Retail

When The Mall at Bay Plaza opens to the public in 2014, adjacent to the highly successful outdoor Bay Plaza Shopping Center, it will be heralded as the first enclosed fashion mall in the New York City area in nearly 40 years.

That’s big news. Particularly at a time when new development has taken a back seat to redevelopment of existing assets.

New York -- Modell’s Sporting Goods will celebrate the grand opening of its store in Arlington, Va., on May 9.
   
The store is located in Pentagon Centre. With its opening, Modell’s will have a total of 154 storefronts.
 
“We are thrilled to have our 18th store in the Virginia-Maryland area,” said Modell’s president and CEO Mitchell Modell. “We look forward to becoming a stronghold in our new community and getting them everything they need for the summer.”
 

New York -- RKF has arranged a 1,500-sq.-ft. lease at 35 Crosby Street in SoHo for men’s e-commerce apparel brand Bonobos, which will open its first stand-alone Guideshop location in New York City.

Bonobos currently operates five other brick-and-mortar locations elsewhere.

In the cast iron district of SoHo, the retailer will operate in 1,000 sq. ft. on the ground floor and 500 sq. ft. on the lower level of the seven-story building. The new store is slated to open in mid-May.

Cary, N.C. -- Indianapolis-based Kite Realty Group announced that Petco has leased 12,500 sq. ft. at Parkside Town Commons, located in Cary, N.C.
 
As well, Total Wine & More has leased 23,890 sq. ft. at International Speedway Square, in Daytona Beach, Fla.

Virginia Beach, Va. -- Divaris Real Estate has announced the completion of several leases for retail space in Virginia Beach, Norfolk and Richmond, Va.  
 
The first lease was signed with O’Reilly Auto Parts for 12,608 sq. ft. in a former Rite Aid pharmacy located in Norfolk.  O’Reilly operates 13 other stores in Hampton Roads.
 

Montreal -- Jesta I.S. said Monday it has expanded its relationship with Canadian shoe store operator Town Shoes, parent to the Sterling Shoes, Shoe Warehouse and Freedman Shoes banners, to include the implementation of the multichannel order management capabilities delivered by Vision E-DOM.

In deciding to implement Jesta I.S., Town Shoes will further leverage its existing IT infrastructure, at the backbone of which are Vision’s foundational Merchandising ERP and POS systems.

Jacksonville, Fla. -- Stein Mart reported Monday that it has restated its 2011 periods and first quarter 2012 results, released its full-year 2012 financial numbers, and said it will unveil several key initiatives in 2013.

For the fourth quarter, net income was $13.5 million, compared to $5.9 million last year. Sales surged 11.4% to $368.6 million from $331 million, and same-store sales increased 6% in the quarter.

By Greg Caster, managing director, Accenture Retail

Most incoming CEO’s put together a ‘100-day plan’ as they embark on the new role. In the case of Mr. Ullman, it is his second 100-day plan at J.C. Penney. But the world and company is very different from December 2004 when he wrote his first plan, and this one will be written in the knowledge that he is the interim CEO for a company in crisis.