Department Store

Canada no longer top priority for U.S. retail expansion

During the past few years, U.S. and international retailers have flocked to Canada in the hunt for top-line growth as store portfolios matured in the United States and there were fewer opportunities for expansion. In fact, many U.S. retailers considered Canada to be an extension of their domestic businesses due to the similarities and close proximity to their home offices.

Ten years ago, demographic experts predicted a looming talent shortage: When the massive baby boom generation retired, the small Generation X would not have enough experienced leaders and managers to fill the positions that boomers would vacate.

New York -- Aeropostale Inc. will close approximately 125 of its mall-based P.S. from Aeropostale kids’ stores by the end of its fiscal year and cut about 100 corporate jobs as part of a larger turnaround effort.

Houston, Texas — Baker Katz has acquired four retail properties throughout the greater Houston area — in the neighboring cities of Port Arthur, Lake Jackson, Beaumont and Tomball.

The Port Arthur property is a 90,000-sq.-ft., single-tenant building purchased from the Sutherland Lumber Co. for an undisclosed amount. Baker Katz plans to renovate the building and convert it to a multi-tenant space. Hobby Lobby has signed a 58,000-sq.-ft. lease, and Party City has signed a lease for 13,000 sq. ft.

Teen specialist Aéropostale lent credence to the “malls are dying” voices by announcing the closure of 125-mall based stores and the elimination of 100 headquarter positions.

Citing changing shopping patterns among moms, Aéropostale said it planned to close 125 of its 150 P.S. from Aéropostale stores which focus on kids ages four through 12. The move is part of a larger cost reduction program related to a turnaround strategy that is expected to result in annual savings of $30 to $35 million.

Eleven centers opened last year, with 50 more on the drawing boards

The recession lit the fuse that has produced an explosion of outlet center development.

New York -- Uniqlo will continue its expansion in the United States by entering the Los Angeles market. The Japanese retail powerhouse announced it will open five stores in the Los Angeles area, starting in August, at South Coast Plaza, Costa Mesa, followed by a location at Glendale Galleria, Glendale, in September.
   
In October, the company will open at the Beverly Center, Los Angeles, and Northridge Fashion Center, Northridge. In spring 2015, Uniqlo will open a store at Los Cerritos Center in Cerritos.  

Indianapolis – Hhgregg Inc. has hired Troy H. Risch as COO. Risch joins Hhgregg from RadioShack, where he served as executive VP of store operations.

Prior to this, Risch held a variety of operational leadership positions with Target Corp., including executive VP of stores. Risch will assume the COO position on May 5, 2014.