Rugged Bear is closing all 29 stores after more than 30 years of selling children's clothes throughout the Northeast. The liquidation comes after the struggling retailer announced it filed for Chapter 11 bankruptcy on Jan. 25. Going-out-of-business sales began in all stores on March 4 and will continue until all merchandise is sold.
Ann Taylor posted a bigger-than-expected quarterly profit on improved sales. The company, which said it'll change its corporate name to Ann Inc. to better reflect its multichannel focus, also forecast strong first-quarter sales. “Today, our company is far more than a traditional 'store-based' retailer,” stated Kay Krill, president and CEO. “We have two distinct brands — Ann Taylor and Loft — each of which operates across three channels and enables us to reach our client whether she is making her purchases at our stores, online or at our factory outlet
Bon-Ton Stores said its fiscal fourth-quarter profit climbed 6 percent. The department store chain said its net income rose to $85 million for the period ended Jan. 29, up from $80.3 million a year earlier.
The internet killed the music business, ruined the newspaper industry and has effectively brought the publishing world to its knees, and for years there's been speculation it would do the same to brick-and-mortar stores, as consumers began to flock online for their shopping needs.
Children's Place managed its merchandise better in the holiday fourth quarter, leading to fewer discounts and improved margins, an indication that the company had finally shrugged off its inventory problems.
Best Buy has confirmed it's testing tablets and POS apps during the launch of its "Connected Store" pilot program. Tablets being tested include the Apple iPad, Samsung Galaxy Tab and the Motorola Xoom.
With an estimated 122 million Americans planning to celebrate St. Patrick’s Day this year, there will be no shortage of parties or celebrations. According to the National Retail Federation’s 2011 St. Patrick’s Day Consumer Intentions and Actions survey, conducted by BIGresearch, 52.4 percent of Americans will celebrate the Irish holiday, up from 45.2 percent last year and the most in the survey’s eight year history.
Aeropostale announced that it's signed a licensing agreement with Montreal PTE Ltd., a joint venture between Apparel Group LLC and Jay Gee Melwani Group, to open approximately 25 stores across Singapore, Malaysia and Indonesia over the next five years.
Urban Outfitters reported that net income for the quarter ended Jan. 31 dipped slightly to $75 million, compared with $77 million in the year-ago period. For the full year, profit rose to $273 million from $220 million a year earlier. Fourth-quarter net sales rose 14 percent to $668 million.
Macy’s will help consumers unlock magical moments in-store this spring when they scan a code or send a text message with Macy’s Backstage Pass. A groundbreaking new initiative for the retailer, Macy’s Backstage Pass customizes QR code and SMS technology to deliver exclusive and engaging video content to users’ mobile phones.
