Industry Updates: Apparel Specialty Stores and Department Stores – November 2015
Chico’s FAS Inc. named Shelley Broader as President and CEO, effective Dec. 1. She succeeds David F. Dyer, who will become Vice Chairman of the Chico’s board.
DSW Inc. announced that Roger L. Rawlins, Exec VP and Chief Innovation Officer, will succeed Michael R. MacDonald as CEO, who is retiring effective January 1, 2016.
Francesca’s Holdings Corp. announced it has named Laurie Hummel to the position of Exec VP, Chief Merchandising Officer effective Nov. 30.
Gander Mountain announced that Derek Siddons has assumed the role of President after the retirement of Michael J. Owens on Oct. 31. In addition, Gander Mountain announced the promotion of Jay Tibbets to Exec VP and COO, Lisa Schmidt to Exec VP Store Operations, Store Design and Development, and Eric R. Jacobsen to Chief Administrative Officer and General Counsel. The company also announced the hiring of Carissa Rollins as Senior VP and CIO and Brian D. Kohlbeck as Senior VP and CFO to succeed Robert J. Vold who retired.
JCPenney Company, Inc. cut 300 jobs at its Plano, TX, headquarters.
L.L. Bean announced it hired Stephen Smith as its new CEO. Smith will take over his duties in January, replacing Chris McCormick.
Lululemon Athletica announced its Chief Product Officer, Tara Poseley, has left the company. The retailer expanded the responsibilities of CFO Stuart Haselden and he now adds the title of Exec VP Operations. The company has also initiated a search to fill the newly created position of chief supply chain officer. The company created the new role of Creative Director and named Lee Holman to fill it. Lululemon also promoted Tom Waller from VP to Senior VP of its innovation group and named Miguel Almeida Exec VP Digital.
Macy’s Inc. has named Frank Blake, recently former Chairman and CEO of Home Depot, to its board of directors.
Ross Stores, Inc. announced that Brian Morrow will join the company as President and Chief Merchandising Officer, dd’s DISCOUNTS effective December 7, 2015.
Signet Jewelers Limited announced that Uta Werner has joined the company as Signet Chief Strategy Officer.
The Bon-Ton Department Stores Inc. named Nancy A. Walsh to the position of Exec VP, CFO.
Vince named Brendan L. Hoffman as CEO, effective immediately.
Mergers and Acquisitions
American Eagle Outfitters has acquired Tailgate Clothing Co., which owns and operates Tailgate, a vintage, sports-inspired apparel brand, and high-end men’s wear label Todd Snyder New York. American Eagle hopes to open as many as 200 Tailgate stores at universities nationwide, and sell American Eagle jeans alongside Tailgate’s retro tees.
Bass Pro Shops is reportedly exploring a bid to acquire Cabela’s.
Fossil Group, Inc. has agreed to acquire Misfit, a maker of wearable devices.
Genesco Inc. announced that it has entered into an agreement with the Aldo Group Inc. to acquire the Little Burgundy retail footwear chain in Canada. Genesco plans to retain Little Burgundy’s head office and store-level employees following the completion of the acquisition.
Aeropostale Inc. announced the opening of the company’s first store in Ireland. Through a licensing agreement with Shuz 4 U International Ltd., Aeropostale will open at the Liffey Valley Shopping Centre in Dublin.
City Sports Inc. announced that they have begun going-out-of-business sales at all 18 retail locations.
Kate Spade & Company plans to open a new store on London’s Regent Street in 2016. As the brand continues to expand internationally, this store marks it’s fourth specialty store in the United Kingdom.
Lands’ End plans to open two holiday pop-up shops, one in New York and one in Boston.
Lord & Taylor plans to start an off-price chain for its namesake brand. The first Find @ Lord & Taylor store is expected to open on Nov. 19 in Paramus, NJ, in a 30,000 sq. ft. space. As many as six additional stores are scheduled to open next year.
Macy’s Inc. has signed an agreement with Luxottica North America to bring LensCrafters to as many as 500 Macy’s department stores in the United States over the next three years. LensCrafters plans to open its first Macy’s location with a new site-specific concept in April of next year, with the goal of opening approximately 100 locations by the end of 2016.
Mango will close 450 sales outlets early next year after ending a five-year deal to display its clothing lines at JCPenney stores.
Tommy Bahama Group opened a Tommy Bahama Restaurant Bar & Store in Honolulu on Oct. 30. The three-level, 19,200 sq. ft. flagship is located at 298 Beachwalk Dr.
The Bon-Ton Stores Inc. recently announced that it will close its Elder-Beerman stores in the Huntington Mall in Huntington, WV, and the Lima Mall in Lima, OH. The company will not renew these leases, which terminate Jan. 31, 2016. Additionally, the company announced the closing of its Bon-Ton store in the Carousel Center in Syracuse, NY, upon its scheduled Feb. 28, 2016 lease termination.
Escada has opened its very first boutique in Atlanta at Lenox Square.
Kohl’s Corporation plans to open five to 10 new stores next year in a smaller 35,000 sq. ft. prototype, aimed at underserved areas. Kohl’s also plans to open 10 to 15 stores dedicated to its proprietary Fila brand in outlet malls across the country. Additionally, the retailer will open two more Off/Aisle by Kohl’s off-price locations in 2016.
Saks Fifth Avenue OFF 5TH will open a new store within the Congressional Plaza shopping center located in Rockville, MD. The 40,000 sq. ft. store is expected to open in fall 2016.
Skechers USA has opened its second location in Times Square. The new outlet is located in the heart of the busy area, on what’s known as the Bow Tie.
Sundance will open its newest store in Dallas, TX. The store, located in NorthPark Center, will open on Nov. 12.
Victoria’s Secret plans to open a 64,000 sq. ft. store on the corner of Fifth Avenue and 51st Street in New York, NY next fall.
Retailers including Neiman Marcus, Bloomingdale’s, Under Armour, Bergdorf Goodman, and Urban Outfitters announced they will offer ChargeItSpot kiosks (free phone charging stations) in select stores.
Express is partnering with 17 specialty men’s apparel brands to launch a new e-commerce site. The exclusive online-only shop will launch on express.com beginning October 2015 and will feature brands including Creative Recreation, Havaianas, Timex, Robert Mason and more. Product categories will include footwear, watches, bags & small leather accessories, electronics, small accessories & giftables and jewelry. The site will also curate picks from Express’ in-house stylist as well as branded editorial content ranging from suit fit guides and interview tips to podcasts and cocktail recipes.
Tommy Hilfiger announced new virtual reality technology in its stores. Using a Samsung GearVR device, shoppers will have an immersive virtual experience that creates the impression of sitting live in the front row at a runway show.