected to continue to climb in the week following Christmas, it said.
The research firm predicted that online sales would total almost $30 million for the 2007 holiday season.
Posted by Blacks on 09:50 AM | Comments (0)
December 28, 2007
Specialty Stores See Modest Pre-Holiday Gains
Sales picked up for specialty apparel retailers in the week before Christmas, but came nowhere near last year’s gains, according to a survey conducted by Blacks.
Menswear sales increased by 6.8% while sales of women’s wear increased by 2.7% over the same week last year. These results compare to a 13.3% surge in menswear and a 12.2% gain in women’s for the same period in 2006.
“Women’s wear was particularly hard hit by the lack of new fashion to drive sales,” said Blacks Senior Consultant Steve Pruitt.
Posted by Blacks on 10:23 AM | Comments (0)
December 27, 2007
Last Minute Shopping Boosts Holiday Sales
Heavy discounting helped spur sales in the last days before Christmas, according to data released by MasterCard SpendingPulse.
In the last weekend before Christmas sales spiked 18.7% over the same period last year. This compares to a relatively small gain over the entire holiday season. Between Thanksgiving and the Monday before Christmas in store and online sales increased by just 3.6%, according to MasterCard.
Posted by Blacks on 02:42 PM | Comments (0)
December 17, 2007
DKI Makes Moves Into Better Menswear Market
Donna Karan is planning a foray into the better menswear business through a series of licenses. One of which is DKNY Gray label, which has been licensed Phillips-Van Heusen. It consists of shirts and ties retailing for around $50 to $60.
Donna Karan is also reportedly negotiating with Liz Claiborne for a sportswear license and Peerless Clothing for suits. An outerwear license has been snapped up by Collezione SA, according to reports.
Posted by Blacks on 09:53 AM | Comments (0)
December 14, 2007
Nov. Retail Sales Outpace Expectations
Sales at apparel and accessories stores outstripped sales at department stores in November, according to a recent report from the U.S. Commerce Department.
Apparel and accessory store sales increased by 2.6% versus department stores’ 1% gain.
Economists were also pleased to see that total retail and food services sales outpaced expectations in November. They grew by 1.2% from October which was nearly double what economists had predicted.
Posted by Blacks on 09:25 AM | Comments (0)
December 13, 2007
"Green Monday" Takes The Lead In Online Sales
Forget Cyber Monday – “Green Monday” is now the busiest online shopping day of the year. Online retailers reported a sales surge for the second Monday in December, when the reality of the holiday season apparently set in.
Traffic on Dec.10 jumped 54% over last year, according to shopping comparison site Shopping.com.
Consumers showed strong demand for cashmere, designer handbags, boots, perfume and diamond jewelry, according to Shopping.com, Nordstrom.com and Amazon.com.
Posted by Blacks on 09:43 AM | Comments (0)
December 11, 2007
Blacks Survey: Holiday Sales Start To Slow
Although retailers had a bright start to the holiday shopping season in the week following Thanksgiving, last week’s sales lagged. Blacks survey of specialty retailers showed menswear slipping 6.1% and women’s wear dropping 6.6% compared with the same period last year.
Retailers reported slower traffic, but the shoppers who were out gravitated toward luxury-priced items.
The good news for retailers is that there’s an extra shopping day in the weekend before Christmas this year, since the holiday falls on a Tuesday. We’re expecting sales to pick up again as we get closer to Christmas.
Posted by Blacks on 09:58 AM | Comments (0)
December 07, 2007
November Sales Beat Expectations
November same-store sales came in higher than expected, according to recent reports. Specialty stores saw an average 15.8% gain while department stores saw an increase of 12%, according to WWD.
A survey by MasterCard said that sales of men’s apparel grew 7%, just a hair more than overall apparel increase of 6.9%. Women’s apparel was down by 3.9%, however.
Overall, analysts are cheering the November results, given that the holiday shopping season got off to a late start. It remains to be seen what December will bring, but Blacks expects year-over-year gains in the mid single digits.
Posted by Blacks on 09:58 AM | Comments (0)
December 06, 2007
Online Apparel Sales Continue To Boom
Shoppers looking for contemporary clothing are increasingly turning to the Web, offering a boost to retailers with an online presence. Online sales of clothing, footwear and accessories are expected to top $22.1 billion this year, according to a report by Shop.org. This compares to sales of $18.3 billion last year.
The report predicted that 10% of all apparel sales will be made online this year, compared to 8% last year.
Recognizing this growth, brick and mortar retailers are increasingly turning to the Web to expand their businesses. Some are even launching sites to target overseas markets.
Posted by Blacks on 09:49 AM | Comments (0)
November 27, 2007
Cyber Monday Sales Continue To Climb
Companies raked in more than $700 million in online sales on Cyber Monday, according to research done by Akamai.
The National Retail Federation (NRF) said that over 72 million shoppers planned to make purchases online during the biggest e-commerce day of the year. This compares to 61 million who planned to shop on Cyber Monday of last year.
The Monday following Black Friday has become a boon for online retailers. This year, e-commerce sites offered a host of promotions to try to lure in customers with apparent success.
Posted by Blacks on 09:32 AM | Comments (0)
November 26, 2007
Black Friday Sales Surge 8.3% Over Last Year
Despite widespread concerns over the economy, Black Friday sales increased by 8.3% over last year, according to research by ShopperTrak.
However, the amount of money consumers spent over the Thanksgiving weekend declined to $348 from $360 last year.
Consumers were drawn in by promotions at discount chains, according to ShopperTrak.
In apparel, outerwear, cashmere and accessories such as hats, scarves and gloves performed well. Diamond jewelry was also a strong seller.
Posted by Blacks on 09:21 AM | Comments (0)
November 15, 2007
Seven For All Mankind Opens First Retail Shop
Denim brand Seven For All Mankind is opening its first retail store in Miami this week. The 3,100-square-foot shop is located on Robertson Boulevard and aims to attract luxury shoppers with a clean aesthetic.
In addition to denim, the store carries footwear, handbags and outerwear. The store is the first of 100 doors that the company plans to open over the next five years.
Posted by Blacks on 09:43 AM | Comments (0)
November 14, 2007
NRF: Holiday Shoppers Off To Slow Start
Holiday shopping is off to a slow start this year, but the recent arrival of cold weather should kick consumers into gear, according to the National Retail Federation (NRF).
The NRF just released a survey saying that 71.4 percent of consumers have completed less than 10 percent of their holiday shopping so far.
Unseasonably warm weather and economic turbulence have been blamed for the slowdown, but sales are expected to pick up in coming weeks. Once again, gift cards are predicted to be big sellers this year, along with winter goods.
Posted by Blacks on 09:52 AM | Comments (0)
November 12, 2007
Brooks Bros. Opens New Manhattan Store
Brooks Bros. opened a new 9,300 square foot store in Manhattan, offering a glimpse at its new format. The two-floor location carries men’s furnishings on the relatively small first floor and men’s and women’s sportswear, outerwear, formalwear and accessories on the larger second floor.The look is clean and traditional.
The new store is expected to generate a volume of $9 million a year within two years.
Posted by Blacks on 08:08 AM | Comments (0)
November 05, 2007
Tom Ford To Open Five-Floor Milan Store
Tom Ford has selected Milan as the location for his first company-owned shop, with plans to open other doors in London, Zurich, Tokyo, Hong Kong and Kuwait.
The Milan store is a five-story, 9,000 square-foot space on Via Pietro Verri which will carry Ford’s new menswear collection, along with footwear and accessories, fragrances and eyewear.
The Milan store is set to open this spring, followed by the rollout of other locations.
Posted by Blacks on 08:53 AM | Comments (0)
October 26, 2007
Macy's In Exclusive Deal With Tommy Hilfiger
Macy’s has penned a deal with Tommy Hilfiger to be the exclusive distributor of the brand’s sportswear line in the U.S. Macy’s already carries Tommy Hilfiger men’s wear, women’s wear and accessories under nonexclusive licenses.
Over the next few months Hilfiger will phase out distribution of its sportswear to other department stores, although it will still sell it in its freestanding stores and online.
The deal gives Macy’s an added air of exclusivity and strengthens Hilfiger’s position at the department store chain.
Posted by Blacks on 09:39 AM | Comments (0)
October 25, 2007
Talbots Lowers Expectations For Fall
Talbots curbed its expectations for fall sales after a weaker-than-anticipated quarter. The retailer said that it expects sales to be $65 million to $75 million below plan for fall after a disappointing start to the season.
Poor merchandise choices and unseasonably warm weather are being targeted as reasons for the loss.
The company said it has hired a consulting firm to evaluate its business and develop new sales strategies.
Posted by Blacks on 09:31 AM | Comments (0)
October 24, 2007
Despite Strong Q1, Coach Sees Slower Traffic
Coach Inc. posted a 23% jump in its first quarter income to $155 million. The leather goods company cited strong direct-to-consumer sales, which increased 26% to $508 million.
Coach warned, however, that traffic to its U.S. retail stores was slowing. While the company is currently being cautious it still plans to open 40 new stores in the U.S. over the next few years, saying overall its business is very strong.
Posted by Blacks on 12:52 PM | Comments (0)
October 23, 2007
Report: J. Crew Planning Standalone Men's Store
J. Crew is planning to open a standalone menswear store, according to recent reports. The company has seen a surge in its men’s business and the separate menswear floors in its regular J. Crew shops are attracting customers, it said.
The company is not clear where and when the men’s shop will debut, but all eyes are on its next move.
Posted by Blacks on 08:20 AM | Comments (0)
October 19, 2007
New York & Co. To Exit JasmineSola Chain
New York & Co. is closing its chain of JasmineSola stores to pursue higher revenue opportunities. The company plans to shutter its 23 JasmineSola stores by the end of the year. At least some of the stores will be converted into New York & Co. locations.
JasmineSola focuses on trendy clothes and accessories younger women while New York & Co targets more mature career women.
Posted by Blacks on 09:42 AM | Comments (0)
October 10, 2007
NRF Predicts 4% Climb In Holiday Sales
Holiday sales are expected to climb 4% from last year to $475 billion, according to the National Retail Federation. The group is expecting a somewhat challenging season due to continued economic instability. Many retailers are already discounting, the group said, without explicitly mentioning the holidays in an effort to promote early sales.
We predict that luxury sales will remain a bright spot, however, as luxury buyers remain largely unaffected by the softening economy.
Posted by Blacks on 10:04 AM | Comments (0)
October 05, 2007
Report: Hermès Pondering Men's Stores
Hermès is thinking about opening stand-alone men’s stores, according to a recent report in WWD. The French luxury brand has seen steady annual growth of 10 percent to 15 percent in its menswear business in recent years and wants to test expansion of the category.
Potential markets include the U.S. and China where there is a high rate of spending in luxury categories.
Posted by Blacks on 09:45 AM | Comments (0)
October 01, 2007
YSL Has High Hopes For New Online Boutique
Yves Saint Laurent is hoping to cash in on e-commerce sales this holiday season with the launch of a new Website and online boutique. The site, at YSL.com, is being relaunched with a heavy use of Flash, visuals and exclusive features.
The company says it expects its online channel to become one of its top revenue producers over the next few years and from the look of recent luxury online sales growth we believe it.
Posted by Blacks on 10:19 AM | Comments (0)
September 26, 2007
Dsquared Opens Milan Store; Plans Expansion
Dsquared is officially launching its first retail store in Milan this week, corresponding with the city’s fashion week. The 5,000 square foot location houses menswear, women’s wear, accessories and even a champagne bar. The store has a woodsy theme and is made of timber blocks, with touches such as a plasma screen fireplace.
Dsquared plans to launch up to 25 additional retail stores over the next three years in fashion capitals such as New York, Paris and London as well as other major cities.
Posted by Blacks on 10:11 AM | Comments (0)
September 24, 2007
Old Navy Taps Todd Oldman As Creative Director
As part of a turnaround plan, Old Navy has hired designer Todd Oldham as its new creative director. In addition to owning his own design studio, Oldham has appeared in a number of design-related TV shows and has licensed his name to a number of home products.
The 45-year old designer is seen is having mass appeal and could be a good fit for the struggling retail chain.
When he takes his post Oct. 1, Oldham will begin working on Old Navy’s core product line and will eventually create a Todd Oldham collection to be sold exclusively at the stores.
Posted by Blacks on 09:21 AM | Comments (0)
September 18, 2007
Gap Sued For Allegedly Copying T-Shirt Design
French brand Zadig & Voltaire is suing Gap for allegedly copying a popular T-shirt design. The spar is over a T-shirt dubbed the “Tunisien,” which features decorative buttons and a curved neckline. According to the claim, the French label sells its shirt for 79 euros, or $110 at today’s exchange rate, while the Gap sells its version for $29.
Zadig is taking Gap to commercial court over the matter with claims of counterfeiting and unfair competition.
Posted by Blacks on 10:55 AM | Comments (0)
September 17, 2007
Gant's Fifth Ave. Flagship Gets A Makeover
Gant reopened its Fifth Avenue flagship this week after a major revamp that gave the store an additional 2,000 square feet, designer architectural details and a dedicated women’s wear space.
The four-story location is the first to show off Gant’s full collection of offerings, including its extensive men’s wear collection, its women’s lines and children’s clothes.
The space is designed to evoke a museum-like feel, with a spiral staircase reminiscent of the Guggenheim and a gallery that shows off the history of the brand.
Posted by Blacks on 08:57 AM | Comments (0)
September 14, 2007
August Retail Sales Come In Lower Than Expected
Retail sales of clothing slipped 0.1 percent in August, according to U.S. Commerce department figures. Meanwhile, department store sales fell 0.2 percent, disappointing analysts who expected higher returns.
Total retail sales rose just 0.3 percent after a drop of 0.4% in August.
Posted by Blacks on 09:51 AM | Comments (0)
September 12, 2007
Buyers Move From Fashion Week To Coterie
With New York Fashion Week coming to a close buyers are already preparing for the Coterie trade show which will open in the Big Apple Sept. 18. Better, bridge, evening wear and shoe lines will be shown at the Jacob K. Javits Convention Center while contemporary and accessory lines will be housed at Piers 90, 92 and 94.
Over 15,000 attendees are expected to turn out for what’s considered as one of the most important buying shows of the year. Coterie will run until Sept. 20th.
Posted by Blacks on 06:42 AM | Comments (0)
September 10, 2007
Report: Retailers Move Away From Monthly Comps
Some mainstream retailers are choosing not to report monthly same store sales, according to a recent news report. Retailers such as Bebe, Guess and Talbots are opting to report quarterly sales instead, saying that monthly comps fail to take calendar shifts and seasonal disruptions into account and often miss larger trends.
If the movement away from comps continues it may be harder for stockholders and industry watchers to gauge the current temperature of the retail market. However, some retailers feel that the quarterly numbers better represent market activity.
Posted by Blacks on 08:53 AM | Comments (0)
September 07, 2007
Dept. Stores Report Strong August Comps
Upscale department stores reported better than expected same store sales for August, driven by men’s wear, accessories, shoes and jewelry.
Saks Fifth Avenue reported a same store increase of 18.2 percent while Nordstrom saw a 6.6 percent gain.
Mass market retailers showed more mixed results. The Gap was up 2 percent in August, Banana Republic showed a 7 percent gain and Old Navy slipped 4 percent.
Posted by Blacks on 11:01 AM | Comments (0)
August 17, 2007
Saks Opens Shoe Dept. With Its Own Zip Code
Saks Fifth Avenue in Manhattan unveiled its massive new shoe floor this week, featuring 1,000 to 2,000 shoes on display and 10,000 square feet of selling space.
The 8th floor is so expansive it merits it own zip code – 10022-SHOE – which is also the name of the department.
Saks said that footwear is one of its fastest-growing categories and it decided to revamp the department to fit in more designer brands. It now carries shoes from over 50 vendors and offers substantial presentation space to showcase the different lines.
Posted by Blacks on 09:40 AM | Comments (0)
August 14, 2007
J. Crew Launches Luxury Line
J. Crew is stepping into the luxury market with the release of a new Collection line featuring higher priced, limited edition items. J. Crew Collection will launch with its own Website this fall and a Collection store in slated to open in New York next spring.
The retailer has selected a 2,500-square foot unit on Madison Ave. to showcase its new concept. If the initial Collection store does well, more locations could be in the works.
The company already tested consumer reaction to its luxe line in J. Crew stores, saying there was demand for items such as its $595 cashmere jacket and $1,950 silk gown.
Posted by Blacks on 02:02 PM | Comments (0)
August 10, 2007
Department Stores Report Strong Comps For July
Department store chains fared well in July, reporting same-store sales that exceeded expectations. Saks Fifth Avenue reported a 14.9 percent gain, while Nordsrom’s sales climbed 9.4 percent. Neiman Marcus saw an increase of 8.3 percent for the month, and released preliminary annual results with sales up 8.9 percent to $4.4 billion.
Mass market retailers did not do as well, claiming they were hurt by a late start to the fall school semester which took a bite out of back-to-school sales.
Posted by Blacks on 09:52 AM | Comments (0)
July 23, 2007
Brands Sue Forever 21 For Copying Designs
Fast fashion retailer Forever 21 is facing a bevy of lawsuits from designers who claim the chain is knocking off their designs. Bebe, Diane von Furstenberg, Anthropologie and Anna Sui are just a few of the brands taking legal action against the retailer for intellectual property violations.
Forever 21 doesn’t have its own in-house design team and is accused of stealing designs from other vendors, according to reports.
The cases could put the spotlight on fast fashion retailers in general and encourage more designers to copyright their fabric designs.
Posted by Blacks on 09:27 AM | Comments (0)
July 19, 2007
Women's Apparel Prices Slip In June
Women’s retail apparel prices dipped 1.4 percent in June – despite an overall increase in consumer prices – indicating an increased level of discounting.
The biggest cuts came in activewear, nightwear and accessories, followed by suits and separates.
June dress prices increased by 1.1 percent, however, underscoring the strong dress trend we’ve been seeing for the past couple of seasons.
Posted by Blacks on 09:33 AM | Comments (0)
July 13, 2007
Retail Sales Slow In June; Luxury A Bright Spot
Retail sales posted their largest drop in two years in June, dipping 0.9 percent, according to the U.S. Commerce Department. The dip comes after a strong first quarter of spending and a 1.5 percent decline in May.
In general, specialty retailers and discounters fared better than department stores. Luxury chains like Saks and Neiman Marcus were the best performers, posting year-over-year sales increases of 5.6 percent and 6.4 percent, respectively.
Posted by Blacks on 08:17 AM | Comments (0)
July 12, 2007
Claiborne Puts 16 Smaller Brands On Review
Liz Claiborne has put 16 of its smaller brands on review while it focuses its attention on major brands such as Juicy Couture, Lucky Brand, Kate Spade and Mexx.
The move is part of Claiborne CEO William L. McComb’s turnaround plan to cut costs and speed up the company’s fashion cycles.
The plan could involve the dissolution or possible sale of mid-tier brands such as Ellen Tracy, Sigrid Olsen and Dana Buchman.
Posted by Blacks on 09:42 AM | Comments (0)
June 28, 2007
Supreme Court: Minimum Prices No Longer Illegal
Minimum prices set by manufacturers and retailers are no longer automatically illegal under antitrust law, the Supreme Court ruled on Thursday.
The decision overturns a 96-year precedent and is a victory for manufacturers who want to enforce certain product prices. The court said that minimum price agreements are legal if they promote competition.
However, the ruling comes as a blow to discounters and Internet retailers who compete by offering deep price cuts.
The high court went against the wishes of 37 states and several consumer groups to take a softer stance on the issue. It will now determine whether price setting agreements are illegal on a case-by-case basis.
Posted by Blacks on 09:04 AM | Comments (0)
June 20, 2007
PVH Sees Growth In Calvin White Label Stores
If Phillips-Van Heusen has its way, Calvin Klein stores will soon be sprinkled across the U.S. The fashion holding company sees real growth potential in Calvin Klein boutiques offering the brand’s better white label collections.
PVH plans to open five stores at the end of this year and five in 2008. If the concept sticks, it could turn into a 100-store chain.
Posted by Blacks on 09:49 AM | Comments (0)
June 19, 2007
Supreme Court Case Could Affect Pricing Policies
The Supreme Court is currently weighing a case that may give vendors more control over how retailers price product. The case is an appeal of an earlier ruling in favor of discount firm Kay’s Kloset, which was sued by Leegin Creative Leather Products for selling its goods below the vendor’s minimum asking price.
If Leegin wins its appeal at the high court, vendors could have much more say on product pricing than they do currently.The sea change would primarily affect discount stores that are trying to compete against pricier rivals.
Posted by Blacks on 07:36 AM | Comments (0)
June 06, 2007
Pendleton Spins Expansion Plans
Pendleton Woolen Mills is rolling out a new retail concept that emphasizes the company’s heritage in weaving and fabric. The Portland-based company plans to open 30 new retail stores over the next few years decorated with woven elements and brand logos.
Pendleton recently reopened its Portland store, offering a prototype of the concept. The company offers better men’s wear, women’s wear and accessories and is now trying to attract a younger customer than its traditional baby boomer base.
Posted by Blacks on 09:27 AM | Comments (0)
May 31, 2007
Net-a-porter Nets Major Growth
Luxury e-tailer Net-a-porter reported a revenue surge of nearly 75 percent to $72 million for its last fiscal year. The increase was attributed to a rapid expansion in its customer base.
Net-a-porter said that consumers are becoming more accustomed to buying luxury clothing online and that it’s average order value is around $1,000.
Blacks’s Take: The company’s success should be encouraging news for luxe retailers who are contemplating a move online.
Posted by Blacks on 09:42 AM | Comments (0)
May 30, 2007
Consumer Confidence On The Upswing
Consumer confidence rebounded in May from the 5-month low it reached last month, according to a survey by the Conference Board.
The group’s Consumer Confidence index rose to 108, from its April level of 106.3. Consumers are feeling more optimistic about the current business landscape, although concerns remain over high gas prices and the lackluster job market.
The survey results are consistent with a 3 percent rise in consumer spending, the Board said.
Posted by Blacks on 09:11 AM | Comments (0)
May 29, 2007
National Retailers Take Steep, Planned Markdowns
The large national retailers are already taking serious markdowns to rid themselves of some spring/summer goods.
Chain department stores, such as Barneys and Saks, are holding “pre-sales” of 30 percent to 50 percent off. Barneys has reduced women’s and men’s collections by a third. All sales are highly planned to correspond with the arrival of early fall goods.
Speaking of fall, the new Jil Sander line encapsulates elegant simplicit. For the jetset, Goyard luggage is sure to be a must-have.
Posted by Blacks on 09:10 AM | Comments (0)
May 23, 2007
Nordstrom Suits Up For Agressive Growth
Nordsrom has hit its stride and is making aggressive expansion plans for both its brick and mortar and online businesses. The department store chain plans to add at least 26 new stores over the next five years, as well as remodel seven of its existing stores annually.
The retailer also plans to double its online sales over the next three years to $1 billion.
The market push comes on the heels of rosy first quarter results that saw revenues rise by 9.3 percent to nearly $2 billion.
Posted by Blacks on 09:02 AM | Comments (0)
May 15, 2007
Federated Invests In Futuristic Mall Concept
Mall shopping could never be the same again. At least, Federated Department Stores and its new equity partners hope so. The group is investing in a new mall format called Epicenter Collection which will showcase online, catalogue and manufacturing companies that don’t currently have a brick and mortar presence in one huge retail space.
Federated and its partners have formed a company called Convergent Retail LLC which will launch the first Epicenter in Newark, Del. in early fall 2008. The new center will fill over 180,000 square feet in an old Lord & Taylor location.
Customers can pay using a device that allows them to select and buy products without waiting in line, or they can make their purchases at touch-screen kiosks and traditional checkout counters.
If the concept is a success, there could soon be Epicenters popping up at malls across the country.
Posted by Blacks on 09:22 AM | Comments (0)
May 11, 2007
Kate Moss Line Sells Out At Barneys
Barneys New York was apparently unprepared for the demand for Kate Moss’s new TopShop line since it sold out in about an hour.
At the retailer’s Madison Avenue location, shoppers reportedly scooped up pieces as fast as they could, and even stripped down mannequins.
Barneys said it ordered 11,000 units of the 26-piece line and plans to double its order for fall.
Posted by Blacks on 09:28 AM | Comments (0)
May 02, 2007
Claiborne's Earnings Drop On Wholesale Slowdown
Liz Claiborne Inc.’s first quarter earnings dropped nearly 66 percent to $16 million due to weak wholesale demand for its women’s sportswear, the retailer said this week.
Sales of wholesale apparel dipped 7.4 percent, due to the dwindling market for bridge lines such as Ellen Tracy and Sigrid Olsen and retailers’ increased use of private label brands, the company said.
The good news was that retail sales were up 15.6 percent thanks to the addition of new locations.
Posted by Blacks on 09:41 AM | Comments (0)
April 17, 2007
7 To Open First Standalone Store In L.A.
7 For All Mankind is opening its first standalone store in Los Angeles later this year. The 3,000-square foot shop on Robertson Boulevard will carry men’s, women’s and children’s denim as well as sportswear and accessories.
The denim brand says that the new location is part of a larger expansion plan that will see 7 shops moving into a number of metropolitan areas.
Blacks’s Take: Given the slowdown of all-denim operations, 7 should make sure its sportswear and accessories also have a good showing.
Posted by Blacks on 09:12 AM | Comments (0)
April 13, 2007
March Comps Get Early Easter Treat
Retail sales got a special treat this March from the early arrival of Easter. Sales leading up to the holiday boosted same-store comps by an average 8 percent in department stores and 7 percent in specialty stores, according to analysts.
Warmer weather in parts of the country also helped jumpstart sales of spring merchandise.
Blacks’s Take: While March benefitted from the early Easter holiday, we could see a dip in April’s year-over-year sales.
Posted by Blacks on 09:41 AM | Comments (0)
April 05, 2007
Federated Expects Online Sales To Reach $1B
Federated Department Stores is determined not to be left out of the online sales boom and plans to spend $100 million to update its Internet operations.
The retailer says that its direct-to-consumer sales increased from $450 million in 2005 to $620 million last year. It hopes to exceed the $1 billion mark after its expansion efforts.
Blacks’s Take: Federated is doing the right thing by capitalizing on the strength of its brands and keeping up with the competition.
Posted by Blacks on 08:20 AM | Comments (0)
April 03, 2007
Miyake To Open Standalone Store In Osaka
Issey Miyake is opening his first standalone store with a complete collection of his merchandise in Osaka, Japan. The store, due open April 20, is called Elttob Tep (PET bottle spelled backward) and will feature all of Miyake’s brands as well as lines from emerging talents.
The 4,600-quare foot store is expected to generate sales of $2.5 million a year.
Blacks’s Take: Miyake’s experiment is another example of designers taking control of their retail environments and increasing the “lifestyle” appeal of their brands.
Posted by Blacks on 09:37 AM | Comments (0)
April 02, 2007
Topshop Bets On Kate To Open New Markets
Topshop plans to use its upcoming capsule collection designed by Kate Moss to break into international markets. The British ‘fast fashion’ retailer will debut Kate’s line in Britain May 1 and then launch the collection in 19 Barneys New York stores on May 8th.
The supermodel-designed line will eventually be available in 20 countries outside of the U.K.
Blacks’s Take: Considering Moss’s worldwide status as a fashion icon, Topshop is making a smart bet to crack new markets.
Posted by Blacks on 09:57 AM | Comments (0)
March 08, 2007
Feb. Fails To Cool Sales At Luxe Stores
February turned out to be a frosty month for middle market retailers, but luxury merchants continued to thrive, reporting strong early spring sales.
Saks reported a 25% increase in same store sales for the month, while Nordsrom reported a 9% jump.
Mainstream players such as Gap and Bebe fared worse, however, showing declines of 4% and 2.2%, respectively.
Posted by Blacks on 08:15 AM | Comments (0)
March 05, 2007
Neiman Pushes Ahead With Cusp Concept
Neiman Marcus is keeping up the momentum behind its Cusp concept stores with the opening of a new store in Georgetown, Washington.
Cusp, which is aimed at fashion conscious 25 to 45 year-old women, was launched last summer with stores in Virginia and Los Angeles. Neiman is now pushing ahead with additional locations, including one in Chicago which is due to open in July.
The concept is centered around looks rather than particular brands.
Posted by Blacks on 11:09 AM | Comments (0)
February 27, 2007
Federated Changes Name To Macy's
Federated Department Stores is changing its name to Macy’s Group Inc. in an effort to heighten the profile of its Macy’s brand. The group, which also owns the Bloomingdale’s chain, acquired May Department Stores in August of 2005 and has been converting them to Macy’ stores nationwide.
The name change announcement came as Federated reported a 4.9% profit increase for its fourth quarter. The new name is subject to shareholder approval.
Posted by Blacks on 09:43 AM | Comments (0)
February 26, 2007
Gap To Close Forth & Towne Concept Stores
In another indication that Gap is facing hard times, the company announced that it is closing its Forth & Towne division.
The Forth & Towne concept was introduced just 18 months ago as part of an effort to target women over the age of 35.
Gap said it didn’t see any long-term revenue potential in the stores and is closing all 19 locations.
Posted by Blacks on 09:38 AM | Comments (0)
February 21, 2007
Nicole Miller Signs Tailored Clothing Deal
Nicole Miller has signed a licensing deal with Bagir Ltd. to manufacture tailored clothing for its signature collection, as well as the brand’s new line for J.C. Penney.
The deal underscores the designer’s belief that suits and tailored pieces are ready for a rebound.
Israel-based Bagir has production facilities in China, Vietnam and Egypt and has recently madea name for itself with its inventive fabrications.
Posted by Blacks on 12:44 PM | Comments (0)
February 20, 2007
La Perla Slips Into RTW & Accessories
High-end lingerie brand La Perla is expanding into ready-to-wear and accessories. The company is showing off its RTW line in Milan today and has entered into a licensing deal with Finduck for handbags and leather goods. The company even has a footwear deal in the works with Balden.
The footwear line will be available in the fall and its handbags and accessories will appear under the Grigioperla label this spring.
Posted by Blacks on 10:08 AM | Comments (0)
February 08, 2007
Retailers Report Strong Jan. Sales
Retailers are reporting better-than-expected post-holiday sales. A survey of major chains showed a 3.9% increase in same store sales for January, compared to the 4.9% jump they recorded in 2006.
Federated Department Stores posted an 8.6% increase for the month after Christmas, far outpacing the chain’s own growth estimate of between 1.5% and 3%.
Even Gap posted smaller losses than expected, with a 6% decrease in sales in North America, compared to an estimated drop of 9%.
Posted by Blacks on 09:51 AM | Comments (0)
January 16, 2007
NRF Predicts Sales Slowdown In 2007
Retail sales are expected to grow by 4.8% in 2007, slower than last year’s 6.8% gain, according to the National Retail Federation. The trade group predicted sluggish sales for the first half of 2007 with a pickup in the second half of the year.
Consumers will be affected by a weak economic environment, although the luxury and online shopping sectors will continue to thrive, the group said.
Posted by Blacks on 10:23 AM | Comments (0)
January 12, 2007
Chopard To Open NY Flagship
Chopard is replacing its Madison Ave. boutique with a 3,000-square foot flagship that will be more suited to its growing retail business. The fine jewelry and watch company plans to close its existing New York store this summer and will open the new flagship at 709 Madison Ave.
The new store is being designed by award-winning designer Thierry W. Despont. In addition, Chopard is updating its other six U.S. locations with Despont’s plans.
Posted by Blacks on 09:26 AM | Comments (0)
January 10, 2007
Speculation Swirls Over Possible Gap Sale
All eyes are on Gap this week as the stumbling retail chain tries to find a direction following news of shrinking sales.
The San Francisco-based company recently hired investment banking firm Goldman Sachs to help it explore its options, leading to speculation of a potential sale to private equity groups or other interested parties.
The Gap had a tough holiday season, with same-store sales down 8 percent in December. It remains to be seen what direction the company will take, but executives could be moving closer to a decision after meeting in San Francisco earlier this week.
Posted by Blacks on 09:36 AM | Comments (0)
January 03, 2007
Online Holiday Spending Up 26%
Internet sales leaped 26% for the 2006 holiday season, bringing in over $26 billion.
Although the spike spells good news for online retailers, the trend threatens traditional brick-and-mortar retailers who are challenged to compete with online rivals who can often offer a larger selection at lower overhead.
Now it’s up to specialty apparel retailers to set themselves apart by selling luxury and exclusive items with excellent customer service.
Posted by Blacks on 10:08 AM | Comments (0)
November 30, 2006
Same-Store Sales Slow In November
Retail sales slowed in November, according to data from the International Council of Shopping Centers.
Same-store sales rose just 2.1% in the month, compared to a 3.8% increase last year. While sales improved around the Thanksgiving weekend, economists expressed concern that an early December lull could weigh down holiday sales, leading to discounting later in the month.
Posted by Blacks on 10:09 AM | Comments (0)
November 28, 2006
'Cyber Monday' A Success For Online Retailers
Sales for Black Friday’s online equivalent, “Cyber Monday,” are expected to beat records this year, pointing to an even stronger holiday season for retailers.
Online sales for the Monday following Thanksgiving are expected to surge 24% to nearly $600 million compared to the same day last year, according to Web researcher ComScore Networks, Inc.
Furthermore, online sales for Black Friday, or the day after Thanksgiving, are expected to be 42% higher than last year, the researcher said.
The news points to the importance of having an online presence, as consumers get more and more accustomed to shopping and researching purchases online.
Posted by Blacks on 09:46 AM | Comments (0)
November 27, 2006
Holiday Shopping Off To A Strong Start
Black Friday was a resounding success for many retailers as consumers took advantage of the long Thanksgiving weekend to scoop up holiday gifts.
Research firm ShopperTrak RCT said that nationwide sales increased 6% to nearly $9 billion on Friday compared to the previous year.
Meanwhile, the National Retail Federation said that the consumers it surveyed spent an average 19% more over Thanksgiving weekend than they did last year.
The largest sales increased came in electronics and discount goods, with apparel showing more moderate gains. However, apparel sales tend to spike in the last week before Christmas, according to research by MasterCard.
Posted by Blacks on 09:37 AM | Comments (0)
November 17, 2006
Women's Apparel Prices Drop In Oct.
Retail prices for women’s apparel dipped 1.9% in October, with suits and separates showing the biggest drops, according to Labor Department figures. The October decline indicates that retailers took early reductions by holding pre-winter sales.
Prices are still up 0.6% for the year, thanks to gains in previous months.
Posted by Blacks on 10:19 AM | Comments (0)
November 16, 2006
Saks Reopens In Recovering New Orleans
Saks Fifth Avenue is reopening in New Orleans today, making it the first department store to reopen in the downtown area devastated by Hurricane Katrina.
The store had been looted and suffered fire damage. Saks executives put accelerated reconstruction plans in place to restore the location. Other downtown department stores such as Lord & Taylor and Macy’s remain closed.
The New Orleans Saks will continue to focus on women’s ready-to-wear.
Posted by Blacks on 10:18 AM | Comments (0)
November 02, 2006
October Comps Show Slowdown
Same-store sales fell from their September highs in October, but still showed healthy year-over-year growth. Nordstrom showed a 10.7% increase last month, while Federated jumped 7.7%.
Mass-market retailers such as Wal-Mart showed much slower growth, leading analysts to speculate over a broader slowdown.
Still, October sales could have been affected by the September boom, with consumers deciding to curb their spending after a spree.
Posted by Blacks on 09:59 AM | Comments (0)
October 09, 2006
Report: Retail Sales Continued Sept. Climb
Moderate weather and declining gas prices helped boost retail sales in September, according to a recent study by Retail Forward.
Same-store sales notched up 4% in the month, with apparel and accessory stores leading the way.
Sales are expected to continue to improve through the holiday season, showing a 5.5% increase over the same period last year. This is lower than the 7.2% gain seen last holiday season, however.
Posted by Blacks on 09:18 AM | Comments (0)
September 22, 2006
Louis Vuitton Opens In Nashville
Louis Vuitton is opening a 5,250-square foot store in Nashville’s Mall of Great Hills today. The new location will feature leather goods, women’s apparel and accessories.
Louis joins jewelry retailer Tiffany & Co. as two of the mall’s upscale brands. Both retailers see Nashville as a lucrative secondary market and predict a sales volume of $1,200 to $1,500 a square foot.
Posted by Blacks on 09:02 AM | Comments (0)
September 19, 2006
Holiday Sales To Grow 5%, NRF Says
Holiday sales are expected to grow 5% over last year to $457.4 billion, according to the National Retail Federation.
Although consumers have been discouraged by the housing slump and high gas prices, they are still expected to spend a little extra this season, the trade group said.
Holiday sales are normally measured from November to December, although retailers often register January sales when consumers use gift cards.
Holiday sales increased 6.1% last year to $435.6 billion.
Posted by Blacks on 09:26 AM | Comments (0)
September 13, 2006
Diesel Reopens Union Square Store
Diesel is unveiling its renovated Union Square store this evening, following its runway show in New York Fashion Week.
The 11,000-square foot store has been updated to showcase a product range that will appeal to Union Square visitors, such as more accessories.
In fact, the brand renowned for its premium denim is considering opening up accessories-only stores in the near future.
Diesel is also looking to expand its apparel offerings, and is reportedly negotiating with design house Viktor & Rolf to buy all or part of the company. Neither party has confirmed this deal, however.
Posted by Blacks on 09:27 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 on 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 on 09:27 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 on 10:54 AM | Comments (0)
July 14, 2006
Retail Sales Slip In June
Retail sales dipped a surprising 0.1% in June as consumers curtailed their spending in the face of higher gas prices and interest rate pressures.
The drop came as a bit of a shock to economists who had predicted growth of 0.4% for the month.
Despite the disappointing figure, June sales were still 5.9% higher than a year ago, ringing in at $363.8 billion.
Posted by Blacks on 09:24 AM | Comments (0)
July 11, 2006
Federated Sells Boston Landmark, Filene's
Federated Department Stores has sold its downtown Boston Filene’s property to Vornado Realty Trust for $100 million.
The first floor of Filene’s will be shuttered over the next few months, to make way for another big name retail player, such as Target or Kohl’s.
However, Filene’s Basement, located two floors below the flagship, has a different owner and will remain open.
Federated’s sale of Filene’s comes as part of a larger cost-cutting strategy to pair down its locations.
Posted by Blacks on 09:37 AM | Comments (0)
July 10, 2006
Report: Federated Mulls Mall Epicenters
Federated Department Stores is considering a new mall concept called “Epicenters,” where consumers can view and buy products from online and catalogue companies, according to a report out Monday.
Epicenters could potentially take up vacant space at mall locations and offer consumers a variety of shopping alternatives. As part of the concept, consumers would be equipped with handheld devices called “buy-pods” that would allow them to purchase items from Epicenter vendors.
Retail and entertainment entrepreneur Sheldon M. Gordon developed the Epicenter concept and could announce a deal with Federated soon, according to WWD.
Posted by Blacks on 07:28 AM | Comments (0)
July 06, 2006
Neimans Tests New Cusp Concept
Neiman Marcus is opening a series of contemporary, youth-oriented concept stores called Cusp. Four pilot stores will be opening in the next year, featuring traditional Neiman service in a smaller format.
Neimans is hoping to attract hip shoppers who may have overlooked their luxury flagships in the past. The stores will feature modern décor and merchandise will be displayed more organically, according to trend and color.
The chain is testing the idea by opening stores in different venues, such as in a traditional mall, an outdoor fashion mall and a street location.
The first Cusp will open later this month in McLean, Virginia, with locations to follow in Century City, Los Angeles, and Georgetown.
Posted by Blacks on 08:47 AM | Comments (1)
June 23, 2006
Gant, Jeffrey To Produce Exclusive Men's Line
All-American apparel maker Gant has teamed with New York retailer Jeffrey to introduce a menswear collection.
The line, which will feature updated classics such as button-downs and rugby shirts, will be available in November, exclusively at Jeffrey.
Gant’s partnership with the super chic boutique underscores the current popularity of the preppy look, particularly on the east coast. The pair are also considering producing an exclusive womenswear collection.
Posted by Blacks on 09:30 AM | Comments (0)
June 22, 2006
H&M To Open New Up-Market Chain
Swedish retailer Hennes & Mauritz plans to introduce a new store chain offering more expensive and fashion-forward merchandise.
The chain, due to open next spring, will operate under a different brand name, according to investor relations head Nils Vinge.
Vinge made the announcement after reporting that H&M rang in a 12 percent profit increase to $363 million during its second quarter, led by strong May sales.
As well as going up market, H&M is also planning to expand internationally. The retailer plans to enter China in 2007 with two new stores.
Posted by Blacks on 10:06 AM | Comments (0)
June 21, 2006
Marni Plans New Online Store
Marni has decided to take a full leap into e-commerce and will open the doors to its new online store in August or September.
Marni.com will be a partnership between the fashion house and e-retailer Yoox, which already sells Marni goods on its own site.
Yoox will provide the technology infrastructure, such as the payment software, as well as design the site’s look and navigation. The site will reportedly mimic the layout of Marni’s real world locations.
The online store will be run Carolina Castiglioni, the 25-year old daughter of Marni head Gianni Castiglioni.
Posted by Blacks on 08:58 AM | Comments (0)
June 20, 2006
Saks Saves Petites
Little ladies won a victory this week when Saks Fifth Avenue decided to reestablish its petite department.
Although the retailer just put an end to offering petite womenswear in January of this year, customer complaints convinced it to start restocking smaller sizes for fall.
Saks said that 32 of its 55 stores would begin offering petites in November, and that it would offer trunk shows featuring the goods in October.
The move will likely put pressure on other chains to keep the pace in petites.
Posted by Blacks on 09:06 AM | Comments (0)
June 14, 2006
Blacks's Take: Should Gap Go Designer?
Gap Inc. is the latest retailer to consider hitching its wagon to designer names in an effort to increase sales.
Gap Brand President Cynthia Harriss said last week that the chain is thinking about selling designer or co-branded apparel in its stores, following similar moves by mass-market players such as Hennes & Mauritz and Target.
While the strategy has been wildly successful for H&M and others, Gap should think carefully before trying on a designer strategy, according to Blacks Senior Consultant Steve Pruitt.
“There aren’t as many opportunities in desi