Retail

By Paul Jeruchimowitz, [email protected]

San Diego -- Sony Electronics is revving up its retail expansion, opening the doors to three newly remodeled Sony Stores and several brand new Sony Gallery experiences during the past few months. The company also unveiled a smaller-store format called Sony Gallery.

Following the debut of the redesigned Sony Store in the Simon Mall Stanford Shopping Center in Palo Alto, Calif., Sony announced it will open three new concept stores located in Miami, San Diego, and Orlando, Fla. The remodels will bring the total of U.S. redesigned stores to eight.

Tiffany & Co.’s dazzling jewel box in downtown Manhattan’s SoHo neighborhood captures the retailer’s signature elegant feel and  heritage of craftsmanship. The interiors of the 7,000-sq.-ft. store, the jeweler's third outpost in New York City, were designed by select artisans who put their own spin on some traditional Tiffany design motifs.

New York -- A New York State Supreme Court Judge ruled on Friday that J.C. Penney’s could temporarily sell certain housewares products from Martha Stewart Living in Penney stores. The ruling allows Penney to sell the product under the “JCP Everyday” label until a final decision comes at the end of the trial.

New York -- The Deloitte Consumer Spending Index ticked down slightly in March, but has remained relatively steady with a reading over 4.0 the past five months. The Index tracks consumer cash flow as an indicator of future consumer spending.

New York -- Overstock.com founder Patrick M. Byrne has returned as CEO of online discount retailer.

Byrne took a medical leave of absence in February to address cardiac issues thought to be associated with cancer treatments received much earlier in his life.

New York -- J.C. Penney Co. has hired the Blackstone Group explore how best to position the firm financially and help it raise cash, the Wall Street Journal reported.

The company is reportedly seeking $1 billion in cash, according to the Wall Street Journal, which added that options could include selling a minority stake. Penney already has been in contact with several private equity firms about a potential investment, according to the report.  

New York -- A report by the Wall Street Journal on Friday said that hedge fund Barington Capital Group is pressing Jones Group Inc. to slim down by divesting parts of its portfolio.

Citing an unidentified source, WSJ said that Barington – in a meeting earlier this month – urged Jones to hire financial advisers to analyze many of the company’s 35-plus to pare down the portfolio and focus on its core and emerging brands.