Tapestry, Inc.

Ninth annual survey supports adding value through redevelopment

In its ninth year, the annual Top Redevelopers survey continues to demonstrate the value of redeveloping and repositioning shopping centers. As always, the goals include refreshing, remodeling, tweaking, and sometimes demolishing and rebuilding with an eye to providing tenants with space that supports their goals. 

New York -- Coach reported a decline in first-quarter profit amid declining North America sales. The company had net income of $217.88 million, down from $221.38 million in the previous year.
 
Net sales for the quarter fell 1% to $1.15 billion from $1.16 billion a year ago, below analysts' estimate of $1.19 billion.

New York — INTIMACY (bra fit stylists) has opened a lingerie shop at 104 Fifth Avenue in the New York City’s Flatiron retail district. Faith Hope Consolo Chairman, and Joseph A. Aquino, executive VP of Douglas Elliman’s Retail Group, represented the landlord in the transaction. Stacey Robins Realty represented INTIMACY.

Other national and international brands with stores in the area include Aldo, Anthropologie, Banana Republic, Coach, J.Crew, Kenneth Cole and 7 for all mankind.

Indianapolis — Simon Property Group has announced the grand re-opening of the redeveloped The Shops at Nanuet, a 750,000-sq.-ft. open-air main street center in Rockland County, N.Y.

With the re-opening, three new anchors are making a debut: Fairway Market, open now, Regal Cinemas, opening in November, and 24-Hour Fitness, opening in December. They will join existing anchors Macy’s and Sears at the property.

CashStar, a digital gifting company, has named Ben Kaplan as the company’s president and CEO. In addition to his role as president and CEO, Kaplan remains a member of the company’s board of directors, to which he was appointed in August when he joined CashStar as COO.

Busan, South Korea — Shinsegae Simon, a joint venture between Shinsegae Group and Simon Property Group has announced the grand opening of Busan Premium Outlets, its third Premium Outlet Center in South Korea. The first two are located in Yeoju and Paju.

The new center is located on the southeastern tip of the Korean Peninsula and features 180 outlet stores. Fashion brands include Coach, Ermenegildo Zegna, Isabel Marant, Jill Stuart, Marc Jacobs, Roberto Cavalli and Vivienne Westwood.

Seattle -- Recreational Equipment (REI) named Jerry Stritzke as the company's president and CEO, effective Oct. 1, following an extensive national search. Stritzke most recently served as president and COO for Coach, which announced his resignation, effective Sept. 2.

DAVENPORT, Iowa — Von Maur has partnered with Brooks Brothers to sell the brand in its stores, making the retailer the second department store in the nation to carry the exclusive line.

The Brooks Brothers line will be available in six stores in fall 2013, and will expand to 13 in spring 2014.