Finance & Capital Management

Atlanta -- JLL announced the expansion of its management platform with the addition of Brett Earp as the new Southeast and Florida property management lead. Based out of the firm’s Atlanta office, he will partner with Atlanta Retail Market Lead John Bemis and Florida Retail Market Lead John Lambert to maximize the firm’s clients’ property values. He will be responsible for increasing or maintaining their net operating income by developing and executing strategic operational efficiencies.

Los Angeles -- Fast-casual pizza franchise PizzaReb has entered into a financing agreement with Wintrust Franchise Services to support the restaurant company’s growth.

“We’re eager to build on the growth momentum we’re experiencing with our customers and franchise partners, and the Wintrust fund will greatly support our strategic development goals,” said Rodney Eckerman, co-CEO and founder, PizzaRev.

Urban Outfitters Inc. set a record and beat Wall Street expectations with its sales for the fourth quarter and full fiscal year 2014.

Total net sales grew 12% to $1.01 billion from $905.86 million, setting a record for the company. Same-store sales, including direct-to-consumer sales, rose 6%. For the full year, total net sales increased 8% to $3.32 billion, from $3.09 billion, also another record. Same-store sales grew 2%. For both the fourth quarter and full fiscal year, strong growth in the wholesale segment helped push up total net sales.

Woonsocket, R.I. – CVS Health Corp. showed vitality with its financial performance in the fourth quarter and fiscal year 2014. Net income for the fourth quarter grew 5% to $1.32 billion from $1.26 billion.

Mississauga, Canada – Landlords holding the leases of Target Canada stores reportedly are requesting that Ontario Superior Court put Target Canada into full bankruptcy. According to the Toronto Globe & Mail, the move would remove control of liquidation of the company’s assets from Target and put it in the hands of a third-party trustee.

New York -- The fast-growing Michael Kors has opened its largest and most comprehensive location to date, a three-story, 22,000-sq. ft. flagship in the Soho section of Manhattan. The store features the debut of the men’s collection in the brand’s own retail stores, with the first-ever in-store presentation of men’s shoes and and an entire floor dedicated to accessories, and the first dedicated Michael Kors shoe salon. Huge, floor-to-ceiling video screens, set on all three floors, help bring the products to life.

New York -- Forever 21 opened a 36,000-sq.-ft. store on Manhattan’s Fifth Avenue, joining such other fast-fashion retailers already in the neighborhood as Uniqlo, H&M and TopShop.  

The four-level space houses all of retailer’s collections under one roof, including Forever 21 Men. The store is located in a building that formerly housed an H&M store, which closed in December when the retailer moved to a different location on Fifth and 48th Streets.

New York -- West Coast port congestion issues could cost retailers as much as $7 billion this year, according to an analysis by Kurt Salmon. Work stoppage threats and major trade associations’ calls for federal intervention have retailers and consumer products companies on high alert.