News

Good vibes, but serious concerns, emerge from New York show
The good vibes, as well as the negative rumblings, that percolate through big events are an annual check on the pulse of an industry. In the case of retail real estate, I am happy to report that the positives seemed to outweigh the negatives at ICSC’s Deal Making show in New York last week. Let’s start with the good stuff.
New CEOs to Watch in 2017
The past year brought with it seismic shifts as the retail industry continued to adapt to the evolving digital landscape and changing shopping habits. It also brought with it a changing of the guard, as many companies anointed new leaders to steer their ships in a transformed marketplace. Here are six newly arrived (or soon to arrive) CEOs to keep an eye on in 2017: Jeff Gennette, Macy’s Inc.

Chairman of Pier I Imports to fill in as CEO

Still on the hunt for a new chief executive, Pier 1 Imports has tapped its chairman to serve in the role on an interim basis. The home furnishings and décor retailer has appointed Terry E. London, chairman of the board, to the position of interim president and CEO. His appointment takes effect on January 1, 2017, in conjunction with the planned departure of Alex W. Smith, the current president and CEO of Pier I, on December 31, 2016.
Sears Canada banks on a new category to boost sales

To inject new life into its struggling chain, Sears Canada is hopes its newest venture will lure in shoppers — especially foodies. A new partnership with two specialty supermarket operators is enabling Sears Canada to run high-end markets at dedicated locations. The chain is banking on grocery shoppers’ frequent store visits to bolster store visits, Canadian Grocer reported.
Gap exec joining parent company of Men’s Wearhouse

The new year will bring a new finance chief to Tailored Brands.
Teen apparel retailer ups the ante on store-level customer engagement

Tilly’s is making a bold move in driving omnichannel experiences in-store. Armed with Aptos’ cloud-based Singular Commerce platform, the teen apparel retailer can now integrate all omnichannel operations and data at store-level, giving users one complete view of customers, inventory, orders, and the customer’s overall path-to-purchase.
Amazon Prime Video makes big global expansion play

Amazon Prime Video just made a massive move expanding its global reach. The pure play’s video streaming service is now available in 200 countries, including The United States, the United Kingdom, Germany Austria, France, Canada, Japan, and other major markets, including India — a move that allows it go toe-to-toe with its biggest streaming competitor, Netflix.
Retail sales inch up in November

The start of the holiday shopping season did not bring with it a big jump in retail sales. Retail sales, excluding automobiles, gasoline stations and restaurants, increased 0.1% in November, according to the National Retail Federation, less than many analysts had expected.
American Apparel gains court approval of bankruptcy loan

American Apparel witnessed a bright light in its ongoing financial saga. The beleaguered specialty retailer has court approval to use the remainder of its $30 million bankruptcy loan. American Apparel filed Chapter 11 in November, its second filing in 15 months.
Owner of Famous Footwear acquires made-in-the U.S. footwear retailer

Allen Edmonds, the nearly 100-year-old men’s footwear and accessories brand whose products are handmade in Port Washington, Wisconsin, has a new owner. Caleres announced it has acquired Allen Edmonds from private equity firm Brentwood Associates for $255 million. In addition to operating stores under the Famous Footwear banner, Caleres has a diverse portfolio of footwear brands.