Friday, July 31, 2020

Moncler to take control of its e-commerce operations

Retail Dive
Moncler on Monday announced it will manage its own e-commerce operations as part of a new digital strategy that aims to double its share of online business in the next three years. . . . more

Study: Brick-and-mortar shopping makes a comeback

CSA
COVID-19 continues to have a major impact on consumer spending, but bright spots include physical stores and food delivery.. . . more

Thursday, July 30, 2020

Bankrupt JCPenney Races Toward a Sale, Will Not Liquidate

Footwear News
Bankrupt J. C. Penney Company Inc. doesn’t plan to close up shop. . . . more

J. Jill to close stores as Q1 sales, profits plunge

Retail Dive
The apparel retailer reported a first quarter  . . more

Best Buy to close stores on Thanksgiving, jump-start holidays

CSA
Holiday deals will start early at Best Buy this year, but customers won’t have access to them in stores on Thanksgiving Day.. . . more

L Brands slashes 850 corporate jobs

CSA
The parent company of Victoria’s Secret is trimming corporate headcount as part of a larger $400 million cost reduction plan.. . . more

Wednesday, July 29, 2020

Under Armour discloses possible SEC action

CSA
Under Armour has been officially notified of a preliminary recommendation for the Securities & Exchange Commission (SEC) to file an enforcement action.. . . more

Lands' End issues 'going concern' warning as it looks to refinance debt

Retail Dive
With debt maturities looming next year, Lands' End acknowledged that there is "substantial doubt" about the company's ability to survive over the next 12 months.. . . more

Francesca's sees itself on 'right path forward' after COVID-19 hammered sales

Retail Dive
Apparel retailer Francesca's sounded an optimistic note while reporting Tuesday that sales fell 50% in the quarter ended May 2, during which its 700-plus stores were closed due to the COVID-19 pandemic.. . . more

Report: Sycamore closes in on J.C. Penney purchase

CSA
A private equity group is reportedly bidding $1.75 billion to purchase the bankrupt J.C. Penney department store chain.. . . more

Monday, July 27, 2020

Two longtime Foot Locker execs retire as part of organizational restructuring

Retail Dive
Foot Locker on Thursday followed Nike in announcing changes to its organizational structure "designed to foster greater agility and speed-to-act," according to a company press release.. . . more

Old Navy launches tween brand with PopSugar

CSA
Old Navy is teaming up with a leading young women’s lifestyle site to create a new product line aimed at 10-to-13-year-olds.. . . more

Here is the list of Ann Taylor, Loft, Justice store closings

CSA
Ascena Retail Group is reducing its store footprint from about 2,800 stores to some 1,200 stores.. . . more

Friday, July 24, 2020

Simon, Authentic Brands team up with offer for Brooks Brothers

CSA
The nation’s biggest mall owner is once again partnering to help save a struggling retailer.. . . more

Retail REITs may not recover until 2022, S&P says

Retail Dive
With their fates tied to an industry disrupted by COVID-19, retail-based REITs might not recover until 2022, according to a report released Wednesday by S&P Global.. . . more

J.Jill gets more breathing room — again

CSA
J.Jill has once again gotten more time to keep a potential bankruptcy filing at bay. . . . more

Thursday, July 23, 2020

Ann Taylor parent Ascena files for Chapter 11 bankruptcy

CNBC
The parent company of Ann Taylor and Loft, Ascena Retail Group, filed for Chapter 11 bankruptcy protection Thursday morning, marking the latest apparel maker to be pushed to the brink during the coronavirus pandemic. . . more

Neiman Marcus launches virtual hub as customers remain wary of indoor shopping

Retail Dive
Neiman Marcus on Tuesday announced the launch of "Your Neiman's," a digital hub offering personalized "luxury services and experiences," designed in part to help customers work around limits imposed by the COVID-19 pandemic. . . . more

Best Buy reports strong sales; raising starting wage

CSA
Best Buy Co. is on a roll, with its total second-quarter sales to date up over last year despite the disruption caused by the pandemic.. . . more

Wednesday, July 22, 2020

Sephora to cut 117 jobs in restructuring

Retail Dive
Sephora is cutting 117 full-time jobs, about 7% of its full-time corporate workforce, as part of a restructuring process, the company confirmed to Retail Dive on Monday. "A number" of those are corporate roles associated with Sephora's J.C. Penney partnership "to reflect the JCPenney store base reductions," a company spokesperson said.. . . more

Tuesday, July 21, 2020

Mall owner CBL prepping a Ch. 11 filing

Retail Dive
Mall owner CBL & Associates is prepping a Chapter 11 bankruptcy filing, Bloomberg reports, citing people familiar with the matter. A CBL spokesperson declined to comment to Retail Dive on the report.. . . more

Monday, July 20, 2020

Why used clothing can survive the global health crisis

Retail Dive
While resale has been around for years — through traditional thrift shops, Craigslist and eBay — the digital, mobile-focused platforms really took off in popularity last year. . . . more

Rue21 opening new stores as business returns

CSA
Rue 21 is expanding at a time when many specialty clothing retailers are downsizing.. . . more

Is the pandemic giving Gap Inc. one last chance?

Retail Dive
The pandemic is providing Gap Inc. with fresh opportunities, including rightsizing its brick-and-mortar fleet in confrontations with landlords over unpaid rent, growing its Athleta brand amid interest in athleisure and attracting value-minded customers to Old Navy as the economy falters, Wells Fargo analysts said Friday.. . . more

Macy's, Neiman Marcus look to resume exec payments as department store woes continue

Retail Dive
Macy's has resumed its equity bonuses for top executives after a protracted closure period, emergency financial measures and recently announced corporate staff layoffs. The awards going to more than a dozen executives were worth millions, including more than $3.6 million in company stock to CEO Jeff Gennette at the time of the award.. . . more

Friday, July 17, 2020

Retail Sales Beat Estimates as Shoppers Return to Stores — but Rising COVID-19 Cases Could Pose Threat

Footwear News
Shoppers were back in stores last month as retail sales posted a better-than-expected gain.. . . more

J.Jill in new bid to avoid bankruptcy

CSA

J.Jill has once again kept a bankruptcy filing at bay.. . . more

LL Bean inks first wholesaler partnerships in US

WHDH
L.L. Bean is expanding from its original model of direct-to-customer catalog sales and in-stores sales with an agreement to sell products in Nordstrom, Staples and sporting goods chain SCHEELS. . . more

Thursday, July 16, 2020

Neiman Marcus may close 4 stores for good

Retail Dive
As part of its bankruptcy process, Neiman Marcus may permanently close four stores, in Walnut Creek, California; Palm Beach, Florida; Bellevue, Washington; and Washington, D.C., according to a press release from A&G Real Estate Partners, which is marketing the leases in partnership with Neiman Marcus Group.. . . more

J.C. Penney to cut workforce by 1,000

CSA
J. C. Penney Company is reducing its workforce  on the heels of downsizing its store portfolio as it looks to emerge from bankruptcy.. . . more

Wednesday, July 15, 2020

With Fashion District back up, all PREIT malls are in business

CSA
PREIT’s most recently completed new project, Fashion District in Center City Philadelphia, was the last of its malls to re-open during the COVID-19 crisis.. . . more

Iconix Brand Group considers potential sale

Retail Dive
Iconix Brand Group is considering "strategic alternatives" for its business, including a potential sale, according to a document filed with the Securities and Exchange Commission. The company owns, markets and licenses a number of apparel companies including Ed Hardy, Starter, Umbro, Rocawear, Joe Boxer, London Fog and Material Girl. . . . more

Retail shrink at all-time high; rises more than $1 billion

CSA
Retail shrink  totaled $61.7 billion in 2019, up from $50.6 billion the year before, amid rising employee theft, shoplifting and organized retail crime (ORC).. . . more

Tuesday, July 14, 2020

In pandemic era, private equity-owned retail is as vulnerable as ever

Retail Dive
Combine two leveraged buyouts with $5 billion in debt. Add a pandemic. Stir. 
If anyone, for whatever reason, were in need of a recipe for retail bankruptcy, the above is as good as any. It was enough to send Neiman Marcus into court to seek relief. Two private equity buyouts, funded by billions in debt, led to years of distress and ultimately bankruptcy this year. . . . more

The 10 most valuable malls in America before the coronavirus pandemic

CNBC
Before the coronavirus hit, America’s most valuable malls were driving billions of dollars in sales annually, contributing hundreds of millions of dollars to local tax coffers. . . . more

Express: Sales, traffic improving

CSA
Express Inc. is seeing some light at the end of the tunnel after closing its stores due to the pandemic.. . . more

Monday, July 13, 2020

Parent company of New York & Company files for bankruptcy

CSA
RTW Retailwinds has filed for Chapter 11 bankruptcy protection with plans to close many, if not all, of its 378 stores.. . . more

Friday, July 10, 2020

Primark to open five new stores this year as it names its top-selling products post-lockdown

Plain Vanilla Shell
Primark has announced it will open five new stores this year, as the retailer revealed what people have been buying since it reopened last month.. . . more

DAVIDsTEA to close its retail stores in North America

Plain Vanilla Shell
DAVIDsTEA (DTEA -16.4%) accelerates its transition to online retailing and wholesale distribution in North America through a restructuring plan to return to profitability.  . . . more

Ascena preps bankruptcy plan that would close 1,200 stores

Retail Dive
Ascena Retail Group is preparing to file for Chapter 11 bankruptcy as soon as this week, according to a Bloomberg report that cited anonymous sources. Ascena did not immediately reply to Retail Dive's request for comment.. . . more

Thursday, July 9, 2020

Square One Mall Sears Closing, Leaving Void North Of Boston

Patch
The Sears that has been part of the Square One Mall for decades is in its final days, soon to be replaced by a massive entertainment complex on Route 1.. . . more

Malls in New York can reopen on Friday if their HVAC systems

CSA
Shopping malls in most of New York State can reopen on Friday as long as they meet certain conditions, specifically enhanced air-conditioning filtration systems.. . . more

Brooks Brothers files for bankruptcy

CSA
The nation's oldest apparel company is looking for a buyer.. . . more

Wednesday, July 8, 2020

After Warning of ‘Probable’ Bankruptcy, New York & Co. Parent Enters Forbearance

Footwear News
After defaulting on its loan, New York & Co. parent RTW Retailwinds has reached an agreement with lender Wells Fargo to enter forbearance until July 15.. . . more

Department stores miss out on Fourth of July consumer attention

Retail Dive
Several specialty stores held their own over the Fourth of July holiday week, thanks to aggressive price promotions, according to Wedbush, which used Google Trends search analytics for a Tuesday report that was emailed to Retail Dive. . . . more

Gap in new B2B business: making masks

CSA
Gap Inc. is going national with a new business-to-business division selling face masks.. . . more

J.C. Penney to permanently close two stores in New York City

CSA
J.C. Penney has revealed more details about its store closing plans.. . . more

Tuesday, July 7, 2020

Re-open, re-close, re-open: The newest video game in retail real estate

CSA
On July 1, Apple announced it would re-close 30 more stores it had already re-opened during the COVID-19 crisis. That brought the highly trafficked retail division’s list of stores it has re-closed to 77.. . . more

CVS thanks loyalty members with summer promotion

CSA
CVS is providing a little extra for participants in its ExtraCare loyalty program.. . . more

Thinking they’re undervalued, investors are snapping up REIT stocks

CSA
Big real estate investment firms the likes of Blackstone and Starwood are actively buying securities backed by real estate, the financial underpinnings of mall owners like Simon, PREIT, Kimco, and National Retail Properties, said a report in the Wall Street Journal.. . . more

Monday, July 6, 2020

With department stores disappearing, malls could be next

BBJ
The directory map for the Northfield Square Mall in Bourbonnais, Illinois, has three glaring spaces where large department stores once stood. Soon there will be a fourth vacancy, now that J.C. Penney is liquidating stores after filing for bankruptcy. . . . more

Lucky Brand files for bankruptcy with plan to sell itself

CSA
Lucky Brand Dungarees is hoping that a new owner will help revive its sagging fortunes. . . . more

Foot Locker CEO Dick Johnson Talks Inevitable Retail Changes and Hope In Post-Coronavirus Era

Footwear News
As the coronavirus crisis ravages the footwear business, top executives have had to make many tough decisions — from closing stores to staff layoffs.. . . more

Nordstrom tells landlords to expect just half their rent until January 2021

Retail Dive
Nordstrom June 3 notified landlords of its full-line and off-price Rack stores that it will pay only half the occupancy costs for the remainder of the year, according to a letter from President of Stores Jamie Nordstrom to property owners, which was obtained by Retail Dive. A Nordstrom spokesperson didn't immediately respond to Retail Dive's request for more information or comment.. . . more

Thursday, July 2, 2020

Is a New Mobile App Enough to Save Francesca’s From Bankruptcy?

Footwear News
After warning last month that it could go bankrupt, Francesca’s is moving forward with plans to launch its first mobile app. . . . more

Sephora enables direct purchase via Instagram

CSA
A beauty giant is taking a big step in social shopping.
Sephora is opening a digital storefront on the Instagram social platform with the Instagram Checkout feature. Initially released in closed beta in March 2019, Instagram Checkout enables customers to shop, make purchases and receive shipment and delivery notifications within Instagram.. . . more

Wednesday, July 1, 2020

Macy’s swings to Q1 loss; not expecting another full COVID-19 shutdown

CSA
With nearly all its stores reopened, Macy’s expects a gradual recovery after posting a big loss for the first quarter when its stores went dark due to the COVID-19 pandemic.. . . more

Gap, Kanye West announce Yeezy collaboration

Retail Dive
Gap Inc. on Friday announced a collaboration between its namesake brand and Kanye West's Yeezy apparel label. The Yeezy studio will design "basics for men, women and kids at accessible price points," the company said. . . . more