News

Neiman Marcus scraps IPO
Neiman Marcus Group is not going public anytime soon. In a filing on Friday, the luxury department store retailer said it would withdraw its initial public offering, having determined "that it is not in its best interests" to proceed with the initial public offering at the current time.
Former Walmart executive joins Dollar Tree management team
Dollar Tree has appointed Duncan Mac Naughton as president and COO of its Family Dollar subsidiary. Mac Naughton, 54, most recently served as CEO of Mills Fleet Farm. He has held numerous leadership roles at Wal-Mart Stores, including chief merchandising and marketing officer of Wal-Mart U.S. from 2011 to 2014, executive VP of consumables health and wellness and Walmart.com from 2010 to 2011, and chief merchandising officer of Wal-Mart Canada from 2009 to 2010.

New center set to rise in Richmond

A site near the entrance to Innsbrook Office Park in Glen Allen, Virginia, north of Richmond, has been slated as the home of Dominion Shoppes at Innsbrook, a project of Dominion GA, LLC. In a deal brokered by Cushman & Wakefield/Thalhimer, Dominion acquired the 2.4-acre tract from Doswell Properties for $2.9 million. The planned center is 100% pre-leased to tenants including Starbucks, Blaze Pizza, American Family Care, and Noodles & Company.
New owner for Flagstaff Mall in Arizona

The 388,000-sq.-ft. Flagstaff Mall has been acquired by Dallas-based Cypress Equities for an undisclosed sum. The single-level center opened with two anchors in 1979 and added a third anchor when it was expanded in 1987. Cypress plans to add three outparcel pads amounting to 18,000 sq. ft. to the former Woodmont property, and is exploring the conversion of select inline retail space to new uses. “It is our goal to establish Flagstaff Mall as the dominant retail destination in northern Arizona,” said Cypress CEO Chris Maguire.
Post-Election Fallout for Labor

As a result of the labor community’s failure to produce critical outcomes it pursued for the presidency, Congress and governorships, unions will be forced to abandon much of the political and legislative agenda they had developed in hopes of a friendly Clinton administration.
Online powerhouse among retailers looking to buy American Apparel

A few familiar retail names are reportedly in discussions to buy American Apparel. Amazon and Forever 21 are among the companies in talks with the bankrupt manufacturing and retail company and its advisors about submitting offers ahead of a deadline on Friday, Reuters reported.
Hazardous Waste Update

Retailers navigate shifting regulatory landscape amid a flurry of EPA involvement
The past decade has seen a monumental shift in regulatory oversight of retailers’ environmental compliance programs, forcing companies to adapt compliance solutions to the myriad of hazardous waste control laws impacting the retail sector.
Historically, most enforcement has been at the state and local level. But in late 2016, the industry witnessed a flurry of retail-related activity from the Environmental Protection Agency, including:
Home furnishing retailer delves deeper into augmented reality

Wayfair is extending its commitment to 3D technology — again. The online furniture retailer expanded the library of its WayfairView augmented reality app by “thousands” of products. The app is also now available on the Asus ZenFone, a smartphone that is equipped with Google’s Tango and Daydream virtual reality functionality.
2017 Survival Tips

Chief executives from leading retail real estate companies shed light on the new year’s most pressing challenges for their tenants
Adobe: Holiday online sales ‘historic’

Holiday online sales surpassed predictions, generating $1 billion daily for the majority of a two-month period.