Corporate Governance

Iconic Fifth Avenue women’s store to create greater sales space
One of New York City’s most iconic luxury apparel stores is getting bigger.

Bergdorf Goodman will relocate its executive offices and other non-sales related functions to 4 West 58th Street, adjacent to its iconic Fifth Avenue location. The move will create an additional 25,000 sq. ft. of retail space in the retailer’s flagship, including the entire 8th and 9th floors.
Din Tai Fung to open in Downtown Seattle
Seattle -- Madison Marquette announced that Din Tai Fung will open at Pacific Place located in downtown Seattle, in the summer of 2016. With only six U.S. restaurants, Din Tai Fung will be located in a 9,216 sq. ft. space on level four of the shopping center.

Din Tai Fung currently operates more than 100 locations worldwide with branches in Japan, the United States, South Korea, Singapore, China, Hong Kong, Indonesia, Malaysia, Australia, Thailand and most recently in Dubai.

Dick's Sporting Goods to backfill former J.C. Penney space at Cumberland Mall

Vineland, N.J. -- PREIT announced its plans to open a Dick's Sporting Goods at Cumberland Mall in Vineland, New Jersey. The sports and fitness retailer will occupy the former J.C. Penney Department Store space in a 50,000 sq. ft. location.

“This transaction demonstrates PREIT's continued success in replacing anchors with in-demand retailers,” states Joseph F. Coradino, CEO for PREIT "The addition of Dick's Sporting Goods will improve the merchandise mix and solidify the tenant roster at Cumberland Mall.”
Tech Guest Viewpoint: Top Four Retail Tech Predictions for 2016

2015 has been a good year for e-commerce. Alibaba shattered records on Singles Day with $14.3 billion in sales. India witnessed a boom in e-commerce investment from companies looking to win the millions of new smartphone users. Even the Girl Scouts joined the digital mix, rolling out version 2.0 of their Digital Cookie program to boost their online cookie sales.
Top four omnichannel tech predictions for 2016

2015 has been a good year for e-commerce. Alibaba shattered records on Singles Day with $14.3 billion in sales. India witnessed a boom in e-commerce investment from companies looking to win the millions of new smartphone users. Even the Girl Scouts joined the digital mix, rolling out version 2.0 of their Digital Cookie program to boost their online cookie sales. We expect even bigger things from 2016.
Decline of the in-store shopper hits Pier 1 Imports

Pier 1 Imports says it is still confident in its omnichannel strategy despite a mostly flat third quarter in which the company struggled with the same soft store traffic impacting many other retailers.

For the third quarter ended Nov. 28, the specialty retailer said same store sales decreased 0.7%. Total sales decreased 2.5% (a 1.4% decrease on a constant currency basis) to $472.5 million, compared to $484.5 million in the third quarter of fiscal 2015. Net income $10.92 million, or 13 cents a share, vs. a profit of $17.86 million, or 20 cents a share, a year ago.
Toys 'R' Us is focused on 'flawless' as it goes into holiday home stretch

With the financial picture improving modestly at Toys “R” Us, CEO David Brandon said the company is ready to build on third quarter successes during the final days of the holiday season.
RILA dishes on drone regs, pledge retail support

Drone sales are expected to set a new sale record this holiday season and create all sorts of new privacy, security and safety challenges in the process. No wonder regulations regarding the recreational use of drones are drawing support from the Retail Industry Leaders Association (RILA).

RILA in response to an interim final rule issued by the Federal Aviation Administration (FAA) on Dec. 15, pledged its support of what appears to be a common sense requirement that drones weighing up to 55 pounds must be registered.
Queen of mail-order catalogs dies at 88

Lillian Vernon, who grew a home business selling monogrammed pocketbooks and belts, into one of America's best-known mail-order businesses, died on Monday. She was 88.

Vernon and her family came to the United States in 1937 as Jewish immigrants from Germany fleeing Hitler. She was newly married and pregnant with her first child when she started her business in 1951.

The Lillian Vernon Corp. was the first company owned by a woman to be listed on the American Stock Exchange, in 1987, according to the New York Times.
X Team partner The Chambers Group launches new website

Charlotte, N.C. -- The Chambers Group, an X Team International partner, announced it has launched a new website. The revamped website emphasizes The Chambers Group’s local market knowledge, and provides an interactive property listing map that displays properties for sale, for lease and available land.
HomeGoods finds a home at Millcreek Mall Complex

Youngstown, Ohio -- Cafaro Company announced off-price home fashion retailer HomeGoods is the latest addition to the Millcreek Mall Complex located in Youngstown, Ohio. This new 25,000 sq. ft. store will open its doors in the summer of 2016 in the Millcreek Pavilion section of the complex, next to Michael’s.
Perfumania's Q3 doesn't smell so nice

The value proposition of Perfumania stores is under scrutiny after the retailer reported dismal same store sale for the third quarter.

For the 13-week period ended Oct. 31, net sales at Perfumania decreased 8% to $142 million, compared to $154.3 million in the prior year. Same-store sales decreased 22.1%. Net income was $3 million, or net income per diluted share of 20 cents, compared to a net income of $7.5 million, or a net income per diluted share of 48 cents during last year’s third quarter.