Corporate Governance

Nine West Holdings is taking action to deal with its debt.  

A formerly troubled center in an affluent community south of Los Angeles has capped off an 18-month, $17 million renovation.   Just two years ago, The Vestar-owned Peninsula Center in Rolling Hills Estates was plagued by several vacancies and an image not in keeping with standards in the community, which has a median household income of $144,000.   Today Orchard Supply Hardware and Ulta Beauty occupy the made-over center, along with new dining options Chipotle and The Habit Burger Grill.  

There was a time, not long ago, when mall owners crowed about their Sears, Macy’s and J.C. Penneys. Now, one has issued a chronicle of its systematic decommissioning of department store anchors.    That owner is PREIT, and CEO Joe Coradino claims his company was ahead of the curve in the decline of some of the biggest names in retail.  

One hotel chain is putting a new spin on room service.   Hawthorn Suites by Wyndham is partnering with Peapod and Instacart on a new grocery delivery pilot. Targeting the many travelers who are eager to keep a few “staples” in their hotel room, but struggle to hunt down the closest grocery store in an unfamiliar city, Hawthorn Suites is piloting a program that delivers groceries directly to guests’ doors.  

Walgreens Boots Alliance has set in motion a mechanism that will result in the Federal Trade Commission having  60 days to either clear its $9.7 billion acquisition of Rite Aid or sue to block it,   Walgreens and Rite Aid Corp. announced late Monday afternoon that they have “certified substantial compliance” with the second request from the FTC regarding their proposed merger.   

Online menswear retailer seems to be at the end of its rope — or in this case, thread.    E-retailer JackThreads’ website is promoting its “Farewell Sale,” which is selling all merchandise, site-wide, for 70% — and all is final sale. While the company did not post any messages saying that the company is ceasing operations, the site’s “Work With Us” page has been closed.  

Four more and he’ll match his age.   Twenty-four-year old Joel J. Gorjian, a VP at Great Neck, New York-based Namdar Realty Group, has made his 20th retail center purchase in the past 12 months, this time a mall in suburban Chicago.