Aeropostale opens first UAE store
New York City Aeropostale said Tuesday that it opened its first store in the United Arab Emirates, as part of the company’s plan to expand to more than 20 stores in the Middle East.
The Dubai store in the Oasis Centre Mall is Aeropostale’s first venture outside North America, but the company said it hopes to have locations in Kuwait, Bahrain, and Qatar and elsewhere in the United Arab Emirates over the next few years.
“This new venture in Dubai will enable us to introduce the Aeropostale brand in new markets overseas and lay the groundwork for what we believe can be a greater expansion of the brand globally,” chief executive Julian R. Geiger said in a statement.
Aeropostale has partnered with Apparel Group to open and run its Middle East mall-based stores.
The retailer, which reported an uptick in earnings earlier this month, has managed to stay above the fray during the recession by focusing on low prices and planned discounts.
If the shoe fits
Target has teamed up with designer Trish Carroll to launch a limited-edition footwear collection called Miss Trish of Capri that will be available in stores for four months, beginning April 5.
“The Miss Trish of Capri collection brings classic chic to any warm weather ensemble,” said Target SVP Trish Adams. “Now women across the country can add these easy-to-wear, glamorous styles to their wardrobe without the wallet sting.”
Prices range from $29.99 to $34.99 on footwear styles that include vibrant color sandals and wedges with jewel embellishments. Miss Trish is going to need great design and attractive prices to persuade women to make what is essentially a discretionary purchase, but credit Target with providing them the opportunity to do so.
Target’s partnership with Trish Carroll shwos that just because consumers are in a funk and reluctant to spend money on anything other than food and consumables doesn’t mean retailers can afford to stop appealing to their discretionary tendencies.
Lowe’s CEO earns $7.9 million
Robert Niblock, the CEO of Lowe’s home improvement stores, received a total compensation package of $7.9 million in 2008, according to a filing with the Securities and Exchange Commission. The company paid Niblock $1.1 million in salary, with the remainder coming from stock and option awards, a non-equity incentive plan and other types of compensation.
Niblock received nearly $6.15 million in total compensation in 2007.
The Mooresville, N.C.-based company will hold its annual meeting on Friday, May 29, in Charlotte, N.C.