Corporate Governance

DSW is expanding its e-commerce capabilities with a deal to acquire Ebuys Inc., an online off-price footwear retailer with a presence in North America, Europe, Australia and Asia.

DSW announced that the purchase price includes an upfront payment of $62.5 million as well as future payments contingent on the performance of Ebuys, Inc. The deal is expected to close within the next 30 days.

Honolulu -- The Howard Hughes Corp. marked another critical milestone for Ward Village located in Honolulu, Hawaii. The company broke ground on Ae‘o, a 466 unit mixed-use residential tower that will be anchored by a flagship Whole Foods Market.

Photo: (L-R) Eric Griffith, Michael Herman, Stephen Lebovitz, Rusty Carlton, Robert Snetman.

Chattanooga, Tenn. -- CBL announced the promotions of Rusty Carlton to VP of portfolio accounting; Eric Griffith to VP of mall leasing; Michael Herman to VP of legal services; and Robert Snetman to VP of asset management and third party services.

Bryn and Dane’s announced it will be expanding from three to six locations in Pennsylvania within the next year. The new stores will be located in the Philadelphia Metro Area:

• Bryn Mawr Village in Bryn Mawr, Pennsylvania; set to open summer 2016
• Atwater South in Malvern, Pennsylvania; set to open fall 2016
• The Franklin, 834 Chestnut Street, Philadelphia, Pennsylvania; set to open early 2017

Tailored Brands, formerly Men’s Wearhouse, vowed more changes after its Jos. A Bank division logged a 31.9% decline in same store sales.

Build a Bear overcame a negative same store sales performance to produce better than expected profits in the fourth quarter.

The Tile Shop paved the way for continued growth in the fourth quarter, with an increase in same store sales and profits.

For the fourth quarter ended Dec. 31, the specialty retailer reported a 9.8% same store sales increase, a 70.4% gross margin increase, and diluted earnings per share of 7 cents. Net sales grew 13.5% to $71.9 million for the fourth quarter compared with $63.3 million for the prior year quarter. 

Traffic and conversion troubles led to a same store sales decrease for fashion retailer Bebe in the second quarter.

For the period ended Jan. 2, net sales decreased 5% to $122.4 million, as compared to $128.9 million in the second quarter of fiscal 2015. The net sales decrease was primarily driven by a comp decrease and store closures. Same store sales decreased 2.5% compared to an increase of 8% in the same period of the prior year. Traffic and conversion declined while average unit retail was flat.

The former head of global health and well-being at Procter & Gamble is the newest member of the board of directors at BJ’s Wholesale Club.
 

Whole Foods Market’s 365 store concept is the first anchor to be announced for Butler Town Center, in Gainesville, Florida. It is also the first 365 location to be announced for the state of Florida.