JoS. A. Bank to test tuxedo rental
Hampstead, Md. JoS. A. Bank Clothiers said Wednesday it will test a tuxedo rental business in 5% of its stores beginning in January, in an effort to expand its offerings to wedding parties.
Following the test, the company plans to roll out the rental service in more than half of its 474 stores in the spring. The company operates in 42 states.
Currently, the company sells, but does not rent, tuxedos. The rental service adds formalwear products and services that are commonly used by wedding parties and offers “one-stop shopping” to customers, the company said.
“These products complete our formal assortment,” said CEO R. Neal Black, in a statement.
The retailer said it will work with a national distributor that will own the inventory and deliver orders to the stores. The structure will add to its margins, but at a lower rate than merchandise sales.
“The business could eventually generate higher margins, if the company invests in its own infrastructure,” CFO David E. Ullman said in a statement.
Apple App Store continues to dominate market
CUPERTINO, Calif. Apple announced that more than three billion apps have been downloaded from its App Store by iPhone and iPod touch users worldwide.
“Three billion applications downloaded in less than 18 months–this is like nothing we’ve ever seen before,” said Steve Jobs, Apple’s CEO. “The revolutionary App Store offers iPhone and iPod touch users an experience unlike anything else available on other mobile devices, and we see no signs of the competition catching up anytime soon.”
iPhone and iPod touch customers in 77 countries worldwide can choose from a range of apps in 20 categories, including games, business, news, sports, health, reference and travel.
Disney to open in Times Square
PASADENA, Calif. Disney Store announced that it will set up shop in New York’s Times Square with a state-of-the-art, interactive retail destination set to open in fall 2010.
According to the company, Disney Store will incorporate technologically advanced displays including an interactive Disney Princess castle to serve as one of many magical centerpieces at the new Times Square location. The store will also include an all-new children’s theater will feature the latest Disney entertainment and classic animation.
“Bringing Disney Store to the center of Times Square is a monumental achievement, and we have created a retail experience that complements the energy and innovation that Times Square inspires,” said Jim Fielding, president of Disney Stores Worldwide. “We’re focused on reinvigorating retail and providing a unique shopping destination to millions of families from all over the world who travel to New York for a magical experience.”
“Disney’s bold move to restore 42nd Street’s greatest landmark theater in the 1990s was the turning point in Times Square’s recent history. We are thrilled that Disney is bringing its creative energies yet again to Times Square with this new Disney Store. An iconic brand is coming again to America’s most iconic place,” said Tim Tompkins, president of Times Square Alliance.