Department Store

Barneys New York has promoted its COO to the top job.   Daniella Vitale has been named chief executive officer of the New York-based upscale specialty retailer.    Vitale replaces Mark Lee, who is retiring and will assume the role executive chairman. Lee joined Barneys as chief executive in 2010. He is credited with turning the business around. Lee previously served as CEO of Gucci, and also held positions at Yves Saint Laurent, Armani and Jill Sander. He started his career at Saks Fifth Avenue. 

Kristin Grove, most recently director of leasing for GGP, has joined JLL as VP of National Retail Leasing. Grove will be based in Los Angeles and oversee leasing efforts and merchandising strategy for retail space on the West Coast.  

After a decade-long increase, Valentine’s Day sales may be less rosy this year.   U.S. consumers are expected to spend an average $136.57, down from last year’s record-high $146.84. Total spending is expected to reach $18.2 billion, down from $19.7 billion last year, which was also a record, according to the National Retail Federation and Prosper Insights & Analytics, which surveyed 7,591 consumers about their Valentine’s Day plans.  

Eighty retail real estate executives from CBRE recently gained the distinction of being the first class to graduate from a course designed to give field professionals a deeper knowledge of rapidly evolving retail business models and how they influence site selection.  

Despite a volatile global retail environment, Coach increased sales and profits for its fiscal second quarter.   The luxury handbag and accessories retailer reported revenue of $1.32 billion for the quarter ended December 31, 2016, up 4% from $1.27 billion last year. The retailer’s net income was $200 million, up from $170 million in 2015.  

Chain Store Age has launched our annual search for 10 individuals in retail real estate we call “retail stars;” all will be featured in the May 2017 issue of CSA with bonus distribution at the International Council of Shopping Centers’ RECon event in Las Vegas!     The award recognizes people under the age of 40 who are making an impact in retail real estate – whether from the tenant (retail) or the landlord (shopping center company) side.  

A retail veteran is leaving Brooks Brothers to join Destination XL Group.   The men’s specialty apparel retailer has named Sahal Laher as its senior VP, chief digital and information officer, effective Monday, Jan. 30.   Laher, Brooks Brothers’ former executive VP of digital innovation and technology and global CIO, will be the principal architect and leader of DXL’s digital commerce strategies and IT/MIS operations. Laher will also be a member of the company’s executive committee.

Groundbreaking on a 500,000-sq.-ft. shopping center in Southern California has been postponed due to changes in the developer’s plan ‘and a need for improvements to the surrounding roadway.   The 50-acre site in Murrieta, a town of 103,000 people located halfway between Los Angeles and San Diego, was purchased by a limited partnership last year for $18 million. The owners are working with Caltrans for improvements needed on nearby Winchester Road.