Strategy

Chattanooga, Tenn. -- CBL & Associates Properties, Inc. announced the promotions of Andrew Cobb to senior VP and director of accounting, Stuart Smith to senior VP - planning/redevelopment, Jennifer Cope to VP - shared services, Jon Meshel to VP - development/redevelopment, and Ken Wittler to VP - development.

Andy Cobb joined CBL in June 2002, as VP - accounting. In February 2007, he was promoted to VP and director of accounting. Prior to joining CBL, Cobb was an audit manager for Arthur Andersen.

New York -- The fast-growing Michael Kors has opened its largest and most comprehensive location to date, a three-story, 22,000-sq. ft. flagship in the Soho section of Manhattan. The store features the debut of the men’s collection in the brand’s own retail stores, with the first-ever in-store presentation of men’s shoes and and an entire floor dedicated to accessories, and the first dedicated Michael Kors shoe salon. Huge, floor-to-ceiling video screens, set on all three floors, help bring the products to life.

Free stuff and flexible employment opportunities for athletes are key elements of Dick’s Sporting Goods first ever partnership with the U.S. Olympic Committee.

The 2016 Summer Games will be held in Brazil in 2016 and to help athletes prepare Dick’s said it would offer jobs and equipment donations at U.S. Olympic training centers.

New York -- For the third consecutive year, Chain Store Age will select 10 individuals in retail real estate as “retail stars;” all will be featured in the May 2015 issue with bonus distribution to the International Council of Shopping Centers’ RECon show in Las Vegas in May.

The award recognizes people under the age of 40 who are making an impact in retail real estate – whether from the tenant (retail) or the landlord (shopping center company) side.

Urban Outfitters Inc. set a record and beat Wall Street expectations with its sales for the fourth quarter and full fiscal year 2014.

Total net sales grew 12% to $1.01 billion from $905.86 million, setting a record for the company. Same-store sales, including direct-to-consumer sales, rose 6%. For the full year, total net sales increased 8% to $3.32 billion, from $3.09 billion, also another record. Same-store sales grew 2%. For both the fourth quarter and full fiscal year, strong growth in the wholesale segment helped push up total net sales.

Woonsocket, R.I. – CVS Health Corp. showed vitality with its financial performance in the fourth quarter and fiscal year 2014. Net income for the fourth quarter grew 5% to $1.32 billion from $1.26 billion.

Mississauga, Canada – Landlords holding the leases of Target Canada stores reportedly are requesting that Ontario Superior Court put Target Canada into full bankruptcy. According to the Toronto Globe & Mail, the move would remove control of liquidation of the company’s assets from Target and put it in the hands of a third-party trustee.

Santa Ana, Calif. -- As part of Westfield MainPlace’s redevelopment plan, the Santa Ana, California, center announced two new dining destinations: Lucille’s Smokehouse Bar-B-Que and Wokcano. Slated to debut late summer/early fall 2015, these announcements come on the heels of three recent restaurant openings: Panini Café (December 2014), Dog Haus and Blaze Pizza (both November 2014).