Strategy

New York City -- A report released Tuesday by the International Council of Shopping Centers and Goldman Sachs Group said that U.S. retail sales are up 3.6% on a year-over-year basis.

Same-store sales at a selection of U.S. retailers rose 0.4% from the week ended Jan. 1 from the prior week, the groups also said.

Columbia, Md. -- Boardwalk Fresh Burgers & Fries said Tuesday it has signed a master franchise agreement with multi-unit restaurant developer Manu Patel to develop 40+ Boardwalk Fresh Burgers & Fries restaurants in Delaware, New Jersey, and the Philadelphia metro area.

Chicago -- Claire's Stores announced the appointment of Jay Friedman as president of the North American Division, reporting to Gene Kahn, CEO effective immediately.

Friedman joins Claire's from Jones Apparel Group where he was most recently president, and CEO, Jones Retail Corp., Nine West Group.

CHICAGO - Claire's Stores has announced the appointment of Jay Friedman as president of the North American division, reporting to Gene Kahn, CEO, effective immediately.

In his position, Friedman will lead both the Claire's and Icing businesses and will have direct oversight of buying, planning and allocation, supply chain, stores and overall operations of approximately 2,000 stores in the United States, Canada, Puerto Rico and the Virgin Islands.  

CINCINNATI - Macy's Inc. has announced a series of organizational expansions, totaling approximately 725 new positions over the next two years, to support the growth of macys.com and bloomingdales.com. 

New York City -- On the heels of Monday’s announcement that Borders Group is delaying payments to some of its vendors, the bookseller said Tuesday that two senior-level executives have departed.

Thomas Carney, general counsel, and D. Scott Laverty, chief information officer, both resigned from their posts Monday evening.

The news was disclosed in a Securities and Exchange Commission filing Monday. Borders told the Wall Street Journal that the departures were part of its previously disclosed efforts to improve liquidity.

By Richard P. Edwards, [email protected]

Real estate portfolio optimization has become standard practice for retailers and, in the current environment, store closings often outnumber openings. In many cases, closing stores is a proactive move. For instance, healthy retailers strengthen their positions by closing under-performing stores and relocating stores within a market is an ongoing process when retailers review leases up for renewal or look to improve their position in the area.

By Craig R. Johnson