News

A retail crossroads continues to expand in Texas
New shopping center construction may be in a nationwide lull, but not in Tarrant County, Texas, where a developer is poised to break ground on a 90-acre parcel flanked by two other sizeable centers. A partnership controlled by the De La Vega Group will begin building a mixed-use project called The Citadel across Interstate 35 from Alliance Town Center and adjoining the newly opened Presidio Town Center north of Fort Worth. Upon its completion, retail space will top 2 million sq. ft. in the submarket.
Board changes at Ahold
Ahold Delhaize on Wednesday announced that management board member James McCann had resigned to move into non-executive and advisory roles. The company has named Kevin Holt, Delhaize America CEO and Ahold Delhaize management board member, as his successor.

New year will bring new CEO to VF Corp.

VF. Corp., whose brands include The North Face, Timberland and Nautica, will have a new chief executive come January. The company announced that president and COO Steven E. Rendle will become CEO, effective Jan. 1, 2017. Rendle, 57, will succeed Eric C. Wiseman, who will continue to serve as executive chairman and work with Rendle to ensure a successful transition. Rendle has more than 30 years of experience in the specialty outdoor and action sports industry, 16 of which have been with VF.
Signet Jewelers closes Leonard Green strategic investment

Signet Jewelers Limited has closed its previously announced investment from Leonard Green & Partners. The private equity firm invested $625 million in the form of convertible preferred shares. The Signet board, as previously disclosed, increased its authorized share buyback program by $625 million on August 25, 2016, in connection with the transaction.
Advance Auto taps Amazon exec as finance chief

Advance Auto Parts has appointed Thomas (Tom) Okray as executive VP, CFO, effective Oct. 31, 2016. In a previously announced succession plan, Okray will succeed Mike Norona, who will remain with Advance Auto in an advisory role until the end of the year.
UGG makes a loyalty play

UGG is driving a new level of engagement with loyal shoppers. Starting today, shoppers nationwide are invited to join UGG Rewards, a loyalty program that awards shoppers with points for every purchase. The program, which was launched as a pilot among a limited customer base between September 2015 and June 2016, is now available to shoppers in-store and online throughout the United States.
Grocer in online turkey move for Thanksgiving

At a time when grocers are seeking ways to differentiate their e-commerce model, Natural Grocers is making a bold move just in time for Thanksgiving. As an increasing number of shoppers are using online resources to make more informed decisions before making a purchase, Natural Grocers is launching an e-commerce service that enables shoppers to research and order their holiday turkey, and pick it up at their preferred store.
Black & Decker reportedly interested in buying Sears’ Craftsman brand

Tools and storage giant Black & Decker is reportedly among the suitors interested in purchasing Sears’ Craftsman line of tools, Bloomberg reported. Sears announced plans in May that it would consider options for its Craftsman, Kenmore and DieHard brands.
Ralph Lauren goes high-tech with LA flagship

Ralph Lauren has added some high-tech flourishes to its redesigned flagship on Rodeo Drive in Beverly Hills, Calif. The 22,000-sq.-ft. store has an interactive handbag salon that allows shoppers to customize handbags — with options on monogramming, color and hardware — before the bag is actually produced, the Los Angeles Times reported.
Twin Cities mall slated for $76 million makeover

One of Minnesota’s highest-volume malls is about to get a $76 million renovation that will give it new retail space and sight lines and – more rare these days – a new department store tenant. Rosedale Center, a 1.14-million-sq.-ft. property situated between the Twin Cities of Minneapolis and St. Paul, will soon break ground for a two-level Von Maur store and parking deck with 1,100 spaces, according to owner JLL. Macy’s and J.C. Penney already do business there.
Study: Consumers frustrated by chip-card progress

Consumers’ lack of enthusiasm around the value of chip card usage could impact the upcoming holiday season. This month marks the year anniversary of the introduction of mandated Europay, MasterCard, Visa (EMV) chip card payments at retail stores across the United States. However, high levels of consumer frustration and confusion remain widespread, according to new research published by Cayan, a payment technology provider.
Nominations open for most influential women in retail tech

Who are the leading women working in retail technology? Chain Store Age is accepting nominations for its annual feature recognizing female executives who are helping to transform the retail industry through technology. The “Top 10 Women in Tech” will celebrate the achievements of female executives from all areas of retail technology. The winners will be profiled in a special section of the January 2017 issue of Chain Store Age, as well as in an online report on chainstoreage.com.