Finance & Capital Management

LEXINGTON, Mass. — Collective Brands Performance and Lifestyle Group has announced the appointment of Rick Blackshaw as president of the Keds brand. Blackshaw has extensive footwear experience with brands including Converse, Timberland, and the former division of Reebok, Avia, and most recently served as VP and general manager for the Chuck Taylor All Star Division of Converse Inc. He will start in his new role Jan. 24 and succeeds Kristin Kohler Burrows who recently departed the position to pursue career opportunities closer to her home in New York. 

New York City -- Coach Inc. reported Tuesday that net earnings for the quarter ended Dec. 31 rose 15% to $347.5 million, compared with $303.4 million in the year-ago period.

Sales increased 15% to $1.45 billion, beating Wall Street’s expected $1.43 billion in revenue.

London -- A report released Tuesday by Bloomberg said that U.K. clothing chain Bonmarche will close as many as 160 out of 390 stores after its owner Peacock Group sold the chain to an affiliate of Sun European Partners.

KPMG administrated the transaction; the new buyer said that about 2,400 of 3,800 jobs will be retained.

The report said that KPMG had been seeking a buyer for Bonmarche since being appointed earlier this month as administrator to Peacock, which also owns Peacock’s Stores Ltd., a U.K. discount apparel chain.

Chattanooga, Tenn. -- CBL & Associates Properties announced that in 2012 it will complete multimillion dollar renovations at four market-dominant CBL Malls, with projects scheduled for Cross Creek Mall in Fayetteville, N.C.; Post Oak Mall in College Station, Texas; Turtle Creek Mall in Hattiesburg, Miss.; and Mall del Norte in Laredo, Texas. 

The renovations are expected to be completed by the end of 2012.

Jacksonville, Fla. -- Regency Centers announced it has closed on the acquisition of its first New York property, the 141,382-sq.-ft. Lake Grove Commons, for $72.5 million with its co-investment partner First Washington Realty.

Located on Long Island, Lake Grove Commons is a Class A property anchored by the only Whole Foods Market in Suffolk County along with LA Fitness and Petco. Built in 2008, the center is fully leased to six national tenants.

New York City -- Prudential Douglas Elliman's Retail Group said it has arranged a long-term lease at 1225 Madison Avenue for Poulet Rose, the recently launched tween division of young girl's fashion and accessories brand Pink Chicken.  

The current lease represents the brands' first standalone store in New York City, with only one other, a Pink Chicken, located in Amagansett. 
 

Covington, La. -- Stirling Properties announced it has acquired Shreveport, La.-based Avant Properties, strengthening Stirling’s presence in the Gulf South.

Avant Properties’ current personnel and portfolio will be integrated into Stirling Properties operations. 

New York City -- Apple stores around the world are pulling in an annual average of $4,709 sales per square foot, CNN Money reported.

While a handful of super-high-end luxury retailers with limited floor space in New York City and foreign capitols may do better, Apple’s numbers make it by far the most valuable chain in the United States. Apple’s closest chain competitor is Tiffany & Co., which garners an average of $2,974 per square foot, according to the report.


 

Oak Brook, Ill. -- McDonald’s Corp. reported Tuesday that consolidated revenues for fiscal 2011 rose 12% to a record-high $27 billion. The restaurant chain also said that global same-store sales increased 5.6% for the year ended Dec. 31, with positive comps across all geographic segments for every quarter.

"During 2011, McDonald's continued momentum drove higher profitability and market share gains as we fortified our leadership position around the world," said McDonald's CEO Jim Skinner.

Dallas -- Tuesday Morning Corp. reported Monday that net income for the quarter ended Dec. 31 fell 8% to $15.9 million.

Revenue for the quarter dipped 2.2% to $273.1 million.

Investors were prepared for the news because the company previously reported the lower revenue figures earlier this month.