Department Store

Houston — Mattress Firm Holding Corp. announced the promotion of Alex Weiss to executive VP and CFO of the company, effective July 30, 2014, the beginning of the retailer’s third fiscal quarter.  He succeeds Jim Black who transitions into the role of senior corporate advisor to Mattress Firm through the end of the current fiscal year.

Virginia Beach, Va. — Free People has signed a lease for 3,200 sq. ft. at the Town Center of Virginia Beach. The retailer plans to open its doors in the fourth quarter of 2014.

Fort Worth, Texas — Trademark Property Co. is managing the major expansion and renovation of Saddle Creek in the Memphis, Tenn., suburb of Germantown.

Demolition has commenced on 20,000 sq. ft. of existing space on the southwest side of Poplar Avenue and West Street, with work scheduled to begin soon on 40,000 sq. ft. of new retail space for that area.

New York — Sycamore Partners announced Monday that it bought the going-out-of-business Coldwater Creek brand and other intellectual property through an affiliate company during the  apparel chain’s  bankruptcy proceedings.  The private equity firm said it plans to re-launch Coldwater Creek as an independent portfolio company, but it did not give a timeline for the launch.

Terms of the acquisition weren’t disclosed.

Jos. A. Bank continued the positive trend of increases in adjusted earnings that it saw in the second half of 2013. Comparable brand sales increased by double digits in the first two months of the first quarter, and despite slowing down after Easter, still resulted in an 8.4% increase.

Cincinnati, Ohio — Phillips Edison & Co. has appointed Robyn Capuano Hays senior leasing director for The Shoppes at Parma, a $70 million redevelopment of the former Parmatown Mall, currently underway in Parma, Ohio, not far from Cleveland. The project includes an enclosed shopping mall, power center, strip center, outparcels, restaurants, and office space.

U.S. retailers reported 5% year-over-year growth in general merchandise, apparel, furniture and other (GAFO) retail sales. According to monthly figures from in-store retail analytics provider Euclid, shoppers made fewer trips to the store than expected, but were very engaged and showed a lot of intent to buy.

Euclid also reported 7% growth year-over-year in clothing and apparel sales and 2% growth year-over-year in general merchandise sales. Shopper traffic declined 11% compared to the same month last year, as travel plans appeared to cannibalize leisure time.

New York — Wal-Mart Stores named  Greg Penner, 44, to the new role of vice chairman, a move that positions him to be a successor to chairman Rob Walton. Penner, 44, is Walton’s son-in-law and has served on the board since 2008. The appointment was announced Friday morning at the company's shareholders' meeting.

The move strengthens the Walton family’s control of the board. Walton, 69, is the son of Wal-Mart founder Sam Walton.