Strategy

New York City - West Hampstead, N.Y.-based construction firm Corcon and J.A. Stowell Construction, Inc. of California said Tuesday they have completed UGG Australia’s Madison Avenue flagship store in New York City.

The 4,613-sq.-ft. store was completed on October 28. J.A. Stowell Construction was the construction manager and owner representative for UGG Australia, Corcon served as general contractor, and Anthony Donnelly of VisualWorks, U.K. designed the new location.

By Michael Haydock

The retail industry might just be the last bastion of the gut instinct.

In my 20 years working with apparel merchants, department stores and big box companies, I've seen bosses make bet-the-company decisions on little more than a "feeling." Retailing is that kind of a business - it's filled with wonderful visionaries who have an uncanny sixth sense for the nascent trend - or, the moment when a powerful trend is about to falter.

New York - Optimism about the U.S. economy grew in November, pushing the latest reading on consumer sentiment to the highest level since June. The Consumer Confidence Index rose to 54.1 in November, up from a negatively revised 49.9 in October, the Conference Board, a New York-based research group that compiles the index, said Tuesday. Economists were expecting the index to increase to 52.

New York - Barnes & Noble Inc. reported Tuesday that it narrowed its loss to $12.6 million in its fiscal second quarter, compared with a loss of $24 million in the year-ago period. Results missed Wall Street expectations, and the book seller has issued a weak outlook for the third quarter and the full year.

Revenue surged 64% to $1.91 billion, attributed to the company’s acquisition of its college book unit. Without the acquisition, sales rose 1%.

Same-store sales fell 3.3%.

Menomonee Falls, Wis. - Kohl's Corp. announced Tuesday that it is promoting four of its executives as part of an ongoing succession planning process.

Don Brennan has been promoted from senior EVP to chief merchandising officer. John Worthington was promoted from senior executive VP to chief administrative officer. Peggy Eskenasi was promoted from executive VP of product development to senior EVP. And Wes McDonald was promoted from EVP and CFO to senior executive VP and CFO.

All the promotions are effective Dec. 1.

As part of our preview coverage of the upcoming International Council of Shopping Centers’ New York deal-making convention in New York City, Dec. 6 and 7, Chain Store Age talked with Joseph Coradino, president of Pennsylvania Real Estate Investment Trust/PREIT Services, Philadelphia, about retailer attitude and potential deals at the New York convention.

What do you expect the retailer attitude to be at the ICSC New York deal-making show in early December?