REAL ESTATE

Piperlime makes retail debut in SoHo

BY Staff Writer

New York — Gap Inc.’s Piperlime banner has opened its first full-scale retail location — at 121 Wooster St. in the SoHo neighborhood of New York City.

"We are thrilled to be celebrating the opening of our first Piperlime store today in SoHo," said Jennifer Gosselin, senior VP and general manager of Piperlime. "

The new 4,000-sq.-ft. store is styled as a boutique and features trend vignettes, as well as in-store kiosks that provide shoppers access to piperlime.com products.

"Today’s customers demand accessibility to their favorite brands across multiple channels," said Toby Lenk, president of Gap Inc. Direct, the Gap division that houses the Piperlime brand. "The benefit of being part of one of the world’s best multi-channel retailers is the ability to leverage the resources and experiences that have gone into creating the company’s unique and beloved shopping destinations, both online and in stores. We’re thrilled that Piperlime can now offer their customers the best of both worlds."

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FINANCE

Men’s Wearhouse profit up in Q2; raises full-year guidance

BY Katherine Boccaccio

Houston — The Men’s Wearhouse Inc. reported Wednesday that net income for the quarter ended July 28 rose to $59.4 million, from $57.1 million in the year-ago period.

Sales edged up 1% to $662.3 million, narrowly missing Wall Street’s expected $662.9 million in revenue. Same-store sales grew 4.4% at namesake stores, but fell 3.3% at K&G stores.

The company has raised its guidance for full-year 2012.

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FINANCE

Gymboree Corp. narrows loss in Q2; on track to open 115 stores

BY Katherine Boccaccio

San Francisco — The Gymboree Corp. reported Wednesday a loss of $14.1 million in the second quarter, compared with a loss of $6.9 million for the same period last year.

Sales rose 3.8% to $268.8 million, from $259.0 million last year, and same-store sales dipped 1%.

During fiscal 2012, the company reiterated its plans to open 115 new stores, including 90 locations for its value-priced Crazy 8 concept.

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