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Finance & Capital Management

  • Canada’s Future Shop consolidating under Best Buy banner; 66 stores to close

    Burnaby, Canada -- Canada’s Future Shop will soon be a thing of the past. Best Buy announced it is consolidating its Future Shop division, and the chain’s namesake stores and Future Shop stores will all operate under the Best Buy nameplate. As part of the consolidation, 66 Future Shop stores will be closed, effective March 30. Also, 65 Future Shop locations will be shuttered for one week to transition to Best Buy.

  • U.S. shopping center occupancy rate hit six-year high

    New York -- The death of the mall has been highly exaggerated, according to data released Monday by the International Council of Shopping Centers and the National Council of Real Estate Investment Fiduciaries. Among the highlights: Shopping center occupancy rates were 92.7% at the end of 2014, the highest level since second quarter 2008, according to data released Monday. Occupancy was even higher for the mall segment (combined super-regional and regional malls), at 94.2% at the end of 2014, the highest since the end of 1987.   

  • Ann Taylor exec is the new chief at Justice

    Ascena Retail Group has named Brian Lynch, a 35-year fashion and retail industry veteran, as president and CEO of its Justice stores<span style="color: rgb(54, 54, 54); font-family: open_sansregular, Arial, Helvetica, sans-serif; fo

  • Stirling Properties to develop Offices at Mid-City Market

    New Orleans -- Stirling Properties has completed the development financing and will soon launch construction on the Offices at Mid-City Market, a 54,000-sq.-ft., mixed-use complex in the Mid-City neighborhood of New Orleans.

    The Offices at Mid-City Market will feature approximately 31,000 sq. ft. of office space along with 9,000 sq. ft. of retail and restaurant space. The building design will include parking, additional green space and water management. Prior to closing the construction loan, the building was nearly 50% pre-leased.

  • Ex-Macy's exec to join Christopher & Banks board

    Christopher & Banks Corp. has named a former Macy's executive to its board of directors.

  • American Apparel’s Dov Charney seeks $40 million in damages as chain’s loss widens

    New York -- There is no let up of bad news for American Apparel. The company’s founder and ousted CEO, Dov Charney, plans to file a lawsuit claiming $40 million in damages related to breaches of his employment contract.

    The disclosure came on the heels of news that the Securities and Exchange Commission has opened an investigation into the circumstances surrounding Charney’s departure.

  • Report: RadioShack, creditors back Standard General bid

    Fort Worth, Texas – RadioShack is reportedly asking a bankruptcy court to approve a roughly $160 million bod from Standard General LP that would keep 1,743 stores of the retailer’s roughly 4,000 stores open. According to the Wall Street Journal, the Standard General bid also the backing of the official committee of RadioShack’s unsecured creditors.

  • Report: Amazon.com may buy Net-a-porter

    Forbes is reporting that Amazon.com is in the preliminary stages of a deal to buy luxury retailer Net-a-porter, which could be its biggest acquisition ever according to the magazine.

    Seattle-based Amazon has been making moves to expand its presence in the world of upscale fashon retailing by increasing its luxury apparel offerings.

    Swiss-owned Net-a-porter has been valued at $2 billion euro.

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