Footwear

Avon, Mass. – SelecTech, Inc., a provider of flooring products made from recycled materials, is launching a retail/franchise division. Based out of the company’s corporate headquarters in Avon, Mass., the new division will feature customer service and marketing representatives specifically dedicated to retail and franchise customers with multiple locations.

Covington, La. — Stirling Properties and JCH Development have closed on land acquisition and development financing for Magnolia Marketplace, a 106,000-sq.-ft. shopping center in New Orleans at the intersection of South Claiborne Avenue and Toledano Street. First NBC Bank of New Orleans provided financing for the project.

North Olmsted, Ohio — Marcus & Millichap Real Estate Investment Services has arranged the sale of North Olmsted Towne Center, a 95,446-sq.-ft. shopping center in North Olmsted, Ohio, approximately 17 miles southwest of Cleveland. The selling price was $17.79 million, $186 per square foot.

Towne Center tenants include David’s Bridal, The Tile Shop, Jimmy John’s, La-Z-Boy, Men’s Wearhouse, Moe’s Southwest Grill, Party City and Pearle Vision.

Los Angeles – Costco and Nordstrom were the number one and two ranked retailers in terms of their return policies, according to a new report from personal finance site GoBankingrates.com. Costco received kudos for having no time limit and full cash or check refunds, while Nordstrom got credit for having no formal return policy or time limit.

The Jones Group has accepted a buyout offer of $15 per share in cash, or a total of approximately $1.2 billion, from private equity firm Sycamore Partners. Upon completion of the deal, Jones, whose brands include Nine West, Anne Klein and Easy Spirit, will become a privately held company.

Moreno Valley, Calif. — Image, a junior fashion retailer, has re-opened at the Moreno Valley Mall in Moreno Valley, Calif., with a big brand new image. The new store has expanded to 10,000 sq. ft. and is located on the lower level between Crazy 8 and Sports Treasure, according to Spinoso Real Estate Group, the mall’s property manager.

Strong third-quarter sales at footwear retailer Finish Line and elevated expectations for the full-year were attributed to the company’s approach to integrated commerce.

Sales for the third quarter ended November 30 increased 22.9% to $364.5 million and same store sales advanced 7.1%. Profits increased to $2.3 million from a prior year loss of $107,000 at the operator 658 athletic footwear stores and 198 branded footwear departments at Macy’s.

Indianapolis -- Finish Line reported net earnings of $1.59 million in the third quarter of fiscal 2014, a return to profitability after reporting a net loss of $809,000 in the same period of the prior fiscal year.

Consolidated net sales were $364.5 million, up about 23% from $296.6 million and ahead of the $353 million projected by Wall Street.