Strategy

Aritzia Inc. is expected to raise C$400 million ($302 million) in its initial public offering.   The company, based in Vancouver, sells fashion-forward clothes and accessories for young women. It has 75 stores in North America, including locations in New York, New Jersey, Toronto, Montreal, Boston, and Chicago, along with an online business.  

It’s not just how much traffic a store gets. It’s what the store does with the traffic that matters. Chain Store Age will present a webinar on how retailers can increase sales even when challenged with lower store traffic.   Store traffic analytics expert Mark Ryski will draw on real-world, data-rich examples as he provides critical information on how retailers can drive significantly better retail performance for the holiday season and beyond—despite persistent ‘traffic trouble’.  

As it turns out, high-fashion and Lands’ End weren’t perfect together.      Less than two years after she took the reins of Lands’ End, Federica Marchionni has stepped down as CEO. Two current Lands’ End executives—James Gooch, executive VP, COO and CFO, and Joseph Boitano, executive VP and chief merchandising and design officer—were named as interim co-CEOs, effective September 26, while the company searches for a permanent replacement.  

Phillips Edison has acquired the Harbour Village Shopping Center in Jacksonville for an estimated $24.9 million, according to the Jacksonville Business Journal.   The center was sold by a joint venture of MMG Equity Partners and Global Fund Investments, which purchased it in a foreclosure sale for $12.6 million in 2011. At that time, Harbour Village was 86% occupied.  

Publix Super Markets has promoted Bob McGarrity, director of construction, to VP of facilities.    McGarriity replaces 42-year company veteran Dave Duncan, who has announced his decision to retire effective Dec. 31, 2016.    In other appointments, VP of real estate Jeff Chamberlain will be promoted to senior VP, overseeing real estate and facilities, effective Jan. 1, 2017.  

West Elm is expanding into the hotel business. And most everything in the guest rooms will be for sale.   The retailer, a division of Williams-Sonoma, is partnering with hospitality management and development company DDK to launch a chain of boutique hotels.    

Half of all American households might have an Amazon Prime membership by the end of this year.

Cowen and Company analyst John Blackledge estimates that approximately 44% of U.S. households are Prime members, and that  penetration could accelerate to 50% by the end of the year, according to a report by CNBC.   

Prime has maintained healthy growth largely due to [its] increasing value proposition," Blackledge said. 

Staples has chosen a company veteran as its new CEO.   The retailer on Monday named Shira Goodman as its president and CEO and as a member of its board of directors, effective immediately.  Goodman, who has been been with Staples 24 years, has been serving as interim CEO since May when she took over for Ron Sargent, who resigned in the wake of the company’s failed attempt to acquire rival Office Deport.