Corporate Governance

New York – Ann Inc. is opening its first Loft store in Mexico, continuing the company's international expansion. The store is located in the Antea Lifestyle Center in Queretaro, with additional locations planned for later this year in Mexico City's Parque Toreo Mall and Puebla's Angelopolis Mall.

Ann Inc. is working with its franchise partner Grupo Axo to establish its retail presence in Mexico.

Minneapolis - Christopher & Banks Corp. is cutting its sales forecast for the third quarter of fiscal 2014, based on sales trends to date for the quarter. The company believes sales have been negatively impacted by continued softness in mall traffic and lower than expected sales from its September fashion show, as the demand for fashion merchandise exceeded planned inventory levels, as well as due to late receipts associated with the West Coast port disruptions.

Springfield, N.J. – Store closing and pre-opening costs, as well as an unfavorable state tax ruling, reduced net income at Village Super Market Inc. 5% to $5.87 million in the fourth quarter of fiscal 2014, from $6.2 million in the same quarter the prior year. Two new store openings helped boost net sales 5.5% to $383.8 million, from $376.3 million.

Same-store sales rose 9%. For fiscal 2015, Village Super Market expects same-store sales to range from flat to slightly positive.

Austin, Texas - Starmount has donated laptop computers to Retail ROI to help equip a computer lab at the Hogar de Niños Tía Tatiana School, an inner-city school in Herrera that’s located in an impoverished area in Santo Domingo, Dominican Republic. The laptops will be used to help replace outdated computers at the school, which serves more than 500 children.

Atlanta - Havertys sales for the third quarter of fiscal 2014 increased 3% to $198.5 million, compared with $192.7 million for the third quarter of fiscal 2013. Same-store sales increased 3.5%.

Havertys plans to open four new stores by the end of the year. Clarence H. Smith, chairman, president and CEO of Havertys, said sales for the quarter did not meet expectations.

Burlington, N.J. - Affiliates of Bain Capital Partners LLC and certain other stockholders of Burlington Stores Inc. intend to offer eight million shares of the company’s common stock in an underwritten public offering. The offering consists entirely of secondary shares to be sold by the selling stockholders.

Burlington Stores will not sell any shares in the offering and will not receive any proceeds from the offering. J.P. Morgan is acting as sole book-running manager for the offering.

Houston - Stage Stores Inc. has entered into an amended and restated $350 million senior secured revolving credit facility that will mature on Oct. 6, 2019. The credit facility replaces the company’s former $250 million senior secured revolving credit facility, which was set to mature on June 30, 2016.

Newport Beach, Calif. -- Mark Lucescu, president of Lucescu Realty, announced the sale of Ventura Village Shopping Center in Ventura, California, for $23.25 million. 

Lucescu exclusively represented the interests of the seller, Regency Centers, a publicly traded real estate investment trust, headquartered in Jacksonville, Florida. In addition to representing Regency Centers in the sale, Lucescu also procured the buyer, a private company.
 

Grapevine, Texas -- Grapevine Mills, the largest outlet and value retail shopping destination in North Texas, welcomed Torrid to its retail line-up of more than 180 stores, and will soon enhance its selection when Steve Madden opens in October.  

Howell, N.J. -- Norman’s Hallmark, a family-owned and operated card and specialty gift retailer, has signed a lease to occupy 5,200 sq. ft. at Aldrich Plaza, Howell, New Jersey, announced Levin Management, exclusive leasing and managing agent for the 150,000-square-foot shopping center.
 
Gloria Mercado, Levin’s leasing representative, negotiated the long-term lease.