News

Fast-growing home décor retailer taps Sally Beauty exec as chief marketer
At Home has appointed veteran marketer Ashley Sheetz as chief marketing officer. Sheetz was formerly chief marketing officer and group VP at Sally Beauty, where she led a turn-around strategy to reposition and modernize the brand. Prior to that, Sheetz held a variety of marketing leadership roles at GameStop before being appointed chief marketing officer in 2012.
$33 million renovation planned for Hawaii’s largest mall
Washington Prime Group has announced a $33 million renovation plan of Pearlridge Center in Aiea, Hawaii, near Pearl Harbor. The 1.2 million-sq.-ft. property is the largest retail center in the state, consisting of Uptown and Downtown complexes joined by a monorail.

Off-pricer expanding

Nordstrom Rack is bullish on Chicago. The retailer announced plans to open a store at Mellody Farm in Vernon Hills, Ill. The property, which is being developed by Regency Centers, is located 30 miles north of downtown Chicago. The approximately 30,000-sq.-ft. store, scheduled to open in fall 2018, will be the 15th Rack store in Chicagoland following the announcement of new locations in Kildeer, Ill., and Schererville, Ind., which are opening this spring.
Survey: Retail execs optimistic about 2017

Retailers executives are bullish on 2017. That’s according to a survey from TD Bank, which polled 173 retail executives at the National Retail Federation’s annual Big Show in New York City. Seventy-four percent of the retailers said they believe sales will increase in the next 12 months. What’s more, 81% of the retailers reported that they met or exceeded their revenue goals in 2016. In other key findings:
Founder sells Art Van Furniture to private equity firm

The owner of one of the largest independent furniture chains in the country has sold his company to a private equity firm approximately 58 years after he founded it.
Here’s one company not singing the holiday blues

EBay Inc. reported its fourth consecutive quarter of sales gains amid a successful holiday, which saw it run its first-ever U.S. television commercial. The online marketplace said that sales for the fourth quarter rose 3% to $2.4 billion. Net income rose to $5.94 billion, fueled by a $4.6 billion income tax benefit.
Warby Parker, Palo Alto, Calif.

Warby Parker has set up shop in downtown Palo Alto in a Spanish Colonial Revival building built in 1927. The hot eyewear retailer has a knack for combining its signature library-inspired design details, which include walnut shelving, terrazzo tiled flooring, and plush leather seating, with unique elements in each location. In Palo Alto, a mural of original illustrations by artist Maira Kalman adds color and a touch of humor.
First Look: Lululemon opens London flagship

Lululemon Athletica has opened a community-centric, European flagship on Regent Street in London. The two-level, 6,344-sq.-ft. store is the brand’s second largest in the world, second only to its New York flagship. Designed by Dalziel & Pow, London, the new Lululemon combines the latest in technology with a locally-inspired design and community experiences. A palette of greys and marbles with hints of bronze help make for a soothing escape from the hustle and bustle of the city streets.
Target lobbies against tax proposal

Although it’s only one of many tax proposals being floating around, the so-called border adjustment tax has raised a red flag among many retailers. The CEO of Target Corp., Brian Cornell, recently visited Washington to lobby against the House Republican proposal, according to Fortune, which noted the visit was first reported by Politico.
PwC: Outlook good for deal activity in 2017

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.