Department Store

Dallas – Neiman Marcus is reportedly closing in on a deal to be purchased by Ares Management and the Canada Pension Plan Investment Board for $6 billion.

Dallas -- Tuesday Morning Corp. said it has appointed Jeffrey Boyer as executive VP, chief administrative officer and CFO, effective immediately. Boyer fills both the existing chief administrative officer vacancy and replaces outgoing CFO Stephanie Bowman.

Boyer previously was CFO, then COO of 24 Hour Fitness Worldwide, and has also served as CFO of Michael’s Stores and Kmart Corp.  

Macy’s is looking to enhance its appeal to Millennial customers by expanding its athletic apparel assortment, which will include Nike, the North Face, Under Armour, Calvin Klein Performance and Ideology, to more stores this fall and the addition of Helly Hansen in select locations. 

This expansion is part of the retailer’s Millennial strategy designed to attract a new generation of customers looking for trend, style and value. Macy’s will begin rolling out new product for men, women and kids to stores and on macys.com this month.

Pennsylvania Real Estate Investment Trust is repositioning its Moorestown Mall in suburban Moorestown, N.J., by bringing in tenants associated with urban life.

For instance, a number of new tenants include independent chef-owned restaurants like those found in urban edge neighborhoods.

The goal is to reposition the suburban mall with an urban environment.

GREEN BAY, Wis. — Shopko has teamed up with the Breast Cancer Research Foundation and apparel company West Coast Novelty Group, one of the organization's corporate sponsors, to offer an expanded line of Support the Cure merchandise at all Shopko stores. 

Warrendale, Pa. – Two independent proxy voting advisory firms, Institutional Shareholder Services (ISS) and Glass Lewis & Co., have both recommended that rue21 shareholders vote for a proposed acquisition by Apax Partners. As previously announced on May 23, 2013, rue21 entered into a definitive agreement under which funds advised by Apax Partners will acquire all outstanding shares of rue21 for $42 per share in cash.

WASHINGTON — The National Retail Federation confirmed that the retail industry added 43,600 jobs last month, particularly in general merchandise, electronics and clothing.

The numbers were based on calculations from the NRF, out of a total 169,000 jobs that the Bureau of Labor Statistics said the economy added in August, bringing the country's unemployment rate down to 7.3%.

New York -- Target Corp. will follow the lead of several other retailers, including Walmart, and allow shoppers to pick up select goods ordered online in its stores, the Star Tribune reported.

Target will introduce the service, referred to as Buy Online, Pick Up in Store (BOPS), in its hometown Minneapolis market and then expand it to all of its U.S. stores by Black Friday, according to the report.