Apparel

The Michaels Companies, named Denise Paulonis as executive VP – CFO, effective Aug. 29. The appointment is part of the retailer’s previously announced CFO succession plan.   Paulonis, currently senior VP – finance, succeeds Chuck Sonsteby, vice chairman and CFO. He will continue to serve as vice chairman and will retain executive responsibility for the growth and integration of Lamrite West and the management of Aaron Brothers stores.    

Signet Jewelers Ltd. reported its first drop in same-store sales in six years in its second quarter as the company continues to deal with rumors that it swapped expensive diamonds for cheaper stones.   Signet, whose banners include Zale, Kay Jewelers and Jared, posted a 2.3% drop in same-store sales in the quarter ended July 30. Wall Street analysts had expected a slight increase.   Net sales fell 2.6% to $1.37 billion.  

There’s no getting around it: It’s been a long, hot summer for the retail industry, one that many retailers will be happy to see end.

From the liquidation of The Sports Authority and Hancock Fabrics to the downsizing of Macy’s and Office Max (to name a few), the past few months have been full of angst as merchants struggle to find their way in a disrupted marketplace.

The good news is that many merchants are rising to the task. They are making the hard calls, however painful, and investments necessary to compete in today’s omnichannel world.

TRENDING STORES: Hello Kitty‘s pop-up café, at Irvine Spectrum Center in Irvine, Calif., has been drawing crowds since it opened in July. It’s housed in a shipping container that’s been painted pink and refurbished with a counter and dining patio area, complete with bistro tables and pink-and-white striped awnings. Character graphics adorn the exterior and interior container panels. The café will remain open for a year.

More and more these days, shopping center developers find themselves in the role of town planner. Once dedicated to creating pleasant spaces for people to shop in, they now are challenged to create places for people to live, play, eat and be entertained in. Build that, they’re told, and shoppers will come. But droves of millennials fleeing suburbs in search of more fulfilling urban lifestyles are giving developers an assist. In some cases, they’re hewing their own downtowns out of rough old sections of town. In others, old downtowns are remaking themselves to welcome this new city stock.

The Summit at Fritz Farm has signed CRU Food & Wine bar to a growing roster of gourmet dining establishments at the $156 million project under construction in Lexington, Kentucky.   The Summit, scheduled to open next spring, will feature 1 million-sq.-ft. of retail, 306 apartments, a boutique hotel, and 48,000 sq. ft. of Class A office space, according to developer Bayer Properties.   

Online brand enters brick-and-mortar space with style

Online menswear retailer Combatant Gentlemen has made the leap to brick-and-mortar with a sleek, streamlined space that speaks to its millennial audience.

It opened its first permanent retail store in July, at Santa Monica Place, Santa Monica, Calif., having previously opened pop-up shops in New York City and Los Angeles, and a showroom at its headquarters in Irvine, Calif. At 2,220 sq.

Los Gatos Village Square

Location: 15466 Los Gatos Boulevard, between California Highways 85 and 17 in Los Gatos, California

Size: 46,235 sq. ft.

Developer: Donahue Schriber Realty Group

Grocery anchor: Trader Joe’s

Key tenants: Pet Food Express, See’s Candies, The UPS Store, AAA Automobile Club, Baja Fresh Mexican Grill