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I have to admit it: I was shocked when I heard the news this week that Glen Senk, the widely-admired CEO of Urban Outfitters, was resigning.  Sure, the company wasn’t coming off the best of years, having battled lackluster sales throughout much of 2011. A series of fashion misses — nothing new in the always dicey world of women’s apparel — had taken their toll on profit as the retailer sought to clear slow-moving merchandise with deep discounts.

Fort Worth, Texas -- Edge Realty Partners announced several Sears concept planned openings in Texas. 

Sears Outlet leased a 30,577-sq.-ft. space in Ridgmar Town Square located in Fort Worth, Texas. Sears Appliance Showroom leased a 5,500-sq.-ft. space in Timber Creek Crossing in Dallas.

And Sears Outlet leased a 35,398-sq.-ft. space in Cottonwood Creek Village Shopping Center located in Allen, Texas.
 

San Francisco -- Williams-Sonoma Inc. said Thursday it has cut its fiscal Q4 earnings outlook below Wall Street expectations due to heavy holiday promotions levels.

The company said it had to offer discounts to entice shoppers this holiday season. Although earnings guidance has been reduced to below expectations, Williams-Sonoma’s revenue outlook remains in line with Wall Street, trimmed to a range of $1.24 billion to $1.26 billion. The company had previously expected revenue as high as $1.27 billion.

New York City --

The government said it would lift the current 51% ownership limit on foreign companies that sell just one brand of products — a group that would include such companies as Gap, Apple and Starbucks — if they met certain strict conditions, the report said.

New York City -- David Yurman on Wednesday announced that Glen T. Senk will join the fine-jewelry company as CEO, effective Feb. 27. Senk, who on Tuesday announced he was stepping down as CEO of Urban Outfitters, will take an ownership stake in the privately owned company.

Looking for a hit list of the hottest new stores outside of the United States? Check out of some of the contenders below. The information comes from the London-based retail consultancy echochamber.com.

Philadelphia -- Urban Outfitters announced Tuesday that Glen T. Senk has resigned as CEO, effective Jan. 9. The company named chairman and co-founder Richard Hayne as his replacement.

Senk, 55, joined the company in 1994 as president of Anthropologie. He became a director in 2004 and CEO in 2007. Senk indicated that he plans to pursue another opportunity, but that he will remain with the company for a period of time to assist management with the transition. He has also resigned from the board of directors.

New York City -- Tiffany & Co. reported Tuesday that sales growth weakened in the United States and Europe during the holiday season, although other regions experienced significant gains.

The company cut its yearly earnings guidance.