News

Department store retailer enters new market
Von Maur has opened its first location in Wisconsin. The family-owned company opened a 150,000-sq.-ft. store at The Corners of Brookfield in Brookfield, Wisconsin. Von Maur has been expanding with its eye on a national footprint. After expanding beyond its Midwestern footprint in 2011 with the opening of its first location in Georgia, Von Maur has since grown in additional new states including New York, Alabama and Oklahoma.
Consumer electronics retailer to close all stores
The going-out-of-business sales have started at Hhgregg. The bankrupt retailer began liquidating its assets on Saturday, April 8, after failing to find a buyer. The chain said it expects to close all of its 220 stores by the end of May.

Detroit power center changes hands

Shelby Crossings, a 76,390-sq.-ft. power center in the Detroit suburb of Utica, has been acquired by Beverly Hills, Michigan-based Grand Management & Development. Mid-America Real Estate Corp., which represented the seller in the transaction, could not disclose the price. The property features the Bed Bath & Beyond subsidiaries Christmas Tree Shops and BuyBuy Baby, and is surrounded by a larger regional center anchored by Target and Planet Fitness.
Report: Gaming retailer targeted by hackers

GameStop is the newest data breach victim. The gaming retailer is investigating reports that hackers may have siphoned credit card and customer data from its website, according to security news firm KrebsonSecurity.
Forever 21 in big rollout of sister banner

Forever 21 announced a major expansion of its F21 Red division. The fast-fashion retailer plans to open more than 40 F21 stores across the United States in 2017. The first three are scheduled to open in April, in San Antonio, Texas; Bronx, New York, and Chicago. New locations will continue to open throughout the year in key cities, bringing the brand’s total store count to more than seventy locations by year-end.
Footwear retailer makes global debut with new flagship in Toronto

Footaction opened the doors to its newest flagship store — its first outside of the United States. The store, which is located in the Toronto Eaton Centre in Canada, features 6,500 square-feet of premium retail space. Presenting a unique layout, the new Footaction store is organized largely by brand, rather than by product category — a move that enhances the customer shopping experience.
Stage Stores closes Gordmans deal

Stage Stores is officially adding Gordmans stores to its portfolio. Stage Stores closed on its previously announced acquisition of selected assets of Gordmans Stores, the Omaha, Nebraska-based department store chain that filed for Chapter 11 on March 13.
Report: Eastern Outfitters LLC seeks speedy store closures

Eastern Outfitters could soon be adding to the surge of store closings among U.S. retailers. The company won a court order on Thursday, April 6, for an expedited hearing on its plan to shutter 48 of the 86 stores its operates under the Bob's Stores and Eastern Mountain Sports brands, according to Reuters.
CEO of specialty apparel chain out

The fashion retailer known for its bold, colorful designs is losing its chief executive. Benetton Group’s Marco Airoldi will resign as of May 16. The board accepted his resignation on Tuesday. Airoldi joined the company in 2013 – first as a consultant, then as CEO and managing director. During his tenure, he has contributed to the definition and subsequent launch of the company’s refocus and relaunch plan, which targets a selection of markets, stores and the Benetton Group brands.
Luggage e-retailer purchased by iconic travel brand

eBags is about to embark on a new journey. The online luggage retailer is being acquired by Samsonite International. The deal, which is valued at $105 million, is part of Samsonite’s ongoing strategy to accelerate the growth of its direct-to-consumer, e-commerce business, and strengthen its existing digital capabilities, the company reported.