Mass Merchant

ABILENE, Kan. — Broad-line retailer ALCO Stores asserted that it is off to a favorable start this holiday season, after reporting a 2.7% in sales from continuing operations for the quarterly period ending November 25.

CINCINNATI — Good news for Macy’s, which has closed the cash tender offer by its wholly owned subsidiary, Macy’s Retail Holdings, Inc., to purchase up to $700 million in aggregate principal amount of its outstanding debt securities.

“Through this transaction and our recent debt issuance, we have successfully improved our debt maturity profile and decreased our ongoing interest expense,” said Karen M. Hoguet, Macy’s, Inc. CFO.

Birmingham, Ala. -- Bayer Properties announced that, through a joint venture between it and institutional investors advised by J.P. Morgan Asset Management, has acquired The Avenue Webb Gin outdoor mixed-use shopping center from Atlanta-based Cousins Properties.

CHICAGO — OfficeMax EVP and president of OfficeMax Workplace John Kenning has been appointed to the board of the Chicagoland Chamber of Commerce.

The appointment comes just seven months after Kenning joined OfficeMax to lead the retailer’s contract division that was renamed OfficeMax Marketplace earlier this month.

Tianjin, China -- Global architecture and interior design firm, tvsdesign, celebrates the opening of Galaxy Mall, the retail portion of Tianjin's new Cultural Center District, which opened in October 2012. With 360,000 square meters of total building area, Galaxy Mall ranks among the top five largest retail complexes in China, and is more than 80% leased.

Secaucus, N.J. -- The Children's Place Retail Stores Inc. reported Monday that its CFO Steven Baginski has resigned the company, effective immediately.

According to the retailer, Baginski is leaving to pursue other interests.

Former COO and CFO of The Talbots Inc., Michael Scarpa, has been named Baginski’s successor, effective Dec. 3.  

Scarpa also worked at Liz Claiborne Inc. for 25 years.
 

With an eye on expansion, both from customer engagement and operational perspectives, retailers are eager to revitalize their brands and overall shopping experiences, according to industry experts. The upcoming 102nd annual NRF Convention & EXPO, produced by The National Retail Federation, Washington, D.C., promises to educate attendees on these and other business strategies.

Each year, in December, Chain Store Age publishes a retail overview of the northeastern quadrant of the United States and, each year, there’s not a lot of bad news to report, even in recessionary times. This year is no exception; in fact, despite a superstorm that ravaged much of the region, the economic engine continues to chug along.