Saks Fifth Avenue

Toronto -- Hudson’s Bay Company named Paul V. Beesley as CFO, effective in June.

Beesley is a senior executive with extensive experience in financial management and strategic development across a range of leading Canadian-based companies. From 2000 to 2014, he served in a number of executive roles with Empire Company Limited, a corporation with annual sales in excess of $19 billion and operations in retailing and related real estate, including chief corporate development officer of the Sobeys unit and executive VP and CFO of Empire.

Discount retailing has undergone a major transformation in recent years

Toward the end of 2008, it became painstakingly obvious to retailers that impulse spending was out and frugal saving was in. Faced with an imminent recession, staggering job loss and quickly depleting discretionary and savings accounts, consumers began to shift their focus to value. The impact of such a large-scale economic event and an abrupt consumer focus shift would appear to alter the fundamental realities of retail.

Phillips Edison is transforming The Kenwood Collection. The Kenwood Collection is returning the favor.

Phillips Edison & Company has grown by acquiring troubled shopping centers in good locations, redeveloping and improving the tenant mix. Over the years, the company has continued to optimize retail property value with its complete operating platform providing a diverse range of retail solutions. Today, the Phillips Edison portfolio contains more than 260 shopping centers across the country.

Eleven centers opened last year, with 50 more on the drawing boards

The recession lit the fuse that has produced an explosion of outlet center development.

Los Angeles – The board of directors of Guess Inc. has appointed Joseph Gromek, increasing the number of directors to seven and bringing the total number of independent directors to five. Gromek will also serve on the Compensation and Nominating and Governance Committees of the board.

Guess? has appointed Joseph Gromek to its board, increasing the number of directors to seven and bringing the total number of independent directors to five. Gromek will also serve on the compensation and nominating and governance committees of the board.

Toronto -- Hudson’s Bay Company’s net profit for the fourth quarter fell to $29.1 million from $86.8 million in the year ago period, amid higher expenses.

The company’s sales for the quarter, ended Feb.1, rose 74% to $2.41 billion, largely driven by the inclusion of Saks, which it acquired in November 2013. Same-store sales rose 6.6%, with an increase of 5.2% at its namesake stores, a 3.1% increase at Saks, and a decline of 1.3% at Lord & Taylor.

Chicago, Ill. — Whole Foods Market has signed a 45,150-sq.-ft. lease to anchor the second phase of The Mayfair Collection, a large-scale, mixed-use development in Wauwatosa, Wis. It will be the specialty grocer’s second store in the Milwaukee metropolitan area.

Plans for the second phase of the center also include approximately 50,000 sq. ft. of junior anchor retail space, a mix of upscale bars and restaurants, a bank branch and a 140-room hotel.