News

34th America’s Cup defenders to don Banana Republic apparel

BY CSA STAFF

SAN FRANCISCO — Banana Republic has been named the formal attire supplier for Oracle Team USA as it defends its title at the 34th America’s Cup in San Francisco Bay in Sept.

"It’s an honor to be associated with Oracle Team USA, the local champion defending the America’s Cup in our hometown, and wardrobe the team with formal suits and dresses from Banana Republic," said Banana Republic global president Jack Calhoun, referring to the retailer’ roots in San Francisco, where it was founded 35 years ago. "It’s exciting for Banana Republic and Oracle Team USA to celebrate this partnership together here in San Francisco."

Banana Republic is also leveraging social media to cross-promote the partnership, inviting fans of its apparel as well as of the race to “join the conversation on Twitter” by using hashtags #OracleTeamUSA and #AmericasCup. When the hashtags, which are followed by fans of either the race itself or the U.S. team specifically, appear on @BananaRepublic, it allows the retailer to reach out to new potential shoppers. Banana Republic, therefore, is enticing a potentially new audience onto its e-commerce site and brick-and-mortar stores by showcasing its line on the U.S. team members and cementing itself as a brand in the digital space.

Banana Republic can be found in more than 650 company-operated and franchise retail locations in the United States, United Kingdom, Canada, Japan, Italy, France, Asia, Eastern Europe, Latin America and the Middle East.

Oracle Team USA won the 33rd America’s Cup in February 2010, and team owner Larry Ellison got to bring the cup home. Led by CEO Russell Coutts and skipper Jimmy Spithill, Oracle Team USA is made up of the best international sailing, design, build and support talent.

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REAL ESTATE

Saks to open Off 5th in Atlanta

BY Staff Writer

New York — Saks Fifth Avenue Off 5th announced that it plans to open a new store in Atlanta, Georgia on July 18.

The 28,000-sq.-ft. store will be located in the Outlet Shoppes at Atlanta at Woodstock.

The store will be the third Saks Fifth Avenue Off 5th in metropolitan Atlanta, but will be the first store to be modeled after the company’s “luxury-in-a-loft” store design, which highlights the merchandise and facilitates easy shopping.

The modern and uncluttered layout includes an open floor plan, moveable fixtures and bright lighting.

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FINANCE

Tuesday Morning Q4 sales up 2.9%

BY Staff Writer

Dallas — Tuesday Morning Corp. reported that its fiscal fourth-quarter revenue rose 2.9% to $202.1 million. Same-store sales for the period ended June 30 increased 4.6%.

The discounter Tuesday Morning Corp. said traffic climbed 6.2%. The average receipt fell 1.6%.

The retailer’s full-year revenue was up 3% to $838.3 million from $812.8 million. Same-store sales rose 3.9%.

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