Events

NEW YORK — Tiffany & Co. said Thursday it plans to open a store in New York’s SoHo neighborhood in September 2012.

The 7,000-sq.-ft. store will occupy a space that combines two locations -- 97 Greene Street and 106 Wooster Street. 

The 2012 opening corresponds to Tiffany’s 175th anniversary of its founding on Lower Broadway in the 1850s.

New York City -- Tiffany & Co. said Thursday it plans to open a store in New York’s SoHo neighborhood in September 2012.

The 7,000-sq.-ft. store will occupy a space that combines two locations -- 97 Greene Street and 106 Wooster Street. 

The 2012 opening corresponds to Tiffany’s 175th anniversary of its founding on Lower Broadway in the 1850s.

Ann Arbor, Mich. -- A Wednesday report by Detroit News said that Borders Group Inc. has appointed turnaround specialist Ojas Shah as its CFO to lead the company toward final liquidation.

Shah has been a director of Alix Partners, the firm providing financial restructuring and bankruptcy services to Borders.

Borders, which filed for Chapter 11 bankruptcy protection in February, is slated to close all stores effective Sunday, Sept. 18.

Fort Worth, Texas -- Pier 1 Imports reported Thursday that second-quarter profit rose to $16.6 million, from $14.4 million a year earlier, matching Wall Street expectations.

Sales for the quarter increased 9.6% to $339.6 million, compared with $309.9 million in the year-ago quarter. Same-store sales increased 10.8%, boosted by higher traffic and average-ticket numbers.

MINNEAPOLIS — Target's just-released Missoni collection resonated so well with consumers that the demand for the line lead to the crashing of Target's website on Tuesday. Various newspapers reported that the collection was flying off the shelves of stores, and that some stores were sold out within minutes.

Target posted a note on its website : "Woof! We are suddenly extremely popular. You may not be able to access our site momentarily due to unusually high traffic. Please stay here and we'll try to get you in as soon as we can!"

Salt Lake City -- Bloomfield Hills, Mich.-based shopping center owner Taubman Centers announced Tuesday the first 20 retailers – all new to the market and most new to Utah – coming to City Creek Center, the 700,000-sq.-ft. retail component of mixed-used development City Creek in downtown Salt Lake City.

PHOENIX, Ariz. — The Global Market Development Center announced that its members have elected two new board members to serve in two-year terms on their board of directors: Mike Petocchi, business group manager HBC/cosmetics with Wegmans Food Markets; and former GMDC chairman of the board, Jim Wonderly, VP grocery non-foods/GM Ahold USA.

Dallas -- Neiman Marcus Group reported a fiscal fourth-quarter loss on debt-related expense and slightly lower margins, even as its revenue rose 11%.

For the quarter ended July 30, Neiman Marcus lost $61.4 million, compared with a year-earlier loss of $32.8 million. Excluding a $42.7 million after-tax loss on debt extinguishment, the adjusted loss was $18.7 million. Gross margin narrowed to 30.5% from 30.9%.