Department Store

Beachwood, Ohio – Shopping center operator DDR Corp. is commencing a multi-year proactive lease termination initiative aimed at recapturing high-quality anchor store locations across its portfolio. Through this initiative, DDR is collaborating with retailers in the books, electronics, toys, office and traditional department store categories to right-size their real estate footprints by regaining control of locations in advance of natural lease expiration.

Los Angeles – Guess on Thursday reported a first-quarter net loss of $2.1 million, compared with net earnings of $9.9 million in the year-ago period, as sales fell in North America and Europe.

"First quarter earnings results were slightly better than our expectations,” said Paul Marciano, CEO. “We delivered revenues within the range of our guidance and managed our expenses tightly.”

Sales fell 4.8% at $522.5 million, compared with $548.9 million in the prior year.

Omnichannel retail company Delia’s, which markets apparel, accessories and footwear to teenage girls, is looking for a new CFO. Current financial chief David Dick has resigned and will remain with the company through Aug. 1.

Addison, Texas — Cadence McShane Construction Company has completed the renovation and new construction assignment at Golden Triangle Mall in Denton, Texas, on behalf of owners GTM Development Ltd., a joint venture created by Cencor and The MGHerring Group.

Hollywood, Calif. - Frederick's of Hollywood Group Inc. shareholders approved, at a special meeting of shareholders held May 28, the previously disclosed merger agreement that provides for the acquisition of the company. The merger was approved by more two-thirds of the aggregate voting power of the company's common stock.

New York -- Jo-Ann Fabric and Craft Stores named Jim Wright as senior VP of marketing and advertising, and Megan Featherston as senior VP of merchandising.

Wright has served in multiple marketing leadership roles at national retail brands. He was most recently senior VP of marketing at Express where he was responsible for their brick-and-mortar and e-commerce advertising and marketing strategies.

Washington, D.C. -- Online shopping is showing rapid growth compared to the rest of the retail trade sector, with the number of establishments growing 27.4% between 2011 and 2012, according to new U.S. Census Bureau statistics released today. Drawn from County Business Patterns: 2012, the new data provides the only detailed annual information on the number of establishments, employees and payroll for nearly 1,200 industries at the national, state and county levels.

Off-price department store operator Gordmans reported another quarter of weak sales under the control of private equity ownership as its searches for a full-time CEO and eyes e-commerce expansion in 2015.