Strategy

BENSALEM, Pa. — Charming Shoppes Inc. recorded a wider-than-expected loss for its fourth quarter as higher product costs and discounts at its Lane Bryant division cut into margins. The chain said it plans to close between 90 to 105 underperforming stores this year.

Charming Shoppes, which hired Barclays Capital in December to help it review its options, posted a loss of $13.2 million for the three months ended Jan. 28, compared with a loss of $30.4 million a year ago.

NEW YORK — Charitybuzz (www.charitybuzz.com), an online charity auction house, announced that Peter Sachse, chief stores officer of Macy’s, has been appointed to the Charitybuzz board of directors. Sachse also serves as a member of the board of governors of the YMA Fashion Scholarship Fund and as a director of XO Group, Inc. Charitybuzz raises funds for nonprofits around the globe through exclusive online charity auctions with the world’s biggest celebrities and brands. 

New York -- The Conference Board said Tuesday that its Consumer Confidence Index pulled back slightly in March, to 70.2, down from 71.6 in February.

"Consumer Confidence pulled back slightly in March, after rising sharply in February,” said Lynn Franco, director of The Conference Board Consumer Research Center. “The moderate decline was due solely to a less favorable short-term outlook, while consumers’ assessment of current conditions, on the other hand, continued to improve.”

Westchester, Ill. -- Charles Sparks + Co. announced the debut of its design for the new Neiman Marcus store in Walnut Creek, Calif. The 85,000-sq.-ft., three-level location represents a fresh new vision of modern luxury in a smaller format store for the luxury department store retailer.

Honolulu -- Columbus, Ohio-based Glimcher Realty Trust announced plans to acquire 80% indirect ownership interest in Pearlridge Center, located in Honolulu, for about $290 million from partner Blackstone Real Estate Partners.

“With sales of nearly $500 per square foot and a dynamic growth profile, this strategic investment is consistent with our goal of enhancing the quality of our real estate portfolio,” said Michael Glimcher, chairman and CEO, Glimcher.

Corpus Christi, Texas -- Dolphin Ventures and EWB Development announced that they will develop The Outlets at Corpus Christi Bay, located in Corpus Christi, Texas.

The project will be a partnership with the Lockard Cos.

Phase one, slated to contain 281,526 sq. ft., is targeted for a late 2013 opening.

“This center will fill a void in the Texas market and is one of the very last major tourist destinations in the U.S. without an outlet center,” said Lisa Quier Wagner of Dolphin Ventures and EWB Development.

San Diego -- Marcus & Millichap Real Estate Investment Services said it has named Phil Sambazis senior director of the firm’s National Retail Group in San Diego. Sambazis joined Marcus & Millichap in March 2006 and specializes in the acquisition and disposition of retail shopping centers and net-leased investments.

Marcus & Millichap has also named Kevin W. Boeve senior director of the firm’s National Retail Group in Ontario. Boeve joined Marcus & Millichap in June 1999.

North Plainfield, N.J. -- Levin Management announced that it has named Joe Lowry as director of acquisitions and business development for the company.

The 25-year commercial real estate industry veteran joined Levin in 2009 as director of acquisitions. His added responsibilities reflect the firm’s ongoing focus on adding new clients from among institutions, fund managers and private owners it does not already serve.

Dallas -- SRS Real Estate Partners announced three new hires in brokerage, marketing and research.

Scott Poehler, Alexandra Hilker and Kyle West have joined the SRS teams in Newport Beach, Calif.; Denver, and Orlando, Fla.

Scott Poehler has joined SRS as an associate in the Newport Beach office, coming to SRS from Keller Williams Realty.

Baltimore -- Jones Lang LaSalle announced Monday that its Retail Group has been selected by Ashkenazy Acquisition Corp. as the property manager of The Village of Cross Keys, a two-level, open-air retail center north of downtown Baltimore.

The Village of Cross Keys is a mixed-use center with 179,000 sq. ft. of office space and an 81,000-sq.-ft. retail center featuring Chico’s, Williams-Sonoma and Talbots, among others. The retail offerings on site are complemented by a 146-room Radisson Hotel, 700 residential units and a large office park.