News

Kevin Scott is joining Microsoft in the newly created role of chief technology officer (CTO).   Scott most recently served senior VP of infrastructure at LinkedIn, which Microsoft purchased in June for $26 billion.   

A combination of factors, including innovation, cross-border deal interest and the availability of cash reserves, bodes well for deal activity in the retail and consumer markets.   That’s according to a review by PwC, which reported that the retail and consumer deals market ended 2016 with an increase in deal volume and a decline in deal value when compared to 2015.   

The omnichannel experience continues to raise the bar on the customer experience at Office Depot — all while taking a toll on labor.  

Target Corp. is entering the mobile payments arena.       Following similar moves by such competitors as Walmart and Kohl’s, the discounter plans to introduce mobile payment features to one or more of its own apps, according to a report by Recode.   

The CEO of Lane Bryant has stepped down just four months after receiving a big promotion.      Linda Heasley has resigned as chief executive of plus-sized apparel retailers Lane Bryant and Catherines, which are owned by Ascena Retail, The New York Post reported. Heasley was appointed CEO of Lane Bryant in 2013, after a successful six year stint as chief executive of The Limited. She was given the additional title of CEO of Catherines this past October as part of a company reorganization.    

Following its success in renovating another center in the Florida town of Jupiter, Elion Partners had embarked on a renovation of Jupiter Reserve, which will be re-christened as Pennock Square.   Plans for the 43,172-sq.-ft. center include a cosmetic makeover to a more contemporary look, new signage, and parking and landscaping upgrades.    Elion’s re-do of the nearby Fresh Market Village inspired the effort.  

Forest City announced it has closed on the sale of Shops at Bruckner Boulevard in the Bronx to Urban Edge Properties for $32 million. The seller expects to net $9.2 million in the transaction.  

Luxury Brand Holdings, parent company of Ross-Simons and Sidney Thomas, has appointed James M. Speltz as president.    Speltz will join the company’s board and oversee all business activities. Most recently, he was COO for Teikametrics, a software and service provider to Amazon.com third-party merchants.  

Albertsons appointed Narayan Iyengar as senior VP, digital marketing and e-commerce.   Iyengar will be responsible for leading all aspects of digital marketing, including loyalty programs, shopper marketing and the company’s overall digital presence, as well as Albertsons’ e-commerce business, including home delivery.   

An historic department store building that closed its doors and has been empty for 30 years — long enough for a tree to start growing inside it — has been given a brand new lease on life.