RETAIL

Gap Reports Gains

By Andrew Asch | February 6, 2017

Gap Inc. reported gains after posting sales results for its fourth quarter for its 2016 fiscal year and in January.

Herbert Fink, Rodeo Drive Founding Father, 93

Herbert Fink, one of the founding fathers of Rodeo Drive’s designer and high-end retail scene, died Feb. 18 at his home in Los Angeles’ Bel-Air neighborhood. He was 93.

What’s Checking: Beverly Hills Boutiques Thriving

What’s Checking: Beverly Hills Boutiques Thriving

Peppered around the corporate juggernauts on Rodeo Drive and department stores lining Wilshire, the boutiques of Beverly Hills take advantage of their intimate settings to thrive.

Gap Inc. Cuts 216 Jobs

Gap Inc. recently reported that it laid off 216 people at its corporate office in San Francisco.

Fashion Bookstore in the CMC Hosts Biannual Sale

The Fashion Bookstore<, located in the lobby of the California Market Center, will host its biannual sale Feb. 27–March 1 during the Los Angeles International Textile Show.

Althouse Closes Store, Rejoins American Rag

Jennifer Althouse rejoined prominent retailer American Rag Cie shortly after closing her self-named Althouse boutique in downtown Los Angeles in January. She will serve the retailer as an executive vice president.

Airport Retail Next Big Step for M.Fredric

For one store in the Los Angeles–headquartered M.Fredric chain, some of the busiest and most lucrative hours are between 6 and 9 a.m., long before most bricks-and-mortar retail stores are thinking about opening their doors.

The Wet Seal Goes on the Auction Block

Another California clothing venture is selling its brand after declaring Chapter 11 bankruptcy protection.

Nasty Gal Shuttering Los Angeles Operations With Sale to BooHoo

Online clothing vendor Nasty Gal will be spending the next two to three months winding down its Los Angeles operations after British-based fashion online retailer BooHoo won a $20 million bid to buy the company’s intellectual-property assets, trademarks and customer lists.

BCBGMaxAzria Outlines Store Closing Plan

Los Angeles–based brand BCBGMaxAzriaGroup, which has been weathering some tough financial times lately, has outlined its strategy for closing nearly 400 stores in its retail chain of 570 outposts.

Retail Sales Forecast To Increase in 2017, NRF Says

Business will be good in 2017, according to a forecast released Feb. 8 by National Retail Federation, the Washington D.C. trade group.

January Retail Sales Soar for Some, Plummet for Others

Zumiez Inc., the Lynwood, Wash.–based action-sports apparel and equipment retailer, continued its winning streak with strong retail sales last month. In contrast, Kearney, Neb.–based chain The Buckle Inc. continued to struggle in January. The company reported a 17.2 percent decrease in net sales to $43.9 million in January and a same-store-sales decrease of 17.6 percent.

Online Sales are Driving Retail Investment, Survey Says

Online sales were expected to capture 11.6 percent —or $394 billion—of all U.S. retail sales in 2016, according to a projection by Forrester research firm, but instead “digital touchpoints” commanded an estimated 49 percent of U.S. sales.

Wet Seal, Sears Announce Job Cuts

Irvine, Calif.–based retail chain The Wet Seal LLC notified the State of California’s Employment Development Department Jan. 23 that it is planning to cut 148 jobs.

Owen Exits Banana Republic

After a two-year run as president of Gap Inc.’s long-suffering Banana Republic division, Andi Owen will leave the company, according to a Jan. 24 announcement.

Previous