Corporate Governance

New York City -- By all reports, the ICSC New York deal-making conference, held Dec. 5 and 6 in New York City, delivered what the retail and shopping center industries were waiting for: A sense of forward progress.

Chain Store Age heard mostly positive comments from the show, such as “I haven’t seen this much deal action since 2006,” from one happy retail broker in the aisles of the New York Hilton meeting space. Mall developers unveiled redevelopment plans, and social media innovations and rollouts were the theme of the conference.

New York City -- Forever 21 signed an agreement Tuesday to open a flagship in Beijing, China, one part of a plan by the fast-fashion retailer to expand into the world’s largest emerging consumer market, according to the Los Angeles Times.

The Los Angeles-based chain will open a 24,000-sq-.ft. store in a multi-story mall located in Beijing’s central shopping district, Wangfujing, with additional stores set to open in Shanghai and Hong Kong, the report said.

Well, another Black Friday has come and gone. And, much to the surprise of many (myself included), it did so with a bang. General consensus is that the Black Friday sales bonanza was a rousing success, and the numbers certainly support that: ShopperTrak reported that Black Friday sales increased 6.6% over the 2010 numbers, with a record-breaking $11.4 billion in purchases. More people were out and about — foot traffic reports show an increase of about 5% over last year, which is good news for the brick and mortar guys.

Anaheim, Calif. -- Pacific Sunwear of California Inc. reported Wednesday that losses widened in the third quarter to $17.6 million, from $7.1 million a year earlier. The decline was due in large part to charges associated with store closures.

Issaquah, Wash. -- Costco Wholesale Corp. reported Thursday that profit for the quarter ended Nov. 20 rose 2.6% to $320 million, from $312 million a year earlier. The wholesale club operator attributed the lackluster performance, which missed Wall Street expectations, to higher costs, which offset increased revenue.

Costco's revenue rose to $21.18 billion, missing analysts’ predicted $21.29 billion in revenue.

Same-store sales rose 10%; excluding gas prices and strengthening foreign currencies, the figure rose 7%.

Paris -- Gap Inc. announced Thursday the opening of its first Banana Republic store in France, located in Paris on Avenue des Champs Élysées.

The 15,952-sq.-ft. space will house the brand’s women’s and men’s collections. “We are thrilled to open our first Banana Republic store in France -- a brand-building flagship in Paris -- and reach yet another important milestone for our international growth strategy,” said Stephen Sunnucks, president, International, Gap Inc.

Suffern, N.Y. -- Ascena Retail Group said Thursday it has appointed Jeff Gerstel as president of Dressbarn, and named George Goldfarb as president of its Maurices brand, both effective immediately.

The new executives will report to David Jaffe, president and CEO of Ascena Retail Group.

Gerstel joined Dressbarn in 2006 as senior VP operations and most recently served as executive VP and COO.

Goldfarb joined Maurices in 1985, was named CFO in 2003, and most recently was its executive VP and COO.

Beaumont, Texas -- Conn’s Inc. reported Thursday that losses in the third quarter widened to $12.7 million from $4.8 million a year ago.

Sales rose 5% to $179.5 million.

The electronics retailer also announced that it made Theodore M. Wright its permanent president and CEO. He had been the company’s interim president and CEO since February 2011.

FRAMINGHAM, Mass. — Staples has named Cynthia Pevehouse SVP general counsel, effective Jan. 3, 2012. Pevehouse will have global management responsibility for the company’s legal team and report to Ron Sargent, Staples’ chairman and chief executive officer.

“Cynthia brings a wealth of knowledge and skills to Staples,” said Sargent. “With her extensive legal management experience and proven leadership, Cynthia will play an important part in supporting the company’s growth.”

PLANO, Texas and NEW YORK — JCPenney is looking to capture its share of the Martha Stewart brand that has become synonymous with Kmart, by launching a strategic alliance with Martha Stewart Living Omnimedia to create a unique and comprehensive retail experience featuring Martha Stewart products, know-how and advice.