Strategy

Santa Paula, Calif. -- Centro Properties Group US announced a 2,000-sq.-ft. lease has been executed with Panda Express at Santa Paula Shopping Center, located in Santa Paula, Calif.

Centro Properties Group, based in New York City, is the owner of Santa Paula Shopping Center.
 

Suffern, N.Y. -- Ascena Retail Group, owner of the Dressbarn, Maurices and Justice chains, reported Wednesday that net income for the quarter ended July 30 fell to $28.2 million, from $42 million in the year-ago period on one-time charges and a shorter quarter for the performance slide.

FORT WORTH, Texas — Pier 1 reported sales and earnings growth for its second quarter, leaving president and CEO, Alex Smith confident about the future of the company heading into the holiday season. 

Fort Worth, Texas -- Pier 1 Imports reported Thursday that second-quarter profit rose to $16.6 million, from $14.4 million a year earlier, matching Wall Street expectations.

Sales for the quarter increased 9.6% to $339.6 million, compared with $309.9 million in the year-ago quarter. Same-store sales increased 10.8%, boosted by higher traffic and average-ticket numbers.

Plymouth Meeting, Pa. -- Fameco Real Estate, L.P. said that its property management division, Fameco Management Services, has been awarded two new assignments from Titanium Real Estate Advisors totaling 88,000 sq. ft.

Designers Court is a 78,000-sq.-ft. shopping center located in Marlton, N.J., anchored by Atlas Interior Home Fashions, Kroungold’s Furniture, Mixellaneous, ABC Discount Appliances and Toppers Salon and Health Spa.

Ann Arbor, Mich. -- A Wednesday report by Detroit News said that Borders Group Inc. has appointed turnaround specialist Ojas Shah as its CFO to lead the company toward final liquidation.

Shah has been a director of Alix Partners, the firm providing financial restructuring and bankruptcy services to Borders.

Borders, which filed for Chapter 11 bankruptcy protection in February, is slated to close all stores effective Sunday, Sept. 18.

New York City -- Tiffany & Co. said Thursday it plans to open a store in New York’s SoHo neighborhood in September 2012.

The 7,000-sq.-ft. store will occupy a space that combines two locations -- 97 Greene Street and 106 Wooster Street. 

The 2012 opening corresponds to Tiffany’s 175th anniversary of its founding on Lower Broadway in the 1850s.

NEW YORK — Saks announced that Denise Incandela, president Saks Direct and EVP of Saks Fifth Avenue, has been named chief marketing officer for Saks Fifth Avenue, a newly created role. She also will continue as president Saks Direct.