Kleinfeld Bridal to open in Hudson’s Bay flagship in Toronto
New York — Kleinfeld Bridal, the iconic New York bridal retailer and star of the hit reality show “Say Yes to the Dress,” will open a 20,000-sq.-ft. salon in Hudson’s Bay’s flagship location in downtown Toronto in early 2014. The Hudson’s Bay Company has exclusive rights to the brand in Canada.
"We are so happy to bring the leader in bridal fashion, Kleinfeld Bridal, to Hudson’s Bay, and to Canada," said Bonnie Brooks, president, Hudson’s Bay Company. "Bringing Kleinfeld to Canada further supports our overall product differentiation strategy for Hudson’s Bay, which is to deliver new, relevant and exclusive brands and concepts to the marketplace. This incredible partnership will further our position as Canada’s headquarters and leading destination for gift registry, and now for designer bridal wear.”
According to a report by The Globe and Mail, Kleinfeld Bridal will assist in training staff for the Toronto store, which will be operated much the way Hudson’s Bay runs Top Shop stores within Hudson Bay stores.
“No big store like the Bay has ever undertaken to do bridal the way they’re going to do it with us,” said Ronald Rothstein in the report.
Founded in 1941, Kleinfeld operates a 35,000 –sq.-ft. flagship salon in Manhattan’s Chelsea area.
Children’s Place begins 2013 in time out
The nation’s leading specialty retailer of children’s apparel issued a dour outlook for the first quarter of 2013 after a strong finish to 2012.
The company said sales for the 14 week fourth quarter increased 11.3% to $509.2 million and same store sales increased 4.3%. Earning per share increased 32% to $1.15, 11 cents better than analysts forecast.
Full year sales grew 5.5% to $1.8 billion and same store sales increased 2%, securing Children’s Place status as the largest children’s specialty apparel retailer in North America. The company ended last year with 1,095 stores after opening 64 stores and closing 18 others.
Despite a solid finish to the year, Children’s Place forecast first quarter results well below its prior year performance. Citing unfavorable weather and a weak economic environment, the company said it expected first quarter same store sales to decline in the high single digits and said earnings per share would range from 60 cents to 65 cents, far below earnings per share of $1.14 produced in the first quarter the prior year.
The company’s 2013 full year earnings per share forecast of $2.90 to $3.10 is also below the $3.23 in earnings per share the company just reported. The full year profit forecast assumes negative low-single digit same store sales.
Report: Wegmans looking to open in Boston
New York — Wegmans is looking to open its first location in Boston, according to a report on Boston.com.
The company reportedly is seeking to open at the Landmark Center, an office and retail complex that is being redeveloped. Wegmans anticipates that an agreement for the site will be reached “in the near future,” the report said.