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Quiksilver said Thursday its reorganization plan had been approved in court and the company should emerge from bankruptcy in early February. The surfwear retailer filed for Chapter 11 bankruptcy protection in September. In October the company received court approval for a $175 million financing package with Oaktree Capital Management.
Coach seems to be achieving the nearly unattainable in retail: giving a brand that was cheapened by years of discounts its luster back. The handbag maker reported on Tuesday that net sales rose 7 percent to $1.27 billion in its second fiscal quarter ended Dec. 26, buoyed by growth in China and its men’s lines. More importantly,…
What with little movement among its winter outerwear and handbag inventory, and sliding quarterly sales overall, department stores have had their fair share of struggles recently. In order to adapt to the changing market, Macy's has tapped beauty franchise (and Sephora's biggest competitor) Bluemercury, launched a shop-in-shop concept with Korean beauty e-commerce pioneer Peach & Lily,…
L Brands’ lingerie chain Victoria’s Secret is being sued for copyright infringement by Debra MacKinnon, the principal of intimate apparel company Zephyrs and inventor of a kidney-shaped silicone bra insert. The suit, filed Jan. 25 in U.S. District Court for the Southern District of New York, says that MacKinnon came up with the idea for the…
Getting its sunglasses out of gas stations was a key first step. Nowadays, Ray-Ban sunglasses can be found selling for as much as $300 at high-end stores like Nordstrom and Neiman Marcus. The brand recently opened its first ever flagship store, a sleek emporium in the heart of Manhattan’s shopping mecca, SoHo. And if you walk around…
French couture house Chanel’s global CEO is ending her nine-year tenure with the company. On Jan. 27, the day after the brand’s haute couture runway show in Paris, Women's Wear Daily reported that Maureen Chiquet would be stepping down from her position. While the loss of Ms. Chiquet may require some adjustments, this change in leadership…
Eric Springer isn't happy, mostly because he believes that Amazon.com let a nefarious type get at his account. In a blog over at Medium, Springer revealed that he was the victim of a "social engineering" hack that exposed his details to an unnamed third party. With just a rough idea of Springer's location and his…
New York-area retail vets Ronny Shmoel and Albert Liniado are betting that the third time will be a charm for Circuit City. The duo, now working under the name Circuit City Corp., acquired the brand, domain and associated trademarks in October from IT supplier Systemax, which bought them in a bankruptcy auction but abandoned the U.S. retail channel…
With one of its biggest partners shrinking the number of stores it operates, Under Armour is making an aggressive bid this year to control its own future. The Baltimore-based athletic wear brand will open a whopping 200 stores in 2016, said Under Armour Founder and CEO Kevin Plank in a keynote speech at the annual National Retail…
Staples Inc. is laying off hundreds of workers at its Framingham, Mass. headquarters, a move that analysts said suggests the company is preparing for the likelihood its planned merger with Office Depot Inc. won’t win regulatory approval. The job cuts were confirmed by a current employee and a former employee, both of whom asked for anonymity…