Apparel

New York -- Aeropostale announced the retirement of president Michael Cunningham, effective March 29. He will remain on the board of directors.

Boston -- No Rest for Bridget, based in Irvine, Calif., will make its East Coast debut in mid-March, opening a 1,300-sq.-ft. location on Boston’s Newbury Street.

The fast-fashion retailer specializes in affordable women’s clothing and accessories to 20- to 39-year-olds.

The store’s build-out is being handled by A&O Danner Companies, Plymouth, Mass., which is working with D2 Construction of Costa Mesa, Calif.

Shrewsbury, N.J. -- National Realty & Development Corp. said Tuesday that Colonial American Bank has joined the line-up of tenants at Shrewsbury Plaza, located in Shrewsbury, N.J.

Colonial American Bank’s location in the 225,000-sq.-ft. shopping center is the bank’s second location in New Jersey and is slated to open spring 2013.

Anchor tenants at the center include Marshalls, Acme and AC Moore.

PITTSBURGH — American Eagle Outfitters has agreed to a mutual termination of its license agreement in China, Hong Kong and surrounding markets with Dickson Concepts (International) Limited. Consistent with its long-term global expansion strategy and the importance of this market, the company took the opportunity to exit its agreement and will assume operation of six existing stores in China and Hong Kong.

New York -- Cache announced that it has appointed Jay Margolis as chairman and CEO of Cache. Concurrent with the appointment, Thomas Reinckens will step down as chairman and CEO.
 
Margolis most recently served as president and CEO of Limited Brands’ Apparel Group (Express and Limited Stores), where he was responsible for revamping the product line and leading the successful operational turnaround of the businesses. Prior to Limited Brands, he was president, COO & director of Reebok International.
 

FOOTHILLS RANCH, Calif.  —  The Wet Seal Inc. on Friday announced that its COO is resigning as the struggling retailer initiates a corporate workforce reduction as part of a broader cost-saving initiative. In other moves, it will shutter two poor-performing Arden B stores.

The struggling chain, which also authorized a $25 million stock buyback program, said president and COO Ken Seipel resigned effective immediately. His position will not be filled. Instead, Seipel's duties will be shared between CEO John Goodman and CFO Steve Benrubi.

New York -- The Jones Group Inc. said Monday it has appointed Joseph Stafiniak to the newly created position of SVP merchandising of Nine West, effective immediately.

Stafiniak will operate as the lead merchant for Nine West, overseeing merchandising strategies and the execution of product to meet the expanding needs of the brand's global business.

Stafiniak comes to Jones Group from Coach, where he most recently served as SVP licensed categories.

NEW YORK — Iconix Brand Group has gained a controlling stake of the apparel brand, Buffalo David Bitton from Buffalo International.

Iconix now owns 51% of the brand and as part of the deal, formed a new joint venture company with Buffalo International. Iconix will control this joint venture and consolidate its results.  Buffalo International will be the core licensee for the new joint venture.