Corporate Governance

New York -- As part of its landmark, multi-year, $400 million dollar renovation of Macy’s Herald Square, the department store retailer debuts the Herald Square Café this week.

Located on the second floor with the shoe department, the 1,434-sq.-ft., 45,-seat café will serve Starbucks coffees, chocolates and high-end champagnes.

Wayne, N.J. -- Toys “R” Us said Tuesday that it will waive upfront service fees for its holiday layaway program, kicking off immediately and running through Oct. 31.

The retailer will also remove its minimum purchase requirement, and customers have until Dec. 16 to pick up orders.

Year-round layaway programs will continue, but will have the customary $5 service fee attached.

By Kathy Gersch, [email protected]

Jacksonville, Fla. -- Regency Centers said Friday it is asking Baltimore residents to suggest stores and restaurants they want to open at their local Parkville Shopping Center through an online crowdsourcing platform called Popularise. 

The leasing recommendations will be considered as part of the grocery-anchored center’s renovation, which has begun construction. 

Dallas -- Cypress Equities said Friday that Iconic Salon Suites will open at Village on the Green in north Dallas.

Iconic Salon Suites will occupy a 6,800-sq.-ft. retail space beside Jos. A. Bank, and joins recent additions such as Allstate, Plush Nails & Spa and Chiro One Wellness Centers.

Pembroke Pines, Fla. -- Indianapolis-based, Kite Realty Group said that Massage Envy has leased 4,066 sq. ft. at Cobblestone Plaza, located in Pembroke Pines, Fla. 

Kite Realty Group represented the landlord, KRG CREC/KS Pembroke Pines, LLC.

Cobblestone Plaza is anchored by Whole Foods, All Pets Emporium and Party City. The center sites on approximately 22 acres with 140,452 sq. ft. of retail space.
 

Fort Myers, Fla. -- Brixmor Property Group announced that Rainbow recently expanded from 4,000 sq. ft. to 6,000 sq. ft. at Morse Shores, located on Palm Beach Blvd. in Fort Myers, Fla.

Brixmor, based in New York City, is the owner of Morse Shores.
 

Philadelphia -- Plymouth Meeting, Pa.-based Fameco Real Estate said that it represented Ulta Beauty in a 13,647-sq.-ft. lease at 1619 Walnut Street, the former Westinghouse studio, developed by Vesper Property Group and located in Center City, Philadelphia.

The lease marks Ulta’s first retail location in Center City. It will open a three-level store much like its other signature urban store in Chicago.

New York -- The Thomson Reuters/University of Michigan consumer sentiment index climbed to a better-than-expected 74.3, compared to 72.3 in July and representing a three-month high.

Aggressive retail discounting and record-low interest rates boosted the results, but unemployment remains a big concern. 

“Confidence is lackluster,” Jim O’Sullivan, chief U.S. economist for High Frequency Economics Ltd., told Bloomberg. “It typifies the economy right now. It’s not strong, but not collapsing either.”

Topeka, Kan. -- Collective Brands Inc. reported Friday that net income for the second quarter was $9.7 million, compared with a loss of  $35 million last year when it booked nearly $84 million in one-time charges.

Sales for the owner of Payless ShoeSource and Stride Rite grew 6% to $886 million and same-store sales rose 2.9%.