Remember all those reports that this past Black Friday was one of the best ever? It seems as if someone over exaggerated. Retail sales in November, and even the virtual shopping holidays of Black Friday and Cyber Monday, weren’t all they were initially cracked up to be.
A U.S. Commerce Department report issued Tuesday, as well as mounting empirical data from a variety of private-sector sources, revealed that November sales were below economists’ expectations, as sales at specialty, department and general merchandise stores rose modestly. A study by RetailNext, a firm that monitors traffic and buying at point of sale, even suggested that sales for Thanksgiving weekend were down, despite a Black Friday surge in department store sales and other mall anchors that elected to extend their hours to historic duration.
According to the Commerce report, apparel and accessories stores posted a seasonally adjusted increase of 0.5 percent to $19.1 billion in November compared with October, while sales at department stores inched up 0.3 percent to $15.3 billion. Sales at general merchandise stores, which include discounters and department stores, also increased 0.3 percent to $53.4 billion last month. The results included Black Friday and Cyber Monday sales, which are seen as barometers of consumer holiday spending.
Joel Waller President of Christopher & Banks
Christopher & Banks Corp. tapped former Wet Seal Inc. chief executive officer Joel Waller as president in a bid to revitalize the flagging chain. Waller, who guided Wet Seal from 2005 to 2008, will report to Larry Barenbaum, who remains CEO of the Minneapolis-based chain, but is giving up the title of president.
“Based on Joel’s extensive retail experience, coupled with his operational, product sourcing and management background, we believe that he will be highly effective in assisting us in revitalizing the business and getting the company back on track to profitability,” Barenbaum said.
Cavalli Brings Back Sunglasses
Roberto Cavalli is getting back to its roots. The Italian brand, which licenses its eyewear with The Marcolin Group, is relaunching sunglasses for both its namesake and diffusion collection Just Cavalli early next year. The new line marks a return to the fundamental aesthetics of the brand’s first eyewear collection, which was launched in 1999, said Marcolin style and licensing officer Maurizio Marcolin.
“All the aesthetic codes of the brand — such as the animal prints, the snake inspiration and goldsmith’s art — are now a leitmotif across all styles,” he said. “The collection has been very well received in the market for the new and original contemporary shapes complementing the sophisticated appeal of the Roberto Cavalli brand.” The collection will be available in Saks Fifth Avenue, Neiman Marcus and Nordstrom in February.
– Taneisha Jordan
Source & Photo: WWDSee the Top Ten Summer 2016 Trends for Women Over 40
Tags: Black Friday, Christopher & Banks Corp., Cyber Monday, eyewear collection, Fashion Headlines, Joel Waller, Just Cavalli, Just Cavalli eyewear collection, Larry Barenbaum, Roberto Cavalli, The Marcolin Group, Wet Seal Inc.