News

Coach taps former Saks exec as new finance head
Coach announced the appointment of Kevin G. Wills as CFO, effective no later than March 2017. Wills joins the upscale specialty retailer from AlixPartners LLP, a global business advisory firm, where he has served as managing director and CFO since March 2014.
Shop Talk
TRENDING STORES: Two Canadian brands are dropping anchor in the United States. Health and beauty retailer Saje Natural Wellness, which operates 45 locations up north, will open two stores in the Los Angeles area by year end. Another 25 stores are on tap for 2017. Featuring natural wellness, personal and home care products and accessories, Saje stores are open, light and airy, with a high level of design. The Saje store at Toronto’s Sherway Gardens features a 30-foot Italian tile façade.

When it comes to overstoring, China’s the champ

U.S. real estate developers and brokers coping with epic changes in the retail landscape can take some solace from the fact that, when it comes to overstoring, America’s got nothing on China. A list of cities with the most shopping center space under construction from CBRE Research had Chinese cities occupying 11 of the top 12 spots, led by Chongqing with 39.8 million sq. ft. being built. Shenzhen (38.7 million) and Chengdu (37.6 million) weren’t far behind.
ON THE LEVEL with Al Urbanski

Oculus Populi: The mall at the center of the World Trade Center
NYC BEST BETS: TOP 10 NEW STORES

The past year saw the opening of dozens of exciting new stores in Manhattan. Here’s my annual list of faves:
• Barneys: In a spectacular homecoming, the upscale retailer opened a stunning flagship downtown on the same block the company was founded in 1923. The multi-level, 55,000-sq.-ft. store combines the ultimate in modern luxe with the latest technology, from beacons to a store clienteling app to mobile checkouts. (101 Seventh Ave.)
The 25 people shaping retail’s future are…

A 12-year-old CEO is among the 25 individuals named to the National Retail Foundation’s 2017 List of People Shaping Retail’s Future. Mikaila Ulmer, founder and CEO of Me & The Bees Lemonade http://gala.nrf.com/the-list-2017#MIKAILA-ULMER, is the youngest of the list’s honorees, all of whom will be recognized at the NRF Foundation Gala on January 15 during the NRF Big Show in New York City.
HEIGHTENED SECURITY

Preparedness is key for mall owners, retailers
“Just wanting to make sure, No. 1, it is a safe environment; and No. 2, everyone knows it is a safe environment.”
That was the comment Mark Peterson made to a local news station in Rockford, Ill., regarding his top priorities after undergoing what could easily qualify as every mall manager’s biggest nightmare.
Sam’s Club Embraces Mobility

New app allows shoppers to skip the checkout line
Sam’s Club is no stranger to embracing digital disruptors. In one of its most recent initiatives, the retailer is rolling out a free app that allows members to use their smartphone to completely bypass the checkout lane at any Sam’s Club location nationwide. The chain sees the program — called Scan & Go — as an early holiday gift for its harried, time-starved shoppers.
Target Exercises Flexibility

Target Corp. is thinking out of the box in urban and other select areas.
The retailer’s flexible format store is designed to allow it to open in locations — ranging from downtown areas to college neighborhoods — that can’t accommodate a big-box footprint. The stores, which also serve as convenient pick-up destinations for online orders, run the gamut in size depending on their location. But most seem to average from about 20,000 to 40,000 sq. ft. The smallest, at 12,000 sq. ft., is in Berkely, Calif.
Done deal: Penney sells headquarters campus in leaseback deal

J.C. Penney continues to lower its debt load. The retailed has sold its sprawling headquarters campus in Plano, Texas, to Dreien Opportunity Partners, general partner of Silos Opportunity Partners, for a gross sale price of $353 million before closing and transaction costs.