Department Store

By Karen Lowe, [email protected]

Disappointing second quarter sales at Macy’s prompted the nation’s leading department store operator to temper its outlook for the remainder of the year, heightening concerns about the health of the consumer just as other major retailers are due to report financial results in the weeks ahead.

Sales declined 0.8% to slightly more than $6 billion and same store sales fell by a similar amount during the second quarter period ended August 3. Profits increased 7.5% to 72 cents from 67 cents, but that figure was six cents less that analysts forecast.

Albany, N.Y. -- Veteran retail executive Martin Hanaka has been appointed to the board of directors of Trans World Entertainment. Hanaka recently was the interim CEO of Guitar Center, Inc. from January 2013 to April 2013.

ALBANY, N.Y. — Trans World Entertainment has appointed veteran retail executive Martin Hanaka to its board of directors. Hanaka recently was the interim CEO of Guitar Center, Inc. from January 2013 to April 2013.

MENOMONEE FALLS, Wis. — Kohl’s Department Stores has donated $2 million throughout a three-year period to the Milwaukee Art Museum to continue the Kohl’s Art Generation program, a youth art education initiative.

J.C. Penney said activist investor Bill Ackman resigned from the company’s board and was replaced by former Federated Department Stores executive Ron Tysoe.

Chicago — Saks Fifth Avenue Off 5th, Old Navy and Carter’s have inked leases for space at The Mayfair Collection, a 270,000-sq.-ft. shopping center in Wauwatosa, Wis. Nordstrom Rack, Dick’s Sporting Goods and Ulta Beauty have also made lease commitments to the project.

HSA Commercial Real Estate, the developer, broke ground on the project in April. HSA Commercial is adaptively repurposing an obsolete warehouse development into The Mayfair Collection retail shopping center.

Bentonville, Ark. -- Wal-Mart’s South African subsidiary Massmart Holdings Ltd reportedly seeks a 67% ownership stake in Kenyan retail chain Naivas Supermarkets Ltd. According to Bloomberg, which on Monday reported Naivas was one of several possible Kenyan chains eyed by Massmart for possible expansion, serious talks with Naivas have occurred.