Marketing

Santa Monica, Calif. -- The Macerich Co. announced on Monday plans to acquire Kings Plaza, located in Brooklyn, N.Y., and Green Acres Mall, located in Valley Stream, N.Y., on the border of New York City and Nassau County. 

Kings Plaza is being acquired from a subsidiary of Alexander's for $751 million, with a closing date set for late 2012. Green Acres is being acquired from a subsidiary of Vornado Realty Trust for $500 million, with a first quarter 2013 closing date.

General Growth Properties’ Fashion Place shopping center in Murray, Utah, celebrated “Fashion Place Day” on Oct. 15 to commemorate the mall’s 40-year history.

A 15-ft. Mall of Memories wall marked the occasion, and was accompanied by a mayoral declaration and a week of special offers, giveaways, retro fashion shows and a mall-wide birthday party honoring 40 kids affected by cancer.

“We think Fashion Place looks fabulous for being 40,” said Natalie Watson, Fashion Place senior marketing manager.

Dallas -- Tuesday Morning Corp. on Monday reported a loss of $7 million for the quarter ended Sept. 30, widened from a loss of $5.7 million in the year-ago quarter.

The clearance retailer’s new CEO Brady Churches also announced the departure of executive VP and COO Michael Marchetti, a 12-year veteran of Tuesday Morning.

In the first quarter, the company saw revenue edge up 1.3% to $172.8 million and same-store sales increased 1.7%.

CLEVELAND — Greeting card maker American Greetings announced last week that its board has formed a committee of independent directors to consider an offer to privatize the company, reported the Associated Press.

According to AP, CEO Zev Weiss and his brother, president and COO Jeffrey Weiss, along with other investors and executives, submitted a proposal to the board on Sept. 25. The group wants to buy all of the company's common stock that it doesn't already own for $17.18 per share, valuing American Greetings at approximately $581 million.

By Bruce M. Cross, [email protected]

In the holiday rush, it's easy to overlook wage-hour issues. This article discusses common ones to which retailers should be alerted, including: temporary workers and independent contractors; unpaid interns and trainees; “off-the-clock” work, meal and rest breaks; seating requirements; cost of uniforms; workplace safety; and overtime exemptions.

Temporary workers

New York -- Ricky's has named Catherine Moellering, former executive VP at retail consultancy the Tobe Report, as president and CEO, Crain’s New York reported.

Todd Kenig, the former CEO who founded the beauty store chain with his brother Ricky, left the company early this year. He was replaced in the spring by Richard Krantz, who is no longer with the company.

Dallas -- Dave & Buster's Inc. said Monday it has named Kevin Bachus as its senior VP entertainment and game strategy, effective immediately.

Bachus is co-creator of the Xbox videogame console system. He joins Dave & Buster's from social network Bebo, where he was chief product officer.
 
In the newly created Dave & Buster’s role, Bachus will be responsible for driving the evolution from on-premise-based entertainment to multi-platform gaming, including mobile and online.
 

Seattle -- Outdoor gear and apparel retailer REI said Monday it has promoted Brian Unmacht to COO, expanding his role to oversee retail, e-commerce, merchandising, private brands, information technology and supply chain.

Unmacht started at REI as a store supervisor in 1986 and has risen through the ranks, most recently serving as executive VP over sales, service, store development and logistics.