Discount Store

Tuesday Morning Corp. has selected the chairman of its board to be the off-price retailer's next chief executive, ending a search that began in September.

Steven R. Becker becomes the Texas-based retailer's next CEO, effective immediately. Becker has led Tuesday Morning's office of the chairman since Sept. 28, when the Dallas-based retailer’s previous CEO, Michael Rouleau, announced his retirement. Previously Becker had served as the company's chairman of the board since 2012.

Stuart, Fla. -- Konover South announced the acquisition of 4.43-acres of land for its new 30,587-sq.-ft. Stuart Landings retail center in Stuart, Florida, for $2.25 million.

The center will be located at SE Federal Highway and SE Miami Ave., which shares U.S. 1 access with an adjacent Walmart Supercenter. Stuart Landings will feature a 17,837-sq.-ft. Aldi, a 3,500-sq.-ft. Aspen Dental with additional lease negotiations underway.

A merchant that grew from a small boutique in West Hollywood with a celebrity clientele to a multi-store operation is going out of business.

Kitson announced that it is closing its 17 stores, which are located in California, Oregon and Nevada. As of December 11, its e-commerce site had already been shut down.

Weak traffic at Saks 5th Avenue stores did not keep Hudson's Bay Company from reporting higher sales and profit in the third quarter.

For the third quarter ended Oct. 31, the company posted a profit of $1 million, compared with a $13 million loss a year earlier. Total sales increased 34% to $2.57 billion, up from $1.91 billion. Consolidated sales growth was 34.1%, up $653 million from prior year with same-store sales growth of 12.9%. But Saks Fifth Avenue logged a same store sales decrease of 3.6%.

Walmart confirmed that its CMO, Stephen Quinn, who had held executive marketing positions with the chain for 10 years, will retire in January.

Michael Francis, Target Corp.'s former marketing guru, has been hired as a consultant. Francis spent 26 years at Target and most recently served as global brand officer for DreamWorks Animation. In August, he announced that he planned to step down from Dreamworks.

If there was a single theme at the recently concluded ICSC Deal Making Conference in New York City, it was “possibilities.” New projects, new ideas, new trends and a sense of optimism were on display.

Former Target Chief Marketing Officer Michael Francis will reportedly serve as a marketing consultant at Walmart when the retailer’s current CMO steps down.

New York -- Time Equities acquired four Wisconsin multi-tenant retail assets for $18.1 million, spanning 307,668 sq. ft. in total. The acquisitions, consisting of two separate transactions, include The Geneva Commons purchased for $1.3 million, in addition to Oak Creek Centre, Park Plaza and Taylor Heights acquired for $16.8 million.