Department Store

York, Pa. -- The Bon-Ton Stores announced that Keith E. Plowman, executive VP and CFO plans to retire in August. His departure will be followed by an 18-month consulting stint.

The retailer will undertake a national search to find a CFO to succeed Plowman.

New York -- The outlook for the retail industry looks bright, with lower prices at the pump and decreasing unemployment boding well for consumer spending. Retail sales are expected to rise 4.5% in 2015, which is about one percentage point stronger than 2014 growth, according to a report by Kantar Retail, whose analysis excludes automobile dealers, and gas and food service.

Huntsville, Ala. -- GBT Realty Corporation announced even more retail development in northern Alabama with The Shoppes of Albertville.  Just off the heels of two similar projects recently announced in the regional market, GBT is developing an $18 million, 135,000-square foot retail center along Albertville’s primary commercial corridor.  The company acquired the 13.2 acres on Dec. 29 and construction is currently underway.

Glendale, Calif. -- Cypress Equities companies announced that LA Fitness, Buffalo Wild Wings and AT&T will open at Glendale Marketplace in 2015.

"This collection of synergistic new offerings will begin transforming the tenant mix at Glendale Marketplace," said Todd Minnis, chief investment officer.  "This is the first step toward our redevelopment process."

Foothill Ranch, Calif. – In a move that was somewhat expected, The Wet Seal Inc. has filed for Chapter 11 bankruptcy. The move comes a week after the struggling teen retailer said it was closing 338 of its stores, leaving it with approximately 173 stores nationwide.

“After careful consideration, the Board of Directors unanimously concluded that filing for Chapter 11 was the appropriate course of action for the Company,” said CEO Ed Thomas.

Spanish Fort, Ala. -- Dallas-based Cypress Equities has officially broken ground on a 3.5-acre park project, at Spanish Fort Town Center, in Spanish Fort, Alabama.  The park is part of a major site enhancement plan, which also comprises upgraded building facades, a freshly designed sign package, along with new store and restaurant offerings.

St. Petersburg, Fla. -- Josh Beyer, P.E., has been promoted to senior VP of Development at The Sembler Company, overseeing all shopping center development in Florida, the Gulf Coast, and the southeastern U.S.

Beyer has been with the company for 12 years and, in that time, has been involved with more than 1.5 million sq. ft. of development, including Colony Plaza (The Villages, Florida), Park Street Retail Center (St. Petersburg, Florida) and Cross Creek Village (St. Cloud, Florida).

New York -- Apparel manufacturer and retailer Kellwood has named Joseph Lombardi, the former CFO of Barnes & Noble, as CEO.

Lombardi joined Kellwood as CFO in 2013, and has three decades of retail experience across a variety of sectors, including apparel.