Corporate Governance

NEW YORK - Lifestyle guru Martha Stewart plans to open a coffee shop in New York.  

A spokeswoman for Martha Stewart confirmed Wednesday that plans are in place for the company to open a New York coffee shop. She declined to offer more details, such as when it will open.  

The shop will be located in Manhattan’s Chelsea neighborhood, the Associated Press reported, in the same building where Stewart’s company— Martha Stewart Living Omnimedia Inc.—is based holds the company's headquarters.

New York - Lululemon on Thursday will open  a 5,766-sq.-ft. flagship at Third Street Promenade in Santa Monica, Calif..  The visual centerpiece of the store is an intricately-laid domed mosaic ceiling—in a vibrant blue hue—that reads, "Breath deep & appreciate the moment."   The storefront boasts a colorful, two-story, illuminated glass corner.

New York City - Brixmor Property Group announced the hiring of Chardell Steves and Jerry Teitelbaum as VPs of Strategic Leasing for the West and North regions, respectively. Both seasoned mall leasing professionals, Steves joins Brixmor from General Growth Properties and Teitelbaum joins from Taubman Centers.

Minneapolis – Target Corp. has reportedly failed in its attempt to dismiss a lawsuit filed by banks in federal court in Minneapolis. According to Reuters, the banks are seeking compensation in the millions of dollars for reimbursing consumers for fraudulent charges and issuing new payment cards in connection with the November 2013 security breach at Target.

San Francisco - Most consumers do not feel safe when shopping online and many are shying away from their favorite retailers as a result. According to the ‘Trust in the Internet’ survey of 10,000 U.S. and U.K. consumers from NCC Group and IDG, nearly eight out of 10 people (77%) do not feel very safe when shopping online and, with the holidays just a few weeks away, nearly a quarter reveal they are doing less online due to security concerns (23%).

Mahwah, New Jersey - Ascena Retail Group’s first quarter profit topped estimates as strong online growth helped make up for falling same-store sales. The company, which operates the Lane Bryant, Cacique, Maurices, Dressbarn, Catherines, Justice and Brothers brands, reported net income of $53.5 million, compared to $52.6 million in the year-ago period.

Net sales of $1.2 billion for the first quarter were flat compared to the year-ago period. Same-store sales fell 4% while online sales surged 16%.

Huntsville, Alabama - GBT Realty Corp. announced the expansion of Strong Station, a 180,000-sq.-ft. neighborhood center in Huntsville, Alabama, currently tenanted by Academy Sports + Outdoor. Nearly 96% leased, the $16-million Phase II adds 95,000 sq. ft. of retail on nine acres to the east of the existing sporting goods store.      

Hollywood, Fla. – Altpay, a startup mobile payment company that released its patent-pending technology in April 2014, has received a $1 million equity investment from two family office investors. Altpay markets its mobile payment service in the U.S. to regional and mid-market retailers, including supermarkets, grocers, pharmacies and convenience stores.