Monday, August 31, 2020

J.C. Penney expands curbside pickup

CSA
The struggling department store retailer is bringing its “Style on the go” omnichannel shopping program
to more stores.. . . more

Friday, August 28, 2020

How Sephora prepped for an e-commerce onslaught

Retail Dive
Sephora has an annual sale event in the spring. Loyal shoppers plan their hauls, and brands sold by the retailer promote it like Amazon's Prime Day or Nordstrom's Anniversary Sale. But this year, the sale had a significance in ways brands and shoppers may never know.. . . more

Abercrombie swings to Q2 profit; digital sales a bright spot

CSA
Despite falling net sales, Abercrombie & Fitch had some good news in Q2 fiscal 2020.. . . more

Thursday, August 27, 2020

Lord & Taylor expands closing sales to all stores

CSA
The country’s oldest department store is inching closer to shuttering all its stores.. . . more

Wednesday, August 26, 2020

A look back at the long history of Lord & Taylor

Retail Dive
With Lord & Taylor adrift once again, in search of a buyer that might be willing to turn back years of neglect, it's easy to forget that the department store was a cutting edge retailer for well more than a century.. . . more

CBL plans to file for bankruptcy by October after deal with lenders

Retail Dive
CBL Properties has made a restructuring deal with a majority of bondholders that calls for a Chapter 11 bankruptcy filing on Oct. 1, according to a press release.. . . more

Mall of America misses another mortgage payment, enters forbearance agreement

 CSA
After having missed three mortgage payments, Mall of America’s collateral value has slipped from $2.3 billion to $1.9 billion, and it has entered into a forbearance agreement that would provide it with
enough 
cash to avoid foreclosure, according to a report in the Minneapolis StarTribune.. . . more

Monday, August 24, 2020

L Brands warns that the holidays could be tough this year

Retail Dive
With most stores reopened after closing due to the pandemic, Victoria's Secret weighed down L Brands in the second quarter, when net sales fell 20% to $2.3 billion. Bath & Body Works sales rose 13%, thanks to 191% growth in e-commerce, with sales at company-owned stores in the U.S. and Canada falling 23%. Victoria's Secret sales fell 39%, with sales at the company-owned stores falling 70% and e-commerce up 65%.. . . more

Sally Beauty, CosmoProf launch accelerator for women-owned brands

Retail Dive
Sally Beauty and CosmoProf debuted the second iteration of Cultivate, an accelerator for women-owned brands looking to expand their nail, hair color and hair care ventures. The program is accepting applications until Sept. 7.. . . more

Friday, August 21, 2020

The strategy behind turning department stores into warehouses

Retail Dive
Fulfillment for e-commerce requires three times the warehousing space of traditional brick-and-mortar store inventory, given the greater variety of SKUs and space-intensive shipping and parcel operations. With e-commerce growing in the pandemic, supply chain players are scooping up space where they can find it, especially if it's close to areas with high population density.. . more

Lord & Taylor still looking for new owner; closing more stores

CSA
The country’s oldest department store retailer is still looking for a white knight even as more of its stores are going dark.. . . more

Thursday, August 20, 2020

Men’s Wearhouse, Jos. A. Bank retailers launch BOPIS

CSA
Two store banners of Tailored Brands are introducing free buy-online-pickup-in-store (BOPIS) programs.. . . more

CBL initiates Chapter 11 restructuring and plans to 'continue as normal'

CSA
CBL Properties, one of the nation’s largest owners of enclosed malls in secondary markets, will file for Chapter 11 bankruptcy protection in concert with a pre-made restructuring agreement with its lenders that will keep all of its 108 properties open and operating. . . more

Gap permanently closes some stores in San Francisco, including flagship

CSA
Gap Inc. is shrinking the store portfolio of its namesake brand in its hometown.. . more

Wednesday, August 19, 2020

J. Jill, Destination XL added to S&P's most vulnerable retailers list

Retail Dive
S&P Global Market Intelligence added J. Jill and Destination XL to its list of most vulnerable publicly traded retailers.. . . more

Tuesday, August 18, 2020

When the mall owns the retailer

Retail Dive
Bankruptcy court has emerged as a shopping mecca of sorts for Sparc Group, which, after successfully bidding on a series of retailers in Chapter 11, is now the "operating partner" for Aeropostale, Forever 21, Lucky Brand and Brooks Brothers, and is a rumored suitor of J.C. Penney. The venture says it supports "over $2.7 billion in global retail sales annually.". . . more

Monday, August 17, 2020

Can Neiman Marcus finally leave its baggage behind after bankruptcy?

Retail Dive
The story of Neiman Marcus and MyTheresa follows broader storylines in the retail industry.. . . more

Done Deal: Simon – Authentic Brands buy another retail brand

CSA
The retail portfolio of the joint venture between Simon Property Group and brand management company Authentic Brands keeps expanding.. . . more

Thursday, August 13, 2020

PREIT executes $30 million term loan following poor Q2

CSA
A day after reporting a 36% decrease of $18.6 million in the second quarter, mall owner PREIT announced it has executed a secured term loan for up to $30 million to shore up its liquidity as the COVID-19 pandemic draws on.. . . more

Wednesday, August 12, 2020

Placer.ai: Macy’s, Penney, Dillard’s recoveries stall with pandemic resurgence

CSA
Recoveries in the department store sector have been stymied by a resurgence in COVID-19 cases leading to a reversal of the positive trends seen in May and June.. . . more

Saks Fifth Avenue lays off store operations employees

Retail Dive
Saks Fifth Avenue is laying off an unspecified number of store operations employees, as part of a strategy to streamline and evolve, a company spokesperson confirmed on Monday.. . . more 

Simon’s Q2 net operating income was 42% lower than in 2019

CSA
Impacted by the mandated closing of seven properties in California in July, Simon Property Group saw its net operating income drop to $254 million in the second quarter—42% less than the $437 million it took in during Q2 2019. . . . more

Monday, August 10, 2020

Why Foot Locker Shares Are Surging Double Digits Right Now

Footwear News
Shares of Foot Locker Inc. jumped as high as 23% in Monday premarket trading following the release of an unexpectedly upbeat forecast for its second-quarter profit and sales.. . . more

Amazon reportedly eying former Sears, J.C. Penney stores as fulfillment centers

CSA
Amazon might be looking at giving a second life to some dark Sears and J.C. Penney stores.. . . more

Thursday, August 6, 2020

Macy's enlists influencers for its 'Style Crew'

Retail Dive
Macy's is opening its Style Crew ambassador program up to beauty and fashion enthusiasts. The initiative, which the retailer launched in 2018, was previously only available to Macy's employees, according to a company statement emailed to Retail Dive. . . . more

Capri, Ralph Lauren quarterly results indicate widespread damage to apparel sales

Retail Dive
As apparel retailers buckle under intensified pressure brought on by the COVID-19 outbreak, several that cater to middle-income and budget-minded consumers have turned to bankruptcy and other restructuring measures. But quarterly results from Ralph Lauren and Capri in recent days demonstrate that clothing companies selling to higher-income customers aren't immune to its fallout, either.. . . more

J.C. Penney lenders reportedly looking for higher bids

CSA
The bids that have come in for bankrupt J.C. Penney are reportedly lacking a bit.. . more

Frye Will Shutter All of Its Stores as it Moves to Digital

Footwear News
All of Frye’s stores are slated to shut down for good.. . . more

Wednesday, August 5, 2020

Express ‘encouraged’ by early Q2 results

CSA
Express provided an upbeat assessment of its second-quarter results to date. . . . more

Lord & Taylor to permanently close 19 stores

Retail Dive
Lord & Taylor, whose parent company filed for bankruptcy on Sunday, released plans to permanently close 19 locations, including six in New York State, three in Connecticut, two each in Maryland and Massachusetts, and one each in Florida, Illinois, Michigan, New Jersey, Pennsylvania and Virginia.. . . more

Bankrupt parent of New York & Company sells e-commerce businesses

CSA
New York & Company will continue to do business, if only online.. . . more

Tuesday, August 4, 2020

These Men’s Wearhouse Stores Are Closing for Good

Footwear News
As owner Tailored Brands moves forward with bankruptcy proceedings, Men’s Wearhouse is set to permanently shut down dozens of stores across the country.. . . more

Chico's declares bankruptcy in Canada

Retail Dive
Chico's FAS Canada on Thursday filed for bankruptcy with the Ontario, Canada, office of the Superintendent in Bankruptcy, according to a filing with the U.S. Securities and Exchange Commission.. . . more

What the pandemic has done to Nordstrom's revamp

Retail Dive
Nordstrom began the year with high hopes.. . . more

Monday, August 3, 2020

Lord & Taylor Is Bankrupt as Retail Rout Continues

Footwear News

Lord & Taylor is bankrupt. After months of speculation, the struggling department store chain as well as its parent company Le Tote today became the latest fashion players to file for Chapter 11 bankruptcy protection — in the U.S Bankruptcy Court in Richmond, Va. Bloomberg News first reported the move this evening.. . . more