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Strategy

  • Founder sells Art Van Furniture to private equity firm

    The owner of one of the largest independent furniture chains in the country has sold his company to a private equity firm approximately 58 years after he founded it.  

  • $33 million renovation planned for Hawaii’s largest mall

    Washington Prime Group has announced a $33 million renovation plan of Pearlridge Center in Aiea, Hawaii, near Pearl Harbor. The 1.2 million-sq.-ft. property is the largest retail center in the state, consisting of Uptown and Downtown complexes joined by a monorail.  

  • Survey: Retail execs optimistic about 2017

    Retailers executives are bullish on 2017.   That’s according to a survey from TD Bank, which polled 173 retail executives at the National Retail Federation’s annual Big Show in New York City. Seventy-four percent of the retailers said they believe sales will increase in the next 12 months. What’s more, 81% of the retailers reported that they met or exceeded their revenue goals in 2016.   In other key findings:  

  • Warby Parker, Palo Alto, Calif.

    Warby Parker has set up shop in downtown Palo Alto in a Spanish Colonial Revival building built in 1927.      The hot eyewear retailer has a knack for combining its signature library-inspired design details, which include walnut shelving, terrazzo tiled flooring, and plush leather seating, with unique elements in each location. In Palo Alto, a mural of original illustrations by artist Maira Kalman adds color and a touch of humor.   

  • Walsh joins Trademark leasing department

    Gavin Walsh has joined Trademark Property Co. as a senior leasing representative focused on mixed-use properties in Texas. They include Waterside in Fort Worth, Watters Creek in Allen, and Hillside Village in Cedar Hill.   Walsh arrives at the Fort Worth-based developer from The Shopping Center Group in Raleigh, North Carolina, where he handled a portfolio exceeding three million sq. ft. He also worked as a broker for Katz & Associates in the state.  

  • Department store chain taps exec to head up tech center in India

    J.C. Penney is shoring up its commitment to its new technology lab in Bangalore, India.   The chain has tapped Snehil Gambhir as VP and managing director of its global in-house center (GIC). Tasked with leading all operations at the company’s GIC, he will support and expand a variety of key business functions, including IT, digital, store operations, analytics, marketing, infrastructure and merchandise operations.  

  • President of struggling Banana Republic to depart

    The search is on for a new president of Banana Republic, which has had a hard time finding its footing amid dismal same-store sales results.     Gap Inc. said Tuesday that company veteran Andi Owen, global brand president for Banana Republic, will leave the retailer in late February. Gap CEO Art Peck will directly oversee the brand until the company finds a replacement.   

  • Microsoft taps LinkedIn exec to head up tech

    Kevin Scott is joining Microsoft in the newly created role of chief technology officer (CTO).   Scott most recently served senior VP of infrastructure at LinkedIn, which Microsoft purchased in June for $26 billion.   

  • PwC: Outlook good for deal activity in 2017

    A combination of factors, including innovation, cross-border deal interest and the availability of cash reserves, bodes well for deal activity in the retail and consumer markets.   That’s according to a review by PwC, which reported that the retail and consumer deals market ended 2016 with an increase in deal volume and a decline in deal value when compared to 2015.   

  • Coming soon: Target Pay?

    Target Corp. is entering the mobile payments arena.       Following similar moves by such competitors as Walmart and Kohl’s, the discounter plans to introduce mobile payment features to one or more of its own apps, according to a report by Recode.   
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