Direct To Consumer (DTC)

San Juan -- Taubman Centers and New Century Development announced Friday the groundbreaking on the 650,000-sq.-ft. Mall of San Juan, the island's first luxury retail development. The $405 million, two-level mall will feature the first Saks Fifth Avenue and Nordstrom in the Caribbean.  

Of the approximately 100 stores and restaurants, it is expected that 60% will be new to the island.

Foothills Ranch, Calif. -- The Wet Seal Inc. said Thursday it has dropped its temporary shareholder rights plan, citing feedback from stakeholders, and has proposed to expand its board to include two nominees of activist investor Clinton Group.

In July, Clinton Group, which owns approximately 7% of Wet Seal, called for a sale of the retailer, expressing dissatisfaction with its performance, and made a play for four seats on the board. In response, the retailer adopted a temporary shareholder rights plan with a 10% trigger.

Chicago -- A real estate report released Wednesday by Mid-America Real Estate Corp.’s Urban Team found that much of Chicago lacks the type of product that today’s downsized big-box retailers are looking for.

Widespread media reports have Walmart discontinuing the sale of Amazon’s popular Kindle devices, which begs the questions what took so long and will we ever see a Walmart tablet.

Walmart’s decision to begin selling the Kindle was one of the more wrong-headed moves the company has ever made. A Kindle is Amazon’s version of a Gillette razor, essentially a device that provides consumers a portal to purchase Amazon’s other inventory, or in Gillette’s case, more blades. Target wisely gave Kindle the boot earlier this year.

Suffern, N.Y. -- Ascena Retail's net income plunged 94% in its fiscal fourth quarter, dragged down by costs related to its acquisition of Charming Shoppes Inc. Its adjusted earnings topped Wall Street's view.

Ascena, owners of the Dressbarn, Maurices and Justice, announced in May that it was buying Charming Shoppes, whose divisions include Lane Bryant, Fashion Bug and Catherines Plus for approximately $890 million. Ascena is in the process of closing Fashion Bug's stores.

RH is the new name for familiar home goods retailer Restoration Hardware.

The company said the switch to the RH acronym positions the brand to curate a lifestyle beyond the four walls of the home which is reflective of the current positioning and future direction of the luxury home goods brand.

Former VF Outdoor CFO Dan Templin has joined Eddie Bauer as COO and CFO.

With the addition of Templin, current Eddie Bauer CFO Marv Toland was named to the newly created role of SVP of direct with responsibility for the brand’s e-commerce and catalog businesses.

Eddie Bauer CEO Mike Egeck characterized Templin as a seasoned outdoor industry executive whose responsibilities at VF Outdoor, with leading brands such as The North Face, Vans, JanSport and Timberland, will benefit Eddie Bauer.

Bellevue, Wash. -- Eddie Bauer LLC said Monday it has named Daniel E. Templin as COO and CFO of the company.

Templin was previously CFO for VF Outdoor, which includes brands such as The North Face, Vans, JanSport and Timberland.

Eddie Bauer also announced that current CFO Marv Toland will move into the newly created role of senior VP Direct with responsibility for the brand's e-commerce and catalog businesses.