eCommerce

Youngstown, Ohio -- Shopping center owner Cafaro Co. said Wednesday that Books-A-Million will fill vacant and soon-to-be vacant spaces in a lineup of its malls around the country.

Beginning in August, new Books-A-Million stores will open at Spotsylvania Towne Centre, Fredericksburg, Va.; Millcreek Mall, Erie, Pa.; and Meadowbrook Mall, Bridgeport, W.V.

Bentonville, Ark. -- A Wednesday report by Bloomberg said that Wal-Mart Stores has named Morten Knudsen as CFO for Asia, as the retailer recasts its leadership roles in the region amidst top-heavy turnover.

Knudsen, who was previously VP for corporate finance in Asia for Danone, takes the financial chief spot for Wal-Mart Asia effective Sept. 1.

Since May, Wal-Mart has lost Japanese chief Toru Noda and three of its top executives in China, including the CFO and COO Roland Lawrence and Rob Cissell, respectively.
 

Gaylord, Mich. -- Birmingham, Mich.-based commercial real estate development firm Robert B. Aikens & Associates LLC announced Wednesday that it has acquired the Pine Ridge Square center, located in Gaylord, Mich.

At 189,000 sq. ft., Pine Ridge Square is home to Big Lots, Dunham’s, Bath & Body Works, GNC and Payless Shoe Source. The center currently has 30,000 sq. ft. available for lease.
 

Oak Brook, Ill. -- Inland Western Retail Real Estate Trust Inc. said Wednesday that Inland Western MDS Portfolio LLC, one of its wholly owned subsidiaries, has signed three leases with Hobby Lobby to occupy 227,450 sq. ft. of former Mervyn’s locations in California.

The three new stores, firsts to their respective markets, include a 76,211-sq.-ft. location in Temecula, a 76,248-sq.-ft. location in Roseville and a 74,991-sq.-ft. location in Rancho Cucamonga.

The stores are projected to open this fall.

SEATTLE - The nation’s leading online retailer late Tuesday reported a 51% increase in sales and better-than-expected profits as liquidation of former rival Borders began.

If it wasn’t already apparent, the juxtaposition of these events in the same week is a harsh reminder that pure-play online retailers have the ability to render conventional brick-and-mortar chains, or large segments of their business, obsolete despite efforts by the latter to pursue multichannel strategies that leverage physical infrastructures.

Amsterdam -- The Tommy Hilfiger Group said Wednesday it has named John Ermatinger as CEO of the company's Asia business, effective Aug. 1.

Ermatinger was previously president of Gap Asia Pacific for two years and president of Gap Japan for three years. Under his leadership, Gap successfully launched the brand in China.

By Sathish Kumar, [email protected]

New York City -- Robert K. Futterman & Associates said Tuesday it has arranged a long-term, 1,140-sq.-ft. lease for fine leather luggage and handbag retailer Ghurka at 781 Fifth Ave., located at 59th Street in the Plaza District. 

The new Ghurka flagship, which will augment an existing location at The Plaza Retail Collection, will occupy 915 sq. ft. on the ground floor and 225 sq. ft. in the basement at its new Fifth Avenue space.