FINANCE

Casual Male net income slides; to speed rollout of DestinationXL

BY Katherine Boccaccio

Canton, Mass. — Casual Male Retail Group said Friday that second-quarter profit dropped to $1.2 million, from $6.6 million in the year-ago period. Total sales were flat at $100.5 million, and same-store sales edged up 2%.

However, continuing strength from the DestinationXL stores vs. the Casual Male XL locations is prompting the company to focus on growing the former.

“We are accelerating our roll-out strategy and more aggressively opening DXL stores and closing our traditional Casual Male XL locations," said president and CEO David Levin. "We now plan to complete our roll out of 225 to 250 DXL stores by the end of fiscal 2015. To support the transition to DXL, we are undergoing a paradigm shift in our approach to improve awareness of DXL and fully capitalize on the concept.”

In 2012 so far, Casual Male has open 13 new DXL stores and said it is on track to have 51 DXL stores operating by year end.

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FINANCE

Foot Locker profit and sales rise in Q2

BY Staff Writer

New York — Foot Locker reported Friday that net income for the quarter ended July 28 rose to $59 million, from $37 million last year.

Sales increased 7.2% to $1.37 billion this year, compared with $1.27 billion in the prior year. Same-store sales increased nearly 10%.

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News

Nordstrom introduces iPad app

BY Katherine Boccaccio

Seattle — Nordstrom said Friday it has debuted a new iPad app that will allow its customers to browse and purchase merchandise via their iPad tablets.

The company said it plans to introduce additional features and functionality with subsequent updates to the free app. Some of the features included with the debut include “The Dressing Room,” which allows customers to create and save multiple looks by double-tapping or dragging items to the Dressing Room canvas, then adding selected items to the shopping cart for purchase; a customizable home page; and social sharing via Facebook, Twitter or email.

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