By Deborah Belgum | April 18, 2016
After 57 years in business, Southern California sporting goods retail chain Sport Chalet is closing all stores and shuttering its online business.
As many boutiques were anticipating the winter holiday retail season winding down, made-in-Los Angeles brand Avocado was just getting started. It opened its first store on Dec. 22.
The reports for the 2016 holiday retail season are in, and the news is mixed.
The holiday retail season ended up being good for the apparel business, according to a statement released by MasterCard Spending Pulse on Dec. 28, the market research group tracks spending in the MasterCard payments network.
The Retail News of 2015
After months of negotiations, the former owners of the edgy and hip Oak NYC stores have reached an agreement to buy back their small retail chain from American Apparel.
Retail on the high-end streets around the Los Angeles area are starting to buzz with shopping crowds not seen since the economy took a dip in 2008.
Gap Inc.’s operations are impressive. The San Francisco–headquartered retailer says that its product is sold in 3,300 company-owned stores across the globe. In 2014, its net sales were $16.4 billion.
Nordstrom Inc. has been hard at work in Southern California in 2015. Nordstrom opened a new full-line shop at Del Amo Fashion Center this year and announced two other new full-line stores.
Kitson, the boutique chain that pioneered high-end shopping on Los Angeles’ Robertson Boulevard and pop-culture retailing, is going out of business, according to a statement sent by the retailer’s public-relations representative.
made a debut during the year.
The era of the computer-chip card was formally started on Oct. 1. On that day, banks and credit-card companies notified retailers that they would only be responsible for fraud losses on EMV computer-chip cards, which cannot be hacked by fraudsters, according to supporters of the technology.
2015 was the year of new beginnings for Wet Seal. After more than 20 years of acting as a public company, the Foothill Ranch, Calif.–headquartered juniors retailer went private.
Omni-channel was the tech buzzword of 2012. In 2015, the retail tech world was focused on “Big Data,” or through feeding extremely large sets of data into computer algorithms, then finding trends and patterns, which might forecast what kind of denim consumers will purchase.
Retail sales are forecast to spike a week before Christmas, but until then many retailers face a period of doldrums waiting for consumers to show up at physical stores or online.
L Brands Inc. posted great sales on November, the start of the holiday retail season.