Old Navy, LLC

Gap Inc. continues to enjoy momentum at its namesake Gap stores and Old Navy units which pushed total company results up 8% to nearly $3.9 billion.

Results were strongest at Gap and Old Navy stores where comps increase 6% while Banana Republic comps declined 1%.

“We are pleased with our second quarter performance overall, and we’re focused on continuing our momentum as we move into the second half of the year,” said Glenn Murphy, chairman and CEO of Gap Inc.

Dallas — Cypress Equities has acquired the Glendale Marketplace in Glendale, Calif. The 154,420-sq.-ft. open-air retail and entertainment center is adjacent to the Americana at Brand.

National retail brands represented in the center include HomeGoods, Old Navy, Starbucks, GNC and Outback Steakhouse.

SRS Real Estate Partners will represent Cypress in lease negotiations.

Miami, Fla. -- Famous Footwear has renewed its 8,000-sq.-ft. lease at Kendall Village Center in Miami, Fla., according to Berkowitz Development Group www.berkowitzdevelopment.com. The transaction maintains the 95% occupancy level at the 426,000-sq.-ft. open-air shopping and office destination. Retail space totals 276,000 sq. ft.

Major tenants include the Regal 16-plex Stadium Seating Theater, Old Navy, Gap, Nova Southeastern University, Pier 1 Imports and LA Fitness.

San Francisco – Gap Inc. substantially improved upon its June 2012 same-store sales performance and beat analyst expectation with a 7% increase in same-store sales last month. In comparison, the retailer’s same-store sales were flat in June of last year and were only expected to rise 4.7% in June of this year, according to estimates from Retail Metrics.

Sales at Gap’s Old Navy helped drive the overall increase. Same-store sales at Old Navy rose 13% in June as a result of seasonal summer promotions.

New York -- U.S. retailers' June sales suggest overall consumer spending is improving, even though lower-end shoppers are holding back on nonessential purchases. Same-store sales increased 3.9% in June compared to the year-ago period, according to a preliminary tally of 12 retailers by the International Council of Shopping Centers. The association had expected a 3% to 3.5% increase.

SAN FRANCISCO — The Gymboree Corporation has appointed former Levi Strauss & Co. executive Joelle Maher as the company's new COO.  

At Levi Strauss & Co., Maher was most recently EVP, president global retail, and prior to that SVP of Americas multi-channel retail, and VP, planning, allocation, stores, store operations and outlet. She also held executive leadership positions at Lucky Brand Jeans, Old Navy and Macy's East.

San Francisco -- The Gymboree Corporation has appointed former Levi Strauss & Co. executive Joelle Maher as the company's new COO.  

At Levi Strauss & Co., Maher was most recently executive VP, president global retail, and prior to that senior VP of Americas multichannel retail, and VP, planning, allocation, stores, store operations and outlet.

She also held executive leadership positions at Lucky Brand Jeans, Old Navy and Macy's East.

Bryn Mawr, Pa. -- WP Realty has acquired Plaza at the Pointe, a 149,016-sq.-ft. center located near Pittsburgh in the Parkway West retail submarket.

Anchor tenants include Bed, Bath & Beyond, Old Navy, La-Z-Boy and Party City. An additional 21,556 sq. ft. anchor space is currently vacant.

Latitude 40, a recently redeveloped 60,000-sq.-ft. entertainment center, and a number of national retailers shadow-anchor Plaza at the Pointe from adjacent properties.