By Andrew Asch | November 19, 2015
In California, Macy’s will be unveiling huge remodels of some of its stores.
Forever 21 said it will be closing its 120,000-square-foot store in San Luis Obispo, Calif., in January and laying off scores of employees.
Zara stores seem to be in every major U.S. city, but its more-upscale sister store, Massimo Dutti, had been a stranger to this country.
Classic styles with a touch of fashion have been the mainstay of J.McLaughlin, a small specialty-store chain founded in New York by two brothers in 1977.
Solid growth is forecast for the upcoming holiday season, but don’t count on seasonal cheer coming from retail economists and analysts.
On. Nov. 11, Macy’s Inc. reported a 3.6 percent decline in same-store sales for its third quarter. As a result the giant retailer revised its sales and profit forecast for its Winter Holiday sales in the fourth quarter, which sent retail stocks reeling. Sales for the retail giant’s third quarter were $5.874 billion.
American Apparel filed for Chapter 11 bankruptcy protection in early October, but it still must report its revenues and earnings for the third quarter, ending Sept. 30. In a preliminary filing, the troubled Los Angeles clothing company said its third-quarter sales plummeted 19 percent to $126 million, compared with nearly $156 million in the same period last year.
Two years ago, American Apparel founder Dov Charney snapped up a small high-end specialty-store chain called Oak. With Charney ousted last year as the company’s chief executive and American Apparel now in bankruptcy, the struggling Los Angeles clothing company has decided to shutter its Oak stores to save money.
Business for most retailers fell short of Wall Street forecasts, according to analysts such as Ken Perkins of Retail Metrics, a Boston-area market-research firm.
Oaktree Capital Management, the Los Angeles–based investment firm, is ramping up its effort to buy Quiksilver Inc. out of bankruptcy.
The plan to build a Caruso Affiliated retail center on the banks of a lagoon in Carlsbad, Calif., has hit a snag. On Oct. 27, opponents of the project gathered enough signatures to put the project up for a vote by Carlsbad’s residents after the signatures were verified by San Diego County’s Registrar of Voters.
Real estate companies Blatteis & Schnur and ASB Real Estate Investments redeveloped parts of Abbot Kinney Boulevard in Los Angeles’s bohemian Venice district, and the companies will take their know-how to another redeveloping neighborhood with the reputation of attracting creative people.
Simon-owned mall Stanford Shopping Center announced 25 retailers will move into a new section of the Palo Alto, Calif., mall.
September was a frustrating month for fashion retailers.
Financial woes throw American Apparel into bankruptcy court.