Old Navy, LLC

Macerich spent the weekend celebrating the opening of Green Acre Commons, an open-air congregation of big-box retailers adjoining its Green Acres Mall in Valley Stream, New York.   A fixture in the retail scene on the Queens-Nassau County border, the 1.8 million-sq.-ft. mall has served the area for more than 50 years with tenants such as Macy’s, J.C. Penney, Century 21, Express, and American Eagle. Last year, Macerich redeveloped and re-merchandised the south side of the property, creating a new entrance for Old Navy and H&M.

Park West Village

Location: Cary/Morrisville, North Carolina

Size: Approximately 750,000 sq. ft.

Owner: CASTO

Key tenants: Target, T.J. Maxx, Buy Buy Baby, Ross, PetSmart, Earth Fare, Chili’s, Travinia, Hallmark, Carter’s, Gander Mountain, Stone Theatres, Chico’s, White House Black Market, ULTA, Pier 1, Charming Charlie’s, Firebirds, Blackfinn Ameripub, LOFT, Starbucks

Who says you can’t go home again?   Certainly not Gap Inc., which appointed Jamie Gersch as the senior VP, chief marketing officer of its Old Navy banner, reported adage.com. She replaces Ivan Wicksteed, who left the company in March. She will come aboard at the end of October.  

There is a leadership change underway at Stein Mart.   Dawn Robertson resigned from her position of CEO and company direc-tor. D. Hunt Hawkins, the chain’s president and COO, has been named interim CEO.  

Smithfield Properties has sold five properties in Chicago to the Acadia Realty Trust for $150 million, reported the deal’s broker, Mid-America Real Estate Corp.   The properties were:   • North Kingsbury Center on the corner of North Avenue and North Kingsbury Street, with tenants including Old Navy, Pier 1 Imports, Blick Art Materials, and Modani Furniture.  

Gap Inc. unveiled preliminary results for the second quarter that were not very promising as Banana Republic continues to bleed. The retailer said revenue and same-store sales slipped for the month of July, and for the second quarter, which ended July 30. Gap’s net sales for the quarter were $3.85 billion, compared with $3.90 billion for the second quarter last year.

Gap Inc. unveiled preliminary results for the second quarter that were not very promising as Banana Republic continues to bleed.   The retailer said revenue and same-store sales slipped for the month of July, and for the second quarter, which ended July 30.   Gap’s net sales for the quarter were $3.85 billion, compared with $3.90 billion for the second quarter last year.  

Beset by declining sales, growing competition and changing consumer tastes, Ralph Lauren has launched an ambitious turnaround plan that includes a heavy brand emphasis.