Industry Updates: Apparel Specialty Stores and Department Stores – August 2015
The Bon-Ton Department Stores Inc. has hired William Tracy as its COO.
City Sports Inc. announced Marty Hanaka as the new CEO.
Foot Locker, Inc. announced the appointment of Pawan Verma as Senior VP and CIO.
JCPenney named Michael Amend as Exec VP Omnichannel and Mike Robbins as Senior VP Supply Chain.
Recreational Equipment Inc. has promoted Julie Averill to the role of CIO.
Neiman Marcus Group has filed plans for an initial public offering. The company said it would trade under the ticker symbol NMG.
Mergers and Acquisitions
Grafton Fraser Inc. has acquired all 35 Jones New York retail stores across Canada. Grafton Fraser plans significant growth in the number of stores for the Jones New York brand in the near future.
The TJX Cos. Inc. has signed a definitive agreement to purchase Trade Secret, an off-price retailer that operates 35 stores in Australia.
Bluestar Alliance LLC has acquired the Limited Too brand trademarks. In addition to standalone stores, in-store shops and e-commerce sales, Limited Too merchandise also will be sold through partnerships with department stores.
Charming Charlie has opened the brand’s first locations outside of North America with two new retail stores in Dubai.
Destination Maternity Corp. has opened an A Pea in the Pod shop-in-shop at Harrods, the iconic Knightsbridge department store in London.
ModCloth made its bricks-and-mortar debut on July 30 in San Francisco, CA. The new store is located at 222 Grant Ave. in Union Square.
Belk Inc. is opening a new 230,000 sq. ft. flagship location at The Shoppes at Bel Air in Mobile, AL. Construction is scheduled to begin in January 2016, with a completion expected for fall of that year.
Dick’s Sporting Goods Inc. opened a new Field & Stream store located at Patton Creek in Hoover, AL.
DSW is opening 22 stores this fall, including six locations in new markets.
Forever 21 Inc. will launch its spinoff brand F21 Red in the Canadian market this fall. The brand will make its Canadian debut in Windsor, ON, in October, followed by a second store in Ottawa in November. The company expects to expand the brand in the market with 20 to 30 stores over the next five years.
H&M is expanding its COS brand. The retailer plans to open four stores in the United States in 2015, starting this fall. COS will open in South Coast Plaza in Costa Mesa, CA, on Newbury Street in Boston, MA and in River Oaks District in Houston, TX. COS is also expanding into Canada, with stores set to open in both Montreal and Toronto later this year.
J. Crew will open its second J. Crew Mercantile store at The Mayfair Collection in Wauwatosa, WI, by the end of the year.
L.L. Bean plans to open a store outside of Kansas City, KS, later this year.
Saks Inc. announced it will open a new 23,527 sq. ft. Saks Off 5th store at 6 S. State St. in Chicago, IL in the spring.
Saks Inc. is going to open a freestanding shoe store in Greenwich, CT, in fall 2016. The store, whose name has not yet been revealed, will be located close to an existing Saks Fifth Avenue store, which will no longer sell shoes.
Uniqlo will open a 12,000 sq. ft. flagship store in Faneuil Hall Marketplace in Boston, MA in October.