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  • Stein Mart names Stein permanent CEO

    Jacksonville, Fla. – Stein Mart has named Jay Stein, its interim CEO since September 2011, as permanent CEO. Stein has been chairman of Stein Mart’s board of directors since 1989 and will remain in that position. He also served as CEO from 1990 to 2001.

  • Longview Plaza acquired by Morris-Floyd Capital

    Fort Worth, Texas -- The 15.5-acre Longview Plaza power center has been acquired by Morris-Floyd Capital Partners. Located in Longview, Texas, the property is 100% leased.

    Anchors include Bed, Bath & Beyond, T.J. Maxx, Michael’s, Office Depot, Best Buy and Books-A-Million. Sperry Van Ness brokered the sale. Longview Plaza Ltd. was the seller.

     

  • Neiman Marcus files for IPO; looks to expand outlet center format

    New York -- Luxury department store operator Neiman Marcus Inc. on Monday disclosed plans for a proposed public offering of up to $100 million.

    The retailer’s plan, announced in a regulatory filing, comes some eight years after it was acquired for $5.1 billion by private equity firms TPG Capital and Warburg Pincus. In its filing, Neiman Marcus indicated a desire to expand its outlet center concept, Last Call, which currently operates 35 locations.

  • The Terraces acquired by joint venture

    Washington, D.C. -- Combined Properties and its joint venture partner Saban Capital Group have acquired The Terraces, a 173,000-sq.-ft. community shopping center in Rancho Palos Verdes, a suburb of Los Angeles. Spread across three terraced levels, center retailers include Trader Joe’s, Marshalls, LA Fitness and Starlight Cinemas.

    The joint venture between Combined Properties and Saban Capital Group is assembling a $200 million portfolio of value-add retail centers in Southern California and the Washington, D.C., metro market.

     

  • A.T. Kearney: China top market for expansion by apparel retailers

    China -- China once again topped the A.T. Kearney’s 2013 Retail Apparel Index, which measures the market readiness of developing economies for international apparel retailers to enter. Other compelling expansion opportunities are offered by a number of countries from Latin America and the Middle East.

  • Neiman’s IPO to drive greater growth of discount format

    Sak’s and Nordstrom have aggressively expanded their off price formats in recent years and now Neiman Marcus wants a bigger piece of the action.

  • Los Angeles City Council bans plastic bags; rule to take effect in 2014

    New York  -- Los Angeles is on the fast track to becoming the largest city in the nation to move toward a ban on “single-use” plastic bags after the City Council passed a resolution barring their use in supermarkets, convenience stores and any big retailer, which would include Target and Walmart, that sells groceries.

  • Dollar General strikes gold at annual Stevie awards

    GOODLETTSVILLE, Tenn. — Dollar General received a Gold Stevie award for Company of the Year in Retail at the 11th annual American Business Awards in recognition of the company’s position as an industry leader in the retail sector.

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