News Briefs

Two outdoor furniture sister retailers are expanding their footprints this spring.

Chair King Backyard Store and Fortunoff Backyard Store will open four new showrooms in the coming months, growing their presence in Texas, New York and Virginia (locations found at end of article). The retailers say that the expansion marks a “significant step” in their continued growth and commitment to improving how families relax outdoors.

In-store, customers benefit from a knowledgeable staff of Backyard Specialists who educate shoppers on a wide range of material options, allowing guests to “make informed choices and invest in outdoor furniture that suits their needs and lifestyles.”

[READ MORE: Ikea plots 10 new stores for 2026 — here's where]

“When it comes to outdoor furniture, customers want to see and compare the quality, sit on the pieces to experience their comfort, and explore the various options available,” said Curt Littlejohn, CEO of Chair King and Fortunoff. “Experiencing furniture in person allows customers to truly appreciate the craftsmanship, materials and comfort, which can be challenging to convey through a screen alone.”

The new store locations include the following: 

• Chair King Backyard Store - Pearland, Texas
• Fortunoff Backyard Store - Huntington, N.Y.
• Fortunoff Backyard Store - Stony Brook, N.Y.
• Fortunoff Backyard Store - Springfield, Va.

Chair King Backyard Store operates 22 showrooms throughout Texas, while Fortunoff Backyard Store operates 30 showrooms across New York, New Jersey, Connecticut, Delaware, Pennsylvania and Virginia. Chair King purchased the controlling share of Furniture Concepts, the LLC that owned the Fortunoff Backyard Store brand, in 2009.

Ashley Stewart have secured financing to support growth initiatives under its new owners. 

Tiger Finance has provided a $15 million revolving credit facility to the plus-size women’s apparel brand, which was founded in Brooklyn in 1991 and operates 72 stores nationwide and an e-commerce site. The financing enhances the company's liquidity position and will support ongoing growth initiatives under new ownership.

The capital infusion follows the recent acquisition by G Ashley Inc. of Ashley Stewart's assets through a UCC Article 9 sale, which allows for a foreclosure sale after a default. The new capital will support inventory procurement, supply chain continuity and omnichannel initiatives designed to improve both customer experience and margin performance.

“This revolving line of credit strengthens the company's near-term liquidity profile and supports a disciplined restructuring process," said Andy Babcock, senior managing director, Tiger Finance. "Our facility is designed to provide Ashley Stewart with the working capital flexibility needed to stabilize operations and position the brand for improved profitability. Our experience in retail and consumer strategic realignment gives us strong conviction in supporting businesses with durable brand equity and clear paths to operational improvement. Ashley Stewart fits that profile well."

Added Sarika Gupta, CFO of Ashley Stewart: "This partnership underscores Ashley Stewart's longstanding resilience and ability to reinvent itself through changing retail cycle”

“With added liquidity, the brand will accelerate ongoing transformation initiatives while staying true to its mission of serving and uplifting curvy women,” Gupta continued.

Burlington Stores is further expanding its footprint in the Big Apple – this time inside of a landmark retail building.

The off-price retailer will open a new flagship store in the upscale Chelsea neighborhood of Manhattan this spring. Housed in the historic Siegel-Cooper Building, the new store will span two floors, and feature Burlington’s “reimagined and more elevated shopping experience,” along with a custom store design inspired by classic NYC iconography.

Burlington will join other off-price giants TJ Maxx and Marshall’s as tenants in the Siegel-Cooper building. The opening will mark Burlington's 74th store in New York state, and fifth in the borough of Manhattan.

Siegel-Cooper, and Co. opened what was at the time the largest department store in the world in 1897, taking up the entire block from 18th to 19th on 6th Avenue in Manhattan. The building was well known for its ornate architecture and massive scale.

[READ MORE: Burlington to fill empty Modell’s space in Westchester County]

Headquartered in New Jersey, Burlington Stores Inc. operated more than 1,200 stores in 46 states, Washington D.C. and Puerto Rico at the end of its most recent fiscal quarter. At Burlington stores, guests can find fashion-focused women’s apparel, menswear, youth apparel, beauty products, decor and more at prices up to 60% lower than other retailers.

Jeff Kreshek, a 15-year veteran of Federal Realty, one of the nation’s longest established REITs, has gotten a promotion.

Kreshek has been named as an executive VP at the company, which owns and operates mixed-use properties and shopping centers such as Assembly Row in Boston and Grossmont Center in the San Diego metro.

Since assuming the role of the company’s West Coast President in 2023, he has overseen a near 8 million-square-foot portfolio of centers in California and Arizona. 

"Jeff's leadership has helped shape the strength and reputation of our West Coast portfolio," said Federal CEO Don Wood. "He brings a rare combination of vision and operational discipline across the industry.”

Prior to joining Federal, Kreshek served as the leasing principal at The CIM Group and has served as an adjunct professor of retail development at the University of Southern California for the last 22 years.

[READ MORE: Speedy Stop taps NCR Voyix for digital upgrades]

A growing casual dining chain is on the hunt for a new finance chief.

First Watch Restaurant Group’s chief financial officer Mel Hope will retire later this year. The company has started the process to identify his successor, and is considering both internal and external candidates. 

First Watch says it is expected that Hope will remain CFO until his successor is determined, and serve as an advisor to the company for a period afterwards. 

Hope joined First Watch in 2018. During his career, which began in 1984, Hope served as CFO of Popeye’s Louisiana Kitchen, was a partner with PricewaterhouseCoopers, and held executive positions with several privately-owned organizations and startup ventures.

[READ MORE: Restaurant industry to see sales rise, jobs added in 2026]

“Mel joined us with decades of experience and was invaluable in guiding our IPO process,” said First Watch president and CEO Chris Tomasso, who has led the company since 2018. “For nearly eight years, he has served as a steady hand and confidant – ushering our company into multiple stages of growth and success. In true Mel fashion, he has positioned us well for this next phase – complete with a strong financial leadership team in place and his commitment to work with us through his successor’s transition.”

First Watch is a “Daytime Dining” concept that officers guests make-to-order breakfast, brunch and lunch options. Founded in 1983, the chain now operates more than 630 restaurants across 32 states.