Department Store

New York - Tiffany & Co. turned to a main competitor when it was time to find a new global business executive. Tiffany has named Philippe Galtié to the position of senior VP international, effective Aug. 17.

Galtié, 54, most recently held the post of Cartier’s international retail director. He began his career with a range of general management and global marketing roles at Moët-Hennessy, Mars Inc., Eridania Beghin Say and the Nestlé Group.

Gap Inc. continues to suffer from a lack of traffic to its stores and Web site, but the sales decline abated somewhat in June.

New York -- Crate & Barrel has nabbed a CEO from the executive ranks of a much more upscale competitor.

The home furnishings retailer named Doug Diemoz, currently chief development officer at Restoration Hardware, as CEO, effective Aug. 1. He replaces Sascha Bopp, who was named CEO in 2012 but left in August 2014. Crate & Barrel COO and CFO Adrian Mitchell has been interim CEO during the search for a permanent replacement.

New York -- Although the list of retailers reporting monthly sales has grown considerably slim over the past few years, a handful are still going public with the metric.

Costco Wholesale Corp. announced on Thursday that its same-store sales fell 1% in June, following a 1% drop in its most recent quarter (ended May 1), which was the chain’s first quarterly drop since 2009.

Headwinds from fuel price fluctuations and currency exchange rates lessened for Costco in June as the retailer posted a bump in same store sales.

The warehouse club reported net sales of $11.01 billion for the month of June, the five weeks ended July 5, an increase of 1% from $10.88 billion during the similar period last year. Same store sales, excluding the negative impacts from gasoline price deflation and foreign exchange, were 6%. 

Phoenix -- DTZ, a leader in commercial real estate services, announced that a limited partnership formed by Weingarten Realty Investors of Houston acquired The Summit at Scottsdale, a 190,408-sq.-ft. retail center anchored by Safeway and Target, for $54.1 million.

Donahue Schriber Realty Group, L.P., of Costa Mesa, California, was the seller of the property located on the southeast corner of Scottsdale Road and Ashler Hills Drive in Scottsdale, Arizona.

L Brands Inc. continues to surpass expectations as the parent company of Bath and Body Works and Victoria's Secret reported a bump in same store sales.

The company said net sales increased 3% to $1.207 billion for the five weeks ended July 4, compared to net sales of $1.176 billion for the five weeks ended July 5, 2014.  Same store store sales for the five weeks ended July 4, 2015, increased 3%.

Phoenix -- DTZ, a leader in commercial real estate services, announced the $52 million sale of Crossroads Towne Center in North Las Vegas -- a 148,791-sq.-ft. neighborhood retail center located on 16.34 acres -- on behalf of the sellers, a company formed by The Eagle Group, Los Angeles. The buyer was a company formed by Cornerstone Advisers of Santa Monica, California.