Marketing

SUFFERN, N.Y. — The Ascena Retail Group will acquire Charming Shoppes Inc., parent company of Lane Bryant, for about $890 million.

The move gives Ascena -- which owns the Dressbarn, Maurices and Justice chains -- entry to the steadily-growing large-size women's clothing market. In addition to Lane Bryant, Charming Shoppes also owns the Fashion Bug and Catherines Plus Sizes banners. It operates more than 1,800 stores nationwide. In 2011, nearly 85% of Charming Shoppes’ sales involved plus-sized apparel.

Minneapolis -- Target said it will open its new smaller format concept, CityTarget, at the Beverly Connection in Los Angeles, in March 2013. The 99,000-sq.-ft. will be located on the second floor of the shopping complex, at the corner of La Cienega and Beverly Boulevard.

New York -- Winick Realty Group announced that it has hired Kenneth Hochhauser to join the company’s executive team as executive VP to assist in both tenant and landlord representation.

Hochhauser joined Winick Realty on May 1 following a long tenure at Newmark Knight Frank, where he ultimately held the position of senior VP.
 

Suffern, N.Y. -- The Ascena Retail Group said Wednesday it will acquire Lane Bryant parent Charming Shoppes Inc. for about $890 million.

The move gives Ascena -- which owns Dressbarn, Maurices and Justice -- entry to the large-size women's clothing market.

Target turned 50 this year, and chairman, president and CEO Gregg Steinhafel weighed in on the expect more, pay less (EMPL) value proposition, his 32-year career and miscellaneous other topics in a Q&A interview with the company’s online magazine known as “A Bullseye View.” To read a transcript of his comments click here.



 

New York -- Target will soon stop selling the Amazon Kindle line of e-readers and tablets.

Target representative Molly Snyder said the company is "phasing out Kindles and Amazon- and Kindle-branded products in the spring of 2012,” in a report on CNNMoney.com.

The retailer has declined to comment on the specific date or the reason that the products will no longer be on its shelves. The chain will continue to sell other e-readers, including the Barnes and Noble’s Nook.

Oak Brook, Ill. -- The Inland Real Estate Group of Cos. announced the appointment of Timothy D. Hutchison as COO of The Inland Real Estate Group.

In this position, Hutchison will be responsible for all non-investment operations of the company. Additionally, he will retain his duties as head of The Inland Services Group, leading the shared service entities.

Hutchison joined Inland in 2005 after having spent 14 years in operations and management roles in municipal government.

Retailers are in business to sell products customers want, except when they’re not, which appears to be the case with the retailer’s decision to stop selling Amazon.com’s hugely popular Kindle devices.