Discount Store

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.

Washington, D.C. - Consumers this year will celebrate Mother’s Day keeping practicality in mind. According to NRF’s 2014 Mother’s Day Spending Survey conducted by Prosper Insights & Analytics, Americans will spend an average of $162.94 on Mother’s Day in 2014, down 3.5% from a survey high of $168.94 in 2013. Total spending is expected to reach $19.9 billion.

Atlanta — Inland Real Estate Group has acquired Hitchcock Plaza in Aiken, South Carolina, for $28.9 million. JLL represented the seller, Hendon Properties, in the transaction.

Ross Dress for Less, T.J.Maxx, Bed Bath and Beyond, Old Navy and Academy Sports anchor the 252,097-sq.-ft. center.

Tuesday Morning Corporation has added Frank M. Hamlin, EVP of marketing at Guitar Center, and Sherry M. Smith, who most recently served as EVP and CFO of Supervalu, to its board.

Hamlin will serve on the nominating and governance committee, while Smith will serve on the audit and compensation committee.

Dallas - Tuesday Morning Corp. has named Sherry M. Smith, who most recently served as executive VP and CFO of SuperValu Inc., and Frank M. Hamlin, who currently serves as executive VP of marketing at Guitar Center, as independent members of the company's board of directors, effective immediately.  

Hamlin will serve on the Nominating and Governance Committee and Smith will serve on the Audit and Compensation Committee.

Stein Mart’s board of directors has appointed D. Hunt Hawkins and Brian R. Morrow to share the newly created office of the president. Both men will continue to report to CEO Jay Stein.

"Hunt and Brian have made significant contributions in the success of the company," said Stein. "Their promotions are a testament to their leadership that has built a team that has produced seven consecutive quarters of comp store gains, a dramatic departure from the achievements of past management, and reflect the confidence the board and I have in them."

New York -- Forever 21 will debut a new retail concept on May 3, at Azalea Shopping Center in South Gate, California. Called F21 Red, the format will offer fast-fashion and low prices.

The new concept will offer a larger selection of starting price points, including $1.80 camisoles and $7.80 denim for women and girls, according to a report by California Apparel News. The men’s selection will include T-shirts and tank tops for $3.80.

The National Association of Chain Drug Stores has elected new officers, one new executive committee member and three new board of directors members for the coming year during its annual meeting this weekend.

John Standley, chairman and CEO of Rite Aid, was elected as the new NACDS chairman of the board of directors. Standley succeeds Robert Narveson, president and CEO of Thrifty White Pharmacy. Additionally, Juan Ortiz, CEO Navarro Discount Pharmacies, was named vice chairman and Randall Edeker, chairman and CEO Hy-Vee, was elected treasurer.