News

Hull Property Group plans to move slowly in remaking the Kingsport Town Center, delaying the recruitment of new tenants until it can re-establish the 40-year-old mall as a popular destination for shoppers.  

Staples has appointed Faisal Masud to the newly created role of chief technology officer.     Masud had previously served as executive VP of global e-ecommerce since joining the company in May, 2013. Prior to Staples, he served as VP and general manager for Groupon, responsible for managing Groupon Goods’ global strategy and execution. He also held various leadership roles at eBay and Amazon.  

Bed Bath & Beyond Inc. is being accused of shorting the wages of employees by not paying them for overtime.   The class action lawsuit, filed in New Jersey’s Middlesex County Superior Court, accuses the home goods retailer of violating the state’s Wage and Hour Law by not paying some of its employees time-and-a-half for hours worked over 40 hours.   

For the past five years, retailers and millennials have been in a very one-sided relationship.    Big budgets were spent to capture and engage with this highly sought-after group of consumers through intelligent advertising, a carefully curated social media presence, and viral marketing campaigns. And in true millennial fashion, the response was indifferent.    But retailers, it’s no longer all about millennials.   

A dramatic spiral staircase highlighted by three chandeliers and a cascade of lights and crystals suspended from a 30-ft. ceiling welcomes shoppers at Shreve & Co. new flagship in San Francisco.   The two-level, 15,000-sq.-ft. store features a modern, luxurious design, with in-store boutiques, private viewing suites for personalized consultations and an entertainment room. It also houses an array of services, from a dedicated watchmaker to an estate jewelry appraiser and consultant.   

Amazon and Saks came out on top in the 12th annual ForeSee Experience Index (FXI), which identified the top brands for retail customer experience this holiday season across three channels: online, store and mobile.   

CBL announced it has closed on a sale of three Tier 3 malls to Hull Property Group for a price of $32.25 million. Changing hands are the Randolph Mall in Asheboro, North Carolina, and the Regency Mall in Racine, Wisconsin.    The identity of the third property was not disclosed.  

The wealthiest segment of the U.S. population is cutting back a little this holiday season.