Saks Fifth Avenue

Toronto -- One of the nation’s most venerable department store brands, Saks Fifth Avenue, has given a big boost to the retail revitalization of Lower Manhattan. Saks’ parent Hudson’s Bay Company has signed a lease with Brookfield Property Partners to open two stores in downtown Manhattan: a 85,000-sq.-ft. Saks Fifth Avenue store in Brookfield Place (formerly called the World Financial Center), and a 55,000-sq.-ft. Saks Off 5th store at One Liberty Plaza.

Woodbridge, Va. - Potomac Mills, an outlet and value retail shopping center in the Washington, D.C., area with more than 220 stores, is adding A|X Armani Exchange, Steve Madden, an outlet concept for Swarovski and a first-in-market location for Great American Cookies. Potomac Mills also recently added Factory Outlet, Kate Spade New York Outlet, Charlotte Russe and a first-in-state location for The Limited Outlet.

Niagara Falls, N.Y. -- Macerich announced that its outlet property Fashion Outlets of Niagara Falls USA will open the doors of its planned expansion on Oct. 23. The new expansion delivers nearly 175,000 sq. ft. and opens with 35 new tenants, and more to come in 2015.

Toronto – So far, the November 2013 purchase of Saks Fifth Avenue by Hudson’s Bay Company (HBC) is paying dividends. HBC reported strong results during the second quarter of fiscal 2014, including a shrinking of its net loss from $81 million in the second quarter of the prior fiscal year to $36 million.

Primarily due to the addition of Saks revenue, total sales climbed 87% to $1.77 billion from $948 million. Consolidated same-store sales grew 1.9%. Digital sales were $162 million, including $116 million from Saks.

Hudson's Bay Company is reaping the rewards of its acquisition last year of Saks. The company’s retail sales soared 86.6% to $1.8 billion, from $948 million in the prior year.

Consolidated same-store sales increased by 1.9% on a local currency basis, with increases of 1.1% at HBC’s department store group (DSG), 2.2% at Saks Fifth Avenue and 14.9% at Off 5th. Digital commerce sales totaled $162 million, including $116 million from Saks and growth of 82.2% at DSG.

New York -- Saks on Friday confirmed that five associates at its Fifth Avenue flagship were arrested in connection with credit card fraud. The investigation involved six individuals using stolen credit card information and impacted 22 Saks customers.

CATOOSA, Okla. — Cherokee Nation Businesses has partnered with commercial real estate developer Woodmont Outlets, an affiliate of The Woodmont Company, to potentially locate a new upscale retail development at Hard Rock Hotel & Casino Tulsa.

CNB has agreed to lease property west of the casino to Woodmont Outlets, which plans to invest $80 million into premium outlet shops to be called “Cherokee Outlets.”
 

The Children's Place has appointed Robert Vill as group VP of finance. He will report to Michael Scarpa, chief operating officer and CFO.

"Bob brings to The Children's Place a wealth of financial expertise in the areas of corporate finance, treasury and investor relations," Scarpa said. "I am very pleased to welcome him to our team."