Strategy

MINNEAPOLIS — Target's entry into Canada is nearing completion, as the company Friday finalized its real estate transaction with Zellers Inc. with the selection of 84 additional Zellers leases, bringing the total number of leases selected, including an initial group of 105 leases selected in May, to 189. From this second group, Target has acquired the leasehold interests for 29 locations, the vast majority of which will open as Target stores beginning in 2013. The remaining leases have been or will be sold to other Canadian retailers or back to landlords.

The fashion blogosphere have been overrun with complaints about how Target botched the launch of its latest and exclusive limited-time collection, Missoni for Target. And shoppers across the nation have taken to Facebook, Twitter and other sites to share their frustrations. The folks who seem to be the most put-out are those that ordered goods online. After experiencing long delays and going through any number of hurdles before they were even able to place an order, many are now being told that their orders will be delayed or, even worse, cancelled.

Dallas -- SRS Real Estate Partners said Friday that it has named Mark Kapnick senior VP in the firm’s New York office.

Kapnick will join SRS’ newly formed SRS Urban team, which focuses on the major urban retail markets in the United States. In the Metro New York market, he will help lead the SRS Urban push into landlord services and investment sales.

Kapnick was previously with Robert K. Futterman and Associates, first as director then senior managing director specializing in retail leasing and investment sales.
 

Chattanooga, Tenn. -- CBL & Associates Properties said Thursday that it has agreed to acquire Northgate Mall in CBL’s hometown of Chattanooga, for $11.5 million in cash.

The mall was listed for sale through an online auction. CBL anticipates closing on the transaction by Oct. 6.

New York City -- Express said Thursday that it has opened its first Canadian location, a 10,000-sq.-ft. store at Fairview Mall in Toronto.

The retailer said it plans to open a total six stores in Canada by the end of 2011, and an additional 50 stores across the country over the next five years.

In November, Express will have three locations opening in Calgary at Southcentre, Chinook Centre and Market Mall as well as an additional store in Toronto at Square One.

Montreal -- Jewelry chain Birks & Mayors said Wednesday that its president and CEO Tom Andruskevich has said he will resign from the company, effective spring 2012, and will continue in a new board role as vice chairman.

His spring 2012 resignation is contingent upon the naming of a successor. He said he is leaving because he wants to pursue “board positions and advisory roles for luxury brands and other high-end companies.”

Andruskevich joined the company in his current capacity in June 1996.
 

FRAMINGHAM, Mass. — Staples announced that it has teamed up with Martha Stewart Living Omnimedia and Avery Dennison to create a new line of home office products.

The Martha Stewart Home Office with Avery product line will debut in early 2012 with more than 300 SKUs across multiple product categories, which will be sold exclusively at Staples.

WAYNE, N.J. — Toys"R"Us announced that it plans to hire more than 40,000 employees to staff its U.S. stores and distribution centers this holiday season, as the company anticipates another busy Christmas across all of its shopping channels. This number is in line with previous years, when the company hired between 35,000 and 45,000 seasonal workers. Throughout the coming months, the company said it will continue to assess its staffing needs and add more employees, as necessary.