Finance & Capital Management

Melville, N.Y. – Former founding partners of DJM Realty Andrew Graiser and Emilio Amendola announced Monday they have launched A&G Realty Partners, a commercial real estate consulting, advisory and investment group.

A&G will offer a comprehensive set of services that address both common and complex industry issues.

ALBANY, N.Y. — Trans World Entertainment has named John Anderson acting CFO, effective immediately. Anderson has served in positions of increasing responsibility at Trans World for over 18 years, most recently serving as controller since September 2006. Anderson will be replacing Tom Seaver who will be leaving the company to pursue other opportunities after a short transition period.

ROCKFORD, Mich. — Wolverine Worldwide reported slight revenue growth as it looks to build its portfolio with the acquisition of the Performance and Lifestyle Group from Collective Brands.

Wolverine Worldwide reported quarterly revenue of $312.7 million, an increase of 0.8% compared with the prior year's second quarter when revenue grew over 20%. 

Reported diluted earnings per share in the quarter were 42 cents, compared with prior year's earnings per share of 48 cents.

PLANO, Texas — JCPenney is cutting approximately 350 positions at its headquarters as part of its plan to restructure the company.

DALLAS — Tuesday Morning reported net sales for the fourth quarter ended June 30 of $196.4 million compared with $194.8 million for the quarter ended June 30, 2011, an increase of 0.8%. Comparable-store sales for the quarter ended June 30 increased by 0.2% compared with the same period last year, which was comprised of a 2.7% decrease in traffic and a 2.9% increase in ticket.

Boston -- A report released Tuesday by CB Richard Ellis found that, despite concerns about the pace of economic recovery and lukewarm employment growth, the U.S. commercial real estate market showed improvement across all property sectors in the second quarter of 2012.

Retail properties, which have generally lagged other property sectors during the recovery, saw a slight improvement in availability, which fell to 13% during the second quarter.

Los Angeles -- Private equity firm Brentwood Associates has acquired a majority stake in Sundance Holdings Group ("Sundance Catalog").

Sundance Catalog, founded by Robert Redford in 1989 and headquartered in Salt Lake City, Utah, is a multichannel direct marketer and specialty retailer of women's apparel and accessories, jewelry and home furnishings. Selling shareholders, including ACI Capital and Webster Capital, will retain a minority ownership stake, and the business will remain under the leadership of current president and CEO Matey Erdos.

Seattle -- REI (Recreational Equipment, Inc.) said Tuesday it will make its state debut in Kansas in fall 2013, with a new store in Overland Park, Kan., a suburb of Kansas City.

The 23,500-sq.-ft. REI Overland Park will be located at Prairiefire at Lionsgate. Approximately 50-60 new hires are planned.
 

Washington, D.C. -- Import cargo volume at the nation’s major retail container ports is expected to increase 1.6% in July compared with the same month last year, and modest year-over-year increases are expected through the holiday season shipping cycle, according to the monthly Global Port Tracker report released Tuesday by the National Retail Federation and Hackett Associates.

New York -- Supermarket operator Bi-Lo has installed insulated glass doors to previously open Hussman cases in three Bi-Lo stores in Tennesse. The retro-fit doors, RemiSafe, are from Remis America, a joint venture between, DEHCO, Inc., Elkhart, Ind., and Remis GmbH of Cologne, Germany.