Strategy

With Congress in recess this week, legislators can finally take a break from the grind of D.C. politics – fighting with the other party, fighting with their own party, and of course, the spotlight of a relentless national media. But in a lot of cases, members may have it better in D.C. than back home.   

Regency Center has announced the start of a ground-up addition to a center in an affluent section of Miami.   The nation’s largest retail REIT will add 70,000 sq. ft. of retail to an existing 173,000-sq.-ft. Target on US- 1 to create the new center, called Pinecrest place. The bulk of the addition will be occupied by a 46,000-sq.-ft. Whole Foods Market.   Construction is expected to be completed in second quarter 2018.  

Omega Sports has a new owner.    The Greensboro, North Carolina-based sporting goods retailer has been acquired by Craig and Kristin Carlock. Effective immediately, Craig Carlock, former CEO of specialty grocer The Fresh Market, is Omega’s new CEO.  

Joe Coradino’s experience-driven rebuilding of PREIT malls has given kids in Pennsylvania something new to build on — or, more like, in.   The state’s first Legoland Discovery Center has opened in the Plymouth Meeting Mall, north of Philadelphia, pushing the percentage of the property’s dining and entertainment space above 45%, compared to an average of 17% at other PREIT malls.  

GameStop is the newest data breach victim.    The gaming retailer is investigating reports that hackers may have siphoned credit card and customer data from its website, according to security news firm KrebsonSecurity.   

Abercrombie & Fitch Co. now has a way to get its fashions into the hands of its loyal shoppers in Southeast Asia — and fast.   Through a new wholesale agreement with Asia's leading online fashion destination Zalora, the teen apparel retailer will begin selling its Hollister merchandise through Zalora's online stores starting next week. The site will also begin offering Abercrombie & Fitch product later this month, according to Abercrombie & Fitch.  

The retail industry is going through an innovation revolution, driven by game-changing technologies such as artificial intelligence, virtual reality and advanced analytics.  

J.C. Penney extending its commitment to beauty and related services.    The retailer said Monday that 50 additional salon locations will be rebranded to The Salon by Instyle this year, as the company continues to revamp its 750 salons nationwide.    Key design elements of the new concept include updated graphics, photography that highlights hair trends, accent lighting, modern fixtures and sleek furniture. Each salon offers an array of services from haircuts to hair treatments to extensions.

The going-out-of-business sales have started at Hhgregg.   The bankrupt retailer began liquidating its assets on Saturday, April 8, after failing to find a buyer. The chain said it expects to close all of its 220 stores by the end of May.  

A veteran retailer has been named co-chairman of Lululemon Athletica.   The retailer has appointed Glen Murphy to its board as co-chairman, effective immediately.    Murphy served as chairman and CEO of Gap Inc. from 2007 to 2014. Prior to that, he was CEO of Canadian drugstore chain Shoppers Drug Mart. Currently, Murphy is head of FIS Holdings, where he is responsible for leading the high-impact consumer-focused investment firm deploying a combination of operating guidance and capital flexibility.