News

Luxury home décor brand to open experiential store
Frontgate is looking to create a unique shopping experience at its new location in Dallas. The luxury home decor and furnishings retailer will open what it called its first experiential store in late May, in the Dallas suburbs. The 22,000-sq.-ft. store will be located at Legacy West, a luxury retail development in Plano, Texas. Frontgate reaches most shoppers through its catalogs and website. The also company operates a handful of brick-and-mortar locations.
7-Eleven to expand in New Jersey
7-Eleven is in the process of widening its presence in New Jersey from the New York City suburbs to southern shore towns. The convenience store chain’s leasing company in the area, R.J. Brunelli, says it is searching for 2,800-sq.-ft. to 3,000-sq.-ft. free-standing or end cap units in Union, Ocean, Monmouth, Mercer, and Middlesex counties. Suburban sites must be situated on roads with minimum traffic counts of 15,000 vehicles a day and must have lot sizes of at least 12,000 sq. ft. to accommodate 10 parking spaces.

Clarion acquires Boston-area center

New York-based Clarion Partners has acquired Brookside Shops, a Trader Joe’s-anchored center in Acton, Massachusetts. The company did not disclose the purchase price. “Brookside Shops is a well-positioned retail center with excellent fundamentals located in a highly affluent trade area,” said Clarion director Gary Rufrano.
Walmart in new jobs commitment

Walmart, the nation’s largest private employer with nearly 1.5 million associates, plans to add 10,000 new retail jobs in its upcoming fiscal year, which begins on February 1, 2017. The discounter says the new jobs will be created through the opening of 59 new, expanded and relocated Walmart and Sam’s Club facilities as well as e-commerce services.
Specialty apparel retailer files Chapter 11

Limited Stores has taken another step in the liquidation process it started in December. The women’s apparel retailer announced on Tuesday it has filed for Chapter 11 bankruptcy protection. The chain also said it agreed to a "stalking horse" bid for its intellectual property and some related assets from an affiliate of private equity firm Sycamore Partners.
Leading pool supplies retailer sold

CVC Capital Partners has agreed to sell Leslie's Holdings to L Catterton and an affiliate of GIC. The financial details of the transaction have not been disclosed. Founded in 1963, Leslie's is the world's largest retailer of swimming pool supplies and related products.
Amazon wins patent for a funky-looking truck

Amazon has been issued a patent for the design of its Treasure Truck, a vehicle that cruises the streets of Seattle and is stocked with a couple of types of discounted products, Geek Wire reported. Users of Amazon’s mobile shopping app receive alerts on their smartphones about the deals, which are sold on a first-come, first-served basis.
NRF launches job training initiative

The NRF Foundation has brought together leading retailers and non-profits to launch a job training and credentialing initiative called Rise Up (Retail Industry Skills & Education). The program is designed to help people — regardless of education, background, economic means or age — acquire the skills they need to secure jobs in retail and advance into promising careers in every aspect of retail, from in-store to digital and mobile commerce, according to the NRF.
Christopher & Banks CEO out amid disappointing sales

Christopher & Banks Corp. on Tuesday announced the departure of its CEO, effective January 17, 2017, and also lowered its fourth quarter guidance after a dismal holiday season. The women’s apparel retailer said LuAnn Via, president and CEO, has departed the company. Also out: board chairwoman Lisa Wardell.
Tiffany creates new exec position for Coach veteran

Tiffany & Co has appointed Reed Krakoff to the newly created position of chief artistic officer. Krakoff, who previous worked with Tiffany on the re-launch of its gifts, home and accessories collections, will join the company on Feb. 1. He will direct design for Tiffany & Co. brand jewelry and luxury accessories, and also lead the brand’s artistic and design vision with respect to stores, e-commerce, marketing and advertising.