Its logo may be a heart, but there’s one brand that’s not feeling the love for Victoria’s Secret Pink: Thomas Pink. Not to be confused with the intimate apparel’s youthful line of pajamas and underthings, the London-based shirtmaker filed an infringement case against Victoria’s Secret after the retailer launched stand-alone stores in London last year.
In response – and in efforts to stop the case, which would potentially place US Pink boutiques in jeopardy – Victoria’s Secret submitted a declaratory judgement lawsuit in America to establish “the rights of the parties, allowing them to continue the peaceful coexistence that has been in place for many years.”
In a statement, the Thomas Pink spokesperson told Vogue UK, “Thomas Pink is determined to protect the considerable investment that has been made into building the world’s luxury leading shirt brand.”
Working in team VS’s favor, we already know its models – like Elsa Hosk (above) – are handy with boxing gloves, should the case get unwieldy.
Adam Levine and Victoria’s Secret Angel Behati Prinsloo are engaged, People reports. The singer’s rep released a statement today, saying, “Adam Levine and his girlfriend Behati Prinsloo are excited to announce they are engaged to be married,” adding, “The couple recently reunited and Adam proposed this weekend in Los Angeles.”
Adam and Behati began dating in May 2012 and split earlier this year. Soon after, Adam was briefly linked to another Victoria’s Secret model, Nina Agdal – they were spotted at the end of June on vacation together in Los Cabos, Mexico, where they played volleyball and relaxed by the pool with friends. Though Nina and Adam may have parted ways, it definitely looks like Adam and Behati have reunited for good. Congratulations to the happy couple!
LOS ANGELES, April 16 (UPI) — Australian supermodel Miranda Kerr, a married mother of a toddler, says she left Victoria’s Secret because being an underwear-clad angel was too time-consuming.
By Evann GastaldoMultiple reports indicate Miranda Kerr is on her way out as a Victoria’s Secret angel, but the reason behind the departure isn’t yet clear. Us reported yesterday that Kerr “has a difficult reputation,” as one source put it, and is “not a big seller” for the lingerie company. Multiple sources…
Both Ross and L Brands — formerly Limited Brands — reported stronger-than-anticipated March sales today, pushing the stocks up 7% and 5%, respectively, at midday. Both companies had strong points in their releases, and both seem set for a strong quarter, based on the sales so far this year. Ross went as far as to raise its quarterly guidance on the news.
Strong sales in Canada L Brands’ biggest success came from the increase it saw at its La Senza brand stores. The company had been fighting weak sales through 2012, and in March it saw a 7% increase in comparable sales at La Senza. Over the last year the company has focused on getting rid of underperforming stores at the Canadian chain, and last year the company shuttered 68 locations.
Helped by that 7% rise, L Brands posted an overall comparable sales increase of 3% in March. La Senza was actually the strongest brand in March. But a 9% drop in comparable sales online pulled the overall growth level down. Most of that decrease came from Victoria’s Secret sales, which were pulled down by a fall in apparel sales.
Discussing the results, management said that they were expecting a similar increase in April, in part from a shift in the Easter holiday, which should have a positive impact on results. Overall, L Brands — which really needs to hurry up and choose a new name — looks well set up to post a solid quarter.
Ross raises forecast Making the success at L Brands look tame, Ross went as far as to increase its earnings projection. The company said that it now expects earnings to be “slightly above” $1.04 per share. That increase is based on the 2% comparable sales increase in March. The company had been forecasting a 1% to 2% decline in sales.
Like L Brands, Ross is expecting a positive impact from the early Easter, with all the store closings coming in March, instead of April. That means that the company is expecting an even bigger increase in April, forecasting a 5% to 6% increase in comparable sales this month.
The bottom line Both L Brands and Ross are looking set up for a good year. The early increases in comparable sales should help the brands gain traction with consumers before moving into the second half of the year. I’ll be watching for 5% or more increases at both of these companies over the next few months.
The retail space is in the midst of the biggest paradigm shift since mail order took off at the turn of last century. Only those most forward-looking and capable companies will survive, and they’ll handsomely reward those investors who understand the landscape. You can read about the 3 Companies Ready to Rule Retail in The Motley Fool’s special report. Uncovering these top picks is free today; just click here to read more.
U.S. retailers are reporting modest sales gains for March as consumers held back due to cold weather during the month and continued worry about the economy.
Overall, 14 retailers reported on Thursday that revenue at stores open at least a year — a key indicator of retail health — rose an average of 0.6 percent. That number comes from the research firm Retail Metrics.
L Brands, formerly Limited Brands Inc., the parent of Victoria’s Secret and Bath and Body Works, says the revenue figure was flat, above analyst expectations for a drop, according to Thomson Reuters.
Costco Wholesale Corp.’s revenue figure rose 4 percent in March, short of expectations for a 5.2 percent rise.
Economists monitor consumer spending because it accounts for more than 70 percent of economic activity.
NEW YORK — U.S. retailers are reporting a key revenue figure rose slightly in March, as shoppers held back on spending because of the cold weather across the nation, particularly the Midwest and East Coast, and continued fears about the economy.
Overall, 14 retailers reported on Thursday that revenue at stores open at least a year — a key indicator of retail health — rose an average of 0.6 percent, according to research firm Retail Metrics. Including drugstores, the number was slightly higher, up 1.5 percent.
“While clearly that’s not a great number by any stretch, it could have been worse,” said Ken Perkins, president of Retail Metrics. “Wintry weather conditions persisted deep into March depressing spring apparel, home and garden, and seasonal merchandise sales.”
He expects April to be stronger, as the weather improves and customers respond to strong fashion trends such as colorful jeans. An earlier Easter, which meant one less selling day in March, will also help April results, he said.
The number of retailers reporting monthly sales figures has been shrinking. Big names like Target Corp. (TGT), Macy’s Inc. (M) and Nordstrom Inc. (JWN) have recently stopped reporting. Walmart Stores Inc. (WMT), the world’s largest retailer, hasn’t reported monthly sales figures in several years.
Revenue in stores open at least one year is a key measure of a retailer’s financial health, because it excludes stores that open or close during the year.
Retailers who do report had a mixed month, with those with more stores on the East Coast, where the weather was cold and wet, faring worse than stores on the West Coast.
TJX Cos. (TJX), which operates TJX and Home Goods stores, said revenue in stores open at least one year fell 2 percent, while analysts expected a 1 percent drop. The company said that the drop was due to the weather and the Easter shift, and they expect a stronger April.
“Overall business trends improved as the weather became warmer,” said CEO Carol Meyrowitz. “April is off to a good start, our inventories are in great shape, and we are seeing an enormous amount of desirable product in the marketplace.”
L Brands, formerly Limited Brands Inc. (LTD), the parent of Victoria’s Secret and Bath and Body Works, says the revenue figure was flat, above analyst expectations for a drop, according to Thomson Reuters.
Warehouse club operator Costco Wholesale Corp.’s (COST) revenue figure rose 4 percent in March, short of expectations for a 5.2 percent rise.
Department store operator Stein Mart Inc. (SMRT) said revenue at stores open at least a year dropped 2.8 percent in March, falling short of Wall Street predictions. The company said sales were hurt by cold
In celebration of her 32nd birthday (we know, 32 has never looked so good), we are taking a look back at an old photo of the supermodel. In this 2003 shot, we see Ambrosio at the Victoria’s Secret Fashion Show After Party, looking rather scantily clad in a risqué ensemble. The 5’9″ stunner is seen laughing in an off-the-shoulder top, matching white scarf and micro-mini skirt (but hey, if anyone can pull off a short hemline, it’s a Victoria’s Secret Angel). Ambrosio looks amazing here… and it’s pretty obvious that today, two children later, she still looks the same. We must find out this lady’s secrets.
Miranda Kerr has reportedly been let go from her coveted position as a Victoria’s Secret Angel.
According toUs Weekly, the Australian supermodel’s three-year contract with the lingerie brand, valued at some $1 million, was not renewed. Sources told the magazine that Kerr was “not a big seller,” unlike her colleagues Alessandra Ambrosio and Erin Heatherton.
That’s not to say Victoria’s Secret will drop Kerr altogether. Ed Razek, the company’s chief marketing officer, said that he’s already asked Kerr to walk in the 2013 Victoria’s Secret Fashion Show, telling Us, “We have no plans to stop working with her.” Another source pointed out that Kerr can still pose for the brand’s catalog, as models don’t need to be full fledged Angels to be featured in it.
So far there’s been no word from Kerr on the matter, and her Twitter bio still says she’s an Angel. We’ve reached out to representatives for both Victoria’s Secret and Miranda Kerr and will update this post when we hear a response.
Photo: Kerr walking in the finale of the 2012 Victoria’s Secret Fashion Show.
NEW YORK–(BUSINESS WIRE)– KKR today announced that affiliates and clients of KKR, including KKR Financial Holdings LLC (“KFN”) (NYS: KFN) , in partnership with Colonie Pacific, acquired Colonie Center (“Colonie” or “the Center”). Financial terms of the transaction were not disclosed.
Colonie is a 1.3 million square foot super-regional mall with over 113 stores that sit on 91 acres in Albany, New York. The Center, located directly off of I-87 at the intersection of Wolf Road and Central Avenue where an average of 117,000 vehicles pass daily, benefits from being in a high-traffic area and within two miles of the University at Albany. The property generates an estimated $245 million in retail sales, including anchors with specialty retail stores producing an estimated $400 per square foot.
Anchored by Macy’s, Boscov’s and Sears, the mall features a strong line-up of national retailers, including Aeropostale, American Eagle, Christmas Tree Shops, Express, Sephora and Victoria’s Secret. Colonie also has a 13-screen Regal Cinemas and a Whole Foods that is anticipated to open in 2014.
In 2007, Colonie Center underwent a significant renovation that incorporated a “lifestyle” retail component and an improved streetscape and attracted national destination tenants such as L.L. Bean, P.F. Chang’s and Cheesecake Factory.
KKR and Colonie Pacific, a partnership between Pacific Retail Capital Partners, Collarmele Partners and Peter Fair (Continuum Partners), plan to make additional capital investments and will also focus on attracting new tenants to the market.
Ralph Rosenberg, a Member of KKR and Head of the firm’s Real Estate group, stated: “Colonie is an institutional-quality asset with tailwinds from a significant recent renovation. With additional investment and a revamped leasing strategy, Colonie will be an even more attractive home for current and prospective retailers in Albany. The transition in ownership will be seamless for shoppers, and our goal is to make the shopping experience even better than it is today.”
Colonie is KKR‘s third retail real estate investment since 2011 and ninth overall. KKR‘s real estate investment team seeks to partner with real estate owners, lenders, operators and developers to provide flexible capital to respond to transaction-specific needs, including the outright purchase or financing of existing assets or companies and the funding of future development or acquisition opportunities.
Kirkland & Ellis LLP served as legal Counsel to KKR.
CBL Completes Acquisition of Remaining Interest in Kirkwood Mall in Bismarck, ND
CHATTANOOGA, Tenn.–(BUSINESS WIRE)– CBL & Associates Properties, Inc. (NYS: CBL) , today announced that it has completed the acquisition of the remaining 51% interest in Kirkwood Mall in Bismarck, ND.
In December 2012, CBL acquired a 49% non-controlling interest in Kirkwood Mall. In conjunction with the acquisition of the remaining interest, CBL assumed the $40.4 million non-recourse loan secured by the property, which bears a fixed interest rate of 5.75% and matures in April 2018.
“We are pleased to complete the acquisition of the remaining 51% interest in Kirkwood Mall,” commented Stephen Lebovitz, president and CEO of CBL. “The mall is a terrific addition to our portfolio and is experiencing positive trends, including double-digit increases in sales to over $400 per square foot in 2012. The center also provides meaningful opportunities to grow the income stream through rent gains from rollovers, occupancy improvements and ancillary income.”
Kirkwood Mall is located in North Dakota‘s state capital of Bismarck. The local economy has grown tremendously in recent years as a result of its proximity to the Bakken Formation. The state of North Dakota has the lowest unemployment rate in the country and is one of only a few states with a budget surplus. Bismarck’s unemployment rate is estimated to be less than 4%.
The mall is situated on 68 acres and serves a broad trade area with the nearest competition located more than 100 miles away. The 850,000-square-foot mall was originally developed in 1971 and was last renovated in 2002. The mall is anchored by Herberger’s, Keating Furniture, JCPenney, Scheel’s All Sport and Target and features a strong line-up of mall retailers and restaurants such as The Buckle, Chico’s, Justice, The Children’s Place and Victoria’s Secret. The mall was 88% occupied at December 31, 2012. Sales per square foot at the center have increased more than 15% to over $409 per square foot for 2012. The mall offers both near- and long-term growth potential with low in-place occupancy cost as well as lease-up opportunities.
About CBL & Associates Properties, Inc.
CBL is one of the largest and most active owners and developers of malls and shopping centers in the United States. CBL owns, holds interests in or manages …read more
By Barbara Thau, Contributor Sears’ fall clothing assortment will offer trendy fashions for the full-figure juniors shopper, feminized-military looks, and affordable, Victoria Secret-esque intimate apparel from exclusive lines such as Bongo, the Kardashian Kollection and Joe Boxer. …read more Source: FULL ARTICLE at Forbes Latest
Frequently cited stories of financial empires elicit romanticized notions of visionaries and thinkers ages ahead of their time — railroad barons, tech entrepreneurs, and colorful dealmakers. But making millions isn’t always sexy. YKK Group’s minted billions producing 90% of the world’s pants zippers. (Yeah, the YKK on your pants. Take a look, no one’s watching.) Berkshire Hathaway‘s GEICO pulls pre-tax profits larger than several African countries’ GDP. All on auto insurance. Making millions can be downright boring.
Enter Retail Opportunities Investment Corporation , a West Coast-focused real estate investment trust (REIT). ROIC‘s sex appeal is greater parts Talbots, and fewer Victoria’s Secret. It invests in necessity-based shopping centers — think grocers, banks, and pharmacies — in space-constrained markets with above-average incomes. On account of local market dynamics and consumer staple orientation, they’re perfectly boring, stable, cash-producing properties. Led by CEOStuart Tanz, a proven capital allocator with a penchant for distressed or under-performing assets, ROIC is designed to slowly, opportunistically build wealth.
Still a young company, the market‘s not quite hip to ROIC‘s promise. Recently acquired shopping centers are underperforming their potential on paper but should improve in short-order. Potentially dilutive share issuances — an issue I expect management to resolve — overhang ROIC‘s otherwise sterling prospects. That’s created an opportunity for us, today. Add a proven management team and unique strategic orientation to the mix, and we’ve got the makings of a nice package. That’s why I’m buying a position equal to 3% of my Real Money Portfolio.
What, and who, is ROIC? Just about three years ago, ROIC was little more than a pile of cash, a special purpose acquisition corporation (SPAC). Funded by a group of real estate investors, NRDC Capital, they recruited Stuart Tanz as CEO, and commissioned him with this REIT‘s raison d’etre — to accumulate a collection of hard-to-replace shopping centers in space-constrained markets. Since 2009, ROIC‘s bought 4.4 million square feet of gross leasable area for just about $900 million. Most of its 44 shopping centers are triple net leased (meaning tenants cover all the costs), with inflation-linked price adjustments. Anchor tenants sign for 15 to 20 year terms and comprise 50%-60% of a center’s revenue, and the remaining space is leased to “satellites,” smaller stores, for three to five years. These are sleepy, steady-as-she goes cash producers — the types that don’t typically come cheap.
Tanz’s investment approach is unique. A well-connected, value-oriented investor with 30 years’ experience, Tanz and ROIC‘s employees possess deep networks in West Coast domains. They employ their experience and connections to ROIC‘s advantage, acquiring properties in off-market transactions, a less efficiently priced corner of the market. Target buys take one of a few forms: a distressed asset facing foreclosure or debt maturities; longtime owner-operators looking to retire, and seeking a source of liquidity; or an under-managed, poorly tenanted, or improperly maintained property. Sometimes it’s a combination of the three. (Less frequently, they’ll buy a property that’s …read more Source: FULL ARTICLE at DailyFinance
Stocks appear headed for strong gains this morning. All three major averages ended slightly lower last week, but an apparent resolution of the banking crisis in Cyprus has set the table for gains today. The S&P 500 is within nine points of its all-time high.
A bidding war for Dell (DELL) has broken out. The company confirms that investor Carl Icahn and Blackstone Group have submitted separate letters of intent to make buyout bids. That would counter the effort by a group led by CEO Michael Dell to take the company private for $24 billion dollars. But if Mr. Dell falls short, he could lose control of the company he founded nearly 30 years ago. According to Bloomberg, the computer maker has said that the offers by Icahn and Blackstone may be preferable, meaning Michael Dell could be compelled “to sweeten his bid”.
CBS (CBS) is reportedly near a deal to buy half of the TV Guide Network. That would give CBS its first entertainment channel on cable. The network offers movies, TV show reruns, and infomercials, and is available in 80 million homes.
Twenty million dollars: That’s pocket change for a company like Apple (AAPL), but the company’s acquisition of WifiSLAM could help Apple overcome the snafu it faced last year after dumping Google’s (GOOG) mapping system in favor of its own flawed program.
A number of online reports say Microsoft (MSFT) is testing an updated version of its Windows 8 software. The changes are said to be largely cosmetic, but they’re aimed at overcoming complaints that Windows 8 is too confusing.
Limited Brands (LTD) has been an obsolete name for the apparel retailer for several years — ever since it sold a majority interest in its Express and Limited store brands back in 2007. The company’s main brands are now Victoria’s Secret, Pink, Henri Bendel, and La Senza Bath & Body Works. The new name is L Brands, at least temporarily. Its ticker symbol remains LTD.
And if you haven’t, you probably soon will, because Martha Hunt is the newest model for iconic lingerie retailer Victoria’s Secret.‘Learn’ more about 23-year-old beauty
By John JohnsonA new survey that ranks how well CEOs are liked by their own employees has only one woman among its 50 names, notes Vivian Giang at Business Insider . Sharen Turney of Victoria’s Secret is the only one to make it, and only then at No. 42. In trying to figure… …read more Source: FULL ARTICLE at Newser – Home
We scouted this week’s premiere party circuit for potential wardrobe malfunctions, and came up with some pretty risky results. (You’re welcome). On the “Spring Breakers” red carpet, Selena Gomez and Ashley Benson debuted in fashion far from Disney territory.
Naturally, a Victoria’s Secret swimwear launch saw comparable amounts of skin, most notably on recently-haloed Angel Karlie Kloss, and Toni Braxton appeared hot and bothered at a premiere of her own.
Karlie Kloss has finally gotten her wings. The model is now a bona fide Victoria’s Secret Angel, and she put her halo on display this week at the brand’s Secret Spring 2013 swim collection photocall in Los Angeles.
Kloss, flanked by veteran Angels Candice Swanepoel and Alessandra Ambrosio, posed for the cameras in a white knit top and a pink bikini. She also participated in this week’s #AskAnAngel Q-and-A session on Twitter, fielding fan’s questions about everything from her favorite actress (“I’m currently in love with Jennifer Lawrence,” she said) and her favorite colors to wear to the beach.
While Kloss has appeared in ads for Victoria’s Secret and walked in the brand’s annual fashion show not once, but twice, her official inclusion on the roster of Angels will doubtless mean big things for her career. Being an Angel is a little bit like a stairway to heaven in the modeling industry for a variety of reasons – not least of which is that Angels tend to be the highest-earning women in the business. On Forbes‘s list of the highest-paid models of 2012, six were current or former Angels.
Candice looked elegant in a crisp white sweater-and-cropped-pants outfit that accentuated her tiny waist and blonde hair. Her strappy black sandals added a bit of sex appeal to her tailored look. But if she was short on sultriness, her fellow model made up for it in spades.
Alessandra showed off what her mama gave her in a bright blue romper that complemented her mile-long legs. To call the onesie short would be an understatement; we are guessing there was some serious tush-on-chair contact when the supermodel sat down. Not that she did a lot of sitting in that outfit.
Amazon.com Inc. (NASDAQ: AMZN) and Apple Inc. (NASDAQ: AAPL) place so high on most customer satisfaction surveys that the repetition has made the conclusions commonplace. Unfortunately for several financially battered retailers, their stumbling has not been helped by their satisfaction grades. The trends, both good and bad, have extended to mobile e-commerce.
Research firm Foresee issued its “ForeSee Mobile Satisfaction Index: Holiday Retail Edition.” The results are not terribly different from the Foresee e-commerce data for the same period. Retailers who do well online also do well with mobile activity. Of the 25 companies included:
Amazon tops the list at 85, with Apple (83), and QVC (83) close behind. Rounding out the top five are NewEgg (80) and Victoria’s Secret (80).
Almost no one has heard of PC hardware and parts company NewEgg. The balance of the companies are well known. Amazon had better be at the top of the list, for its own sake, since it has no physical stores to speak of. QVC does not either, because its other medium for sales is television. Apple and Victoria’s Secret must just try harder, although the popularity of their products may get mobile e-commerce buyers to have positive views of the merchandise under any circumstances.
Retailers that are in steep decline, in general, do not do well in the Foresee results. The Sears division of Sears Holdings Corp. (NASDAQ: SHLD) rates just one spot from the bottom. Also-ran discounter Overstock.com Inc. (NASDAQ: OSTK) also does poorly, and troubled online retailer Gilt does very badly as well.
In the range of merely mediocre are Wal-Mart Stores Inc. (NYSE: WMT) and Target Corp. (NYSE: TGT), each of which have huge traffic and are among the top 50 most visited sites in the United States, according to Comscore. Their volumes of business are such that mid-tier performance in the Foresee survey probably does not hurt them much. Also in the middle of the rankings are Best Buy Co. Inc. (NYSE: BBY) and J.C. Penney Co. Inc. (NYSE: JCP), each of which needs to do better in e-commerce and in physical store activity to keep away from trends that already have caused questions about their viability.
On the whole, the companies that did poorly in the Foresee research cannot afford to.
Methodology: In a survey of more than 6,200 consumers collected during the peak holiday shopping season between Thanksgiving and Christmas, the retail juggernaut scored highest among 25 of the top mobile commerce companies. The report shows that consumer satisfaction with the mobile retail experience is improving, as the Index climbs two points since last holiday season to 78 on a 100-point scale.
A new survey that ranks how well CEOs are liked by their own employees has only one woman among its 50 names, notes Vivian Giang at Business Insider . Sharen Turney of Victoria’s Secret is the only one to make it, and only then at No. 42. In trying to figure… 
