Strategy

Academy Service Group, a nationwide provider of facility maintenance services, has acquired Absolute Maintenance, a Northern New Jersey-based facilities maintenance fleet.

Academy Service Group offers pest control, cleaning, janitorial, plumbing, handyman and general maintenance services to its portfolio of multi-site facilities and chain store clients. Michael Rose, CEO of Academy Service Group, has stepped up efforts to expand the self-performing reach in Northern New Jersey and New York City region.

Vera Bradley has announced a new head of store development as it looks to reimagine Vera Bradley into a premium global lifestyle brand.

Harry Cunningham, who has nearly 25 years of experience in store design and visual merchandising, has been with Saks Fifth Avenue since 2006 and most recently held the post of SVP of Store Planning, Design and Visual Merchandising. Prior to that, Cunningham held various visual merchandising roles at Liz Claiborne, Saks Department Store Group and Dillard's.

Istanbul, Turkey - Annapolis, Maryland-based architectural firm Roy Higgs International has been retained to design the retail portion of Metropol İstanbul, a global mixed-use project and architectural landmark of Istanbul that is rising within the borders of the Istanbul International Financial Center in Ataşehir.

“Metropol İstanbul will breathe new life into this vibrant city, elevating its architectural significance,” said Elif Ozbay, design manager for Metropol İstanbul.

Memphis, Tenn. - Fred's Inc. total sales for November 2014 increased 2% to $154.3 million from $151.2 million in November 2013. Same-store sales for the month decreased 2.3% compared to flat sales in the same period last year.
Fred’s said that same-store sales were in line with previously issued guidance and that the decision to close stores Thanksgiving Day pushed same-store sales from flat to negative growth.

Fort Wayne, Ind. - Vera Bradley has hired industry veteran-and former Saks executive— Harry Cunningham as head of store development, effective December 8, 2014.

Cunningham has nearly 25 years of experience in store design and visual  merchandising. He has been with Saks Fifth Avenue since 2006, most recently as senior VP of store planning, design and visual merchandising.

Prior to that, he held various visual merchandising roles of increasing responsibility with Liz Claiborne, Saks Department Store Group and Dillard's.

New Albany, Ohio – The cool kid might still be cool, after all. Abercrombie & Fitch reported net income of $18.2 million in the third quarter of fiscal 2014, compared to a net loss of $15.6 million in the same period the prior year and beating Wall Street forecasts.

Footwear is one of the hottest segments of retail these days and Boot Barn is ready to capitalize on the growing market.

The company reported a 7.3 percent increase in same store sales and reversed a prior year loss during its second quarter ended September 27, its first financial report since completing an initial public stock offering on Nov. 4.

NEW YORK - Lifestyle guru Martha Stewart plans to open a coffee shop in New York.  

A spokeswoman for Martha Stewart confirmed Wednesday that plans are in place for the company to open a New York coffee shop. She declined to offer more details, such as when it will open.  

The shop will be located in Manhattan’s Chelsea neighborhood, the Associated Press reported, in the same building where Stewart’s company— Martha Stewart Living Omnimedia Inc.—is based holds the company's headquarters.