DATATRAC: Apparel Specialty Stores and Department Stores – November 2016

DATATRAC

Personnel Updates

• Gap Inc. announced its CFO Sabrina Simmons will leave the company at the end of its fiscal year.

• Hudson’s Bay Company announced Ed Burstell will join the company as Head of Partnerships.

• New York & Company Inc. appointed Michelle Pearlman as Exec VP, E-commerce and Chief Marketing Officer.

• Nordstrom Inc. announced its CFO Mike Koppel plans to retire next year. He will remain in his role through the spring of 2017.

• Sears Holdings Corporation announced that Jason Hollar has been promoted to CFO. The retailer also announced that Ryan Vero has left the company.

• Shoe Carnival Inc. announced Clint Pierce is joining as its VP, DMM Athletic Footwear. Mr. Pierce previously served as Senior VP, GMM Footwear and Apparel at The Sports Authority Inc.

Financial Focus

• American Apparel Inc. is preparing to file for its second bankruptcy.

• Finish Line Inc. is searching for a buyer for its JackRabbit chain of stores.

• Canada Goose Inc. announced it plans to go public.

• Nasty Gal Inc. has filed for Chapter 11 bankruptcy protection.

Mergers and Acquisitions

• Dick’s Sporting Goods Inc. announced it will acquire Golfsmith International Holdings.

Industry Insight

• Alton Lane is in the process of rolling out a text message service to shoppers who have previously bought from the company allowing them to order a custom-fitted suit.

• Charming Charlie Inc. has launched a new fragrance collection.

• Gap Inc. announced it will soon close all Banana Republic stores in the United Kingdom by the end of its fiscal year.

• J. Crew Group Inc. announced it is exiting the bridal business.

• Saks Fifth Avenue has opened its first standalone store dedicated exclusively to footwear. The new 10022-Shoe is located in Greenwich, CT. The 14,000 sq. ft. shop features women’s footwear, with a strong focus on emerging and advanced designers.

Real Estate

• Altar’d State announced it has opened a new location in the Mall of America in Bloomington, MN.

• Cartier Inc. has opened a 3,906 sq. ft. store at the Stanford Shopping Center in Palo Alto, CA, after closing a location there in 2011.

• JCPenney Company, Inc. announced the opening of a new two-level 119,000 sq. ft. store at The Inland Center in San Bernardino, CA.

• J. McLaughlin has announced plans to open a new 1,715 sq. ft. store in Scottsdale, AZ. It will be the company’s first store in the state.

• Luxottica North America announced it has opened its 1,000th LensCrafters store nationwide.

• L.L. Bean Inc. has opened a 15,000 sq. ft. store in Cincinnati, OH, at The Kenwood Collection mixed-use center.

• Macy’s Inc. announced it has sold five stores to General Growth Properties. The following locations are involved in the sale and will be closed by spring 2017: Carolina Place in Pineville, NC; Oakwood Mall in Eau Claire, WI; Quail Springs Mall in Oklahoma City, OK; Greenwood Mall in Bowling Green, KY, and Tysons Galleria in McLean, VA.

• Nordstrom Inc. has opened a new 37,000 sq. ft. Nordstrom Rack location on 12th Street in Washington, DC.

• North Face announced the opening of a new two-level 20,000 sq. ft. store on Manhattan’s Fifth Avenue.

• Primark USA plans to continue its expansion with a second location in Massachusetts. The new location will span 53,000 sq. ft. and is set to arrive this December at the Burlington Mall.

• Recreational Equipment Inc. announced it has opened a new 51,000 sq. ft. location in Washington, DC.

Technology News

• DSW Inc. has introduced pop-up shops at two locations that offer 3D-printed shoes. The Feetz@DSW shops have debuted at stores in San Francisco’s Union Square and on 34th Street in New York, featuring technology from Feetz.