Finance & Capital Management

Springfield, Va. -- PREIT announced that Springfield Town Center in Springfield, Virginia, has recorded $505 PSF in sales for tenants less than 10,000 sq. ft. open during the center's first full year of operation, 18% above the company's portfolio average as of September 30, 2015.

The newly redeveloped 1.35 million sq. ft. regional mall was acquired by PREIT March 2015 and celebrated its grand re-opening in October 2014 after undergoing a dramatic renovation and rebranding.

The former president of Trader Joe's has created a supermarket concept in the Boston area that offers fresh, healthy food at affordable prices. Now just a few months since opening, the store boasts over 300 customers visiting daily and has begun to look into expanding with a second location in the Boston area. [Food World News]

Houston -- Baker Katz announced the sale of a 2.12-acre property with an existing 13,000 sq. ft. office building located in Houston, near the cross streets of U.S. Highway 59 N and West Little York Road.

Baker Katz principal Kenneth Katz made the announcement.

Dollar General’s nearly 13,000 stores will be closed on Christmas Day, but the retailer is offering an enticing online discount in hopes of making a digital connection with shoppers.

Mahwah, N.J. – It took close to a year, but Ann Inc., owner of the Ann Taylor and Loft banners, has followed the wishes of major shareholders including Engine Capital LP and Red Alder LLC and agreed to an approximate $2.15 billion buyout from specialty apparel rival Ascena Retail Group Inc. Ascena, whose store brands include Lane Bryant and Dressbarn, will acquire Ann Inc. for $47 in cash and stock per share, a 21% premium over Ann Inc.’s May 15 closing price.

On the heels of naming a new CEO, Tuesday Morning Corp. has appointed a new finance chief as well.

The company named Stacie Shirley as executive VP, CFO and treasurer, effective January 18, 2016. Most recently, she served as senior VP - finance and treasurer of the Neiman Marcus Group. She started at Neiman Marcus in 2001.

Prior to Neiman Marcus, Shirley served in various positions with CompUSA.

Tuesday Morning recently names a former board member, Steve Becker, as its new CEO.

Dov Charney, the founder and ousted CEO of American Apparel, continues with his efforts to regain control of the company. But with the chain slated to emerge from bankruptyc in mid-January, time is running out, Bloomberg reported.

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Forever 21 is growing its its lower-priced format, F21 RED.

The chain has opened three new stores, with locations in Brooklyn, New York; San Diego, California and Kendall, Florida. The Brooklyn store is 35,000 sq. ft., while the San Diego and Kendall locations are more than 20,000 sq. ft.

Forever 21 launched F21 RED, which carries merchandise for men, women and children, in the first quarter of 2014. There are currently more than 20 F21 locations in the United States.