Mass Merchant

Foxborough, Mass. -- Charter Realty & Development said that it has signed a lease with consignment boutique Chic 2 Chic at the Foxborough Plaza, a 118,844-sq.-ft. shopping center in Foxborough, Mass.

The 22,000-sq.-ft. store is a relocation from downtown Foxborough and is the company’s only current store in the state.

The Foxborough Plaza, owned and managed by WP Realty, is almost 100% occupied, anchored by Ocean State Job Lot, and also featuring Dollar Tree, Dunkin Donuts and Xtreme Fitness.

Washington, D.C. -- Total retail sales increased 0.1% in April from March, according to figures released Monday by the U.S. Commerce Department. The increase, an improvement from a 0.5% decline in March, beat the 0.3% drop economists had predicted in a Bloomberg survey.  

Excluding automobiles, gas stations and restaurants, sales  increased 0.6% seasonally adjusted from last month and increased 3.9% unadjusted year-over-year, according to the National Retail Federation.

New York – In what could be bad news for retailers, “mass affluent” consumers (those with $50,000 to $250,000 in investable assets) and Gen Y (age 18-34) are cutting back on spending to save for retirement. According to the Spring 2013 Merrill Edge Report, the average mass affluent investor expects to save $860,000 for retirement but has only saved $150,000. If given an extra $1,000 per month, 50% of mass affluent consumers would put it toward savings or paying down debt.

Dallas -- SRS Real Estate Partners said it has appointed Bob Taylor as senior VP in the New York office.

This is Taylor’s second stint with SRS.  In his first, he directed Hard Rock Café’s national expansion and relocation efforts. Taylor will be focused on tenant and landlord representation for the New York team, and returns to SRS from Cassidy Turley, The Staubach Co., and Staubach Retail.

CONSHOHOCKEN, Pa. — Former Gap executive Pamela B. Wallack has been named CEO of David’s Bridal, a U.S.-based specialty retailer of bridal gown and wedding-related apparel and accessories.

The specialty retailer is looking to leverage Wallack’s abilities to grow and improve well-known consumer brands to help drive the strategic initiatives underway at the company, including expanding the store base, bolstering the e-sommerce platform, enhancing customer experience and adding to the portfolio of high-fashion brands.

New York -- Big M, owner of the Mandee, Annie Sez and Afaze apparel chains, will be sold to YM Inc., Toronto, in a $22.5 million deal expected to be approved by a bankruptcy judge next week, The Record reported.
 
YM operates more than 600 young women’s specialty stores under a variety of banners, including Stitches, Urban Planet, Bluenotes, Siblings, and Sirens.   

NEW YORK — Target is beta testing a new app that allows users to save on items and share deals on Facebook.

A Bullseye View, Target's online magazine, announced the introduction of Cartwheel, where people can find offers on products by browsing the system or looking at friends' activites, and add up to 10 of their favorites to a list. Once a red check appears in the corner of the offer card, the item can be purchased, and customers can either print a special barcode from their desktop computers or use their mobile devices in-store to access it.

RESTON, Va. — E-commerce sales grew 13% year-over-year to $50.2 billion, marking the fourteenth consecutive quarter of positive year-over-year growth and tenth consecutive quarter of double-digit growth, according to comScore. It was also just the second quarter on record to surpass $50 billion in spending.

The survey also revealed that nearly half (48%) of time spent in the retail category occurred on mobile devices, with smartphones (34%) outpacing tablets (14%).