Department Store

North Plainfield, N.J. — David Reiner has joined retail real estate services firm Levin Management as VP of leasing. Most recently, Reiner served as director of real estate for Body Central Stores Inc.

During the past 25 years, he has also has held executive- and management-level retail leasing positions with property owners such as Urban Retail Properties, Colonial Properties Trust, and Simon Property Group.
 

New York -- Fitch Ratings downgraded the credit ratings of Sears Holding Corp. from “CCC” to “CC,” citing the “magnitude” of the retailer’s drop in profitability and lack of visibility to turn operations around as a significant concern.

Fitch also cited the company’s cash burn rate, calling it a “significant concern.”

Jacksonville, Fla. - Stein Mart is opening six new stores in fall 2014 as part of its 2014 store expansion plan that calls for  nine new locations, strategically selected in key growth markets, and seven relocations. The openings will bring the company's total nationwide store count to more than 270.

Menomonee Falls, Wis. – Kohl’s Department Stores is launching an omnichannel partnership with lifestyle brand Juicy Couture. Juicy Couture products are now available at Kohl’s stores nationwide and at the dedicated URL Kohls.com/JuicyCouture.

Niles, Ohio – Discount apparel retailer Gabriel Brothers opens a new store at the Eastwood Mall Complex in early November. The new 64,900-sq.-ft. store will open in the McKinley Centre section of the complex, near PetSmart and Big Lots.

The Eastwood Mall Complex offers more than 200 department stores, specialty shops, restaurants and entertainment options. The Eastwood Mall Complex is owned and managed in association with Cafaro-affiliated companies, based in Youngstown, Ohio.

Fort Worth, Texas – Analyst firm Wedbush Securities is reportedly advising clients that a bankruptcy is “imminent” at RadioShack. According to Barron’s, Wedbush has lowered its target price for RadioShack to $0, citing concerns including inability to secure lender approval for 1,100 proposed store closings and general weakness in the consumer electronics sector.

Chesapeake, Va. -- Dollar Tree Inc. and Family Dollar Stores Inc. announced, as expected, they have received a second request for information from the U.S. Federal Trade Commission in connection with Dollar Tree's pending $8.5 billion deal to acquire Family Dollar.

Mahwah, N.J. - Ernest LaPorte has joined Ascena Retail Group Inc. as senior VP/chief accounting officer. LaPorte will oversee Ascena’s accounting, financial reporting and accounting shared service functions.

For the last seven years, LaPorte held the position of senior VP/controller at Saks Inc. Prior to Saks, LaPorte worked at the Movado Group Inc. as VP of finance and principal accounting officer and Barnes & Noble, where he spent six years in finance.