Department Store

Los Angeles – American Apparel has relocated its Aix-en-Provence store in France. Set in a former private hotel, the new location features an open, single floor layout and flower garden.

The shop maintains much of the building's early architecture including stone walls, a fireplace (transformed into a shoe display) and double front doors depicting the city's emblem of two lion faces. With history dating back to the 16th century, it marks the company's oldest interior in Europe.    

Conway, Ark. -- The Central Landing retail development now underway in Conway, Arkansas, has added Dillard’s as a key anchor for its first phase, according Jim Wilson & Associates and partner the Conway Development Corp.

Redmond, Wash. – Microsoft Corp. is reportedly negotiating to open a new store on Fifth Avenue in Manhattan. According to the New York Daily News, the site is only a few blocks from Apple’s large “glass cube” store in New York.

Miami Beach, Fla. -- Terranova Corp. and Acadia Realty Trust have reportedly agreed to sell six retail buildings on Lincoln Road in Miami for $342 million. According to the Miami Herald, the buildings were purchased for a combined $191 million in 2011 and 2012, marking a $151 million profit in a few years.

Tenants include Starbucks, Fossil, and A/X Armani Jeans. The deal is with an unnamed institutional investor and is not yet completed. It ranks as the most expensive retail real estate transaction in Miami history.

New York – Ann Inc. expects to report a 2.3% decline in consolidated same-store sales for the second quarter of fiscal 2014. Total company net sales are now expected to be $648 million.

Austin, Texas – Zales has the highest annual percentage rate (APR) on its private label card out of 61 U.S. retailers surveyed by CreditCards.com. According to the study, the retailers with the five highest maximum APRs are:

1. Zales, up to a 28.99% APR;
2. Office Depot Personal Credit, up to a 27.99% APR;
3. Staples Personal Account, up to a 27.99% APR;
4. My Best Buy, up to a 25.24% and 27.99% APR, depending on your credit score; and

Despite positive performance through mid-June, the remainder of the second quarter proved more challenging for Ann Inc., prompting the company to reduce its outlook for the second quarter so it reflects lower-than-anticipated comparable sales and gross margin rate performance.  

President and CEO Kay Krill cited soft traffic across the industry and a highly promotional environment, but added that — despite delivering a positive comp for the quarter at Ann Taylor — a disappointing performance at Loft offset results.

Toronto – Canadian Tire Corp. has named Michael Medline, who has served as company president since November 2013, as president and CEO effective Dec. 1. Current CEO Stephen Wetmore has agreed to remain on the board of directors in a new, non-executive position of deputy chairman.