Corporate Governance

HOUSTON — The relocation of Saks Fifth Avenue’s flagship store is allowing leading retail real estate firm Simon Property Group to use the space for other purposes, and the retailer to open a two-story, 198,000-sq.-ft. space adjacent to the one it will vacate at the Houston Galleria. 

Nordstrom never rushes things. It moves forward slowly, thoughtfully and creatively. And when the company makes a decision, observers tend to nod their heads and say: “Hey, that’s a good idea.”

A week ago, in a news conference announcing the acquisition of a West Side Manhattan Nordstrom store site for $102.5 million, Peter Nordstrom said: “We’ve had the intention and the drive, gosh, probably for the last 25 years to try to be here. We fully expect this to be our most successful store.”

Washington, D.C. — Pret A Manger has leased a two-story retail building on Capital Hill in Washington, D.C., according to Douglas Development, the building’s owner. Located just two blocks from the U.S. Capitol Building, the restaurant will occupy 4,300-sq. ft. and offer two floors of indoor dining as well as a large outdoor patio.

Originally from London, Pret A Manger opened its first U.S. location in 2000 near the New York Stock Exchange. Today, there are over 300 Pret A Manger locations worldwide.

THE WOODLANDS, Texas — Regional consumer electronics retailer Conn’s plans to more than double its footprint in Phoenix following second quarter results, which showed an 18.4% increase in same-store sales.

Columbus, Ohio — DSW has opened two new footwear, handbag and accessories stores, one in Norman, Okla., and a second in Victor, N.Y.

The new stores bring the total number of DSW stores to 379. Locations include 42 states, the District of Columbia and Puerto Rico.

SAN FRANCISCO — Mavatar Technologies has appointed Phil Schlein, former president and CEO of Macy's California and partner at U.S. Venture Partners, as chairman of its board of directors. 

Wroclaw, Poland — Atrium European Real Estate has acquired the Galeria Dominikanska shopping center in the Polish city of Wroclaw for E151.7 million, according to Dentons Europe, which advised Atrium on the transaction.

Atrium owns operates and develops retail real estate and shopping centers in Central and Eastern Europe.

MIAMI — Perry Ellis has appointed Stanley Silverstein as president of international development and global licensing. In this role, Silverstein will be responsible for driving the company's footprint globally across its brand portfolio. 

Silverstein joins the company from PVH Corporation where he was responsible for driving Warnaco's international expansion during his 29-year tenure. He will report directly to George Feldenkreis, chairman and CEO, and Oscar Feldenkreis, president and COO of the company.