News

Destination Maternity taps seasoned CFO to lead financial charge
In its search to find the right financial overseer, Destination Maternity Corp. didn’t have to look any farther than the auto parts industry. On Monday, the maternity apparel retailer named David Stern, former CFO of Pep Boys – Manny, Moe and Jack, as executive VP and CFO, charged with leading the finance and accounting, real estate, loss prevention and procurement areas of the company. Stern will report to CEO Anthony Romano.
Tropical Smoothie unveils smooth new look slated for national rollout
Smoothie operator Tropical Smoothie Café has refreshed its brand by blending a coastal atmosphere and elevated customer experience – with plans to take the new look and feel to locations nationwide. "As Tropical Smoothie Cafe continued growing and evolving over the past several years, it became obvious to us that our brand's image needed to follow suit,” said Mike Rotondo, CEO. The company launched the rebranding via a new restaurant design that it plans to introduce to new and existing stores.

Stirling to build new medical complex, more commercial in south Louisiana

As part of its ongoing commitment to development in the state, Stirling Properties has acquired nearly 12 acres of land in St. John the Baptist Parish for development of a new medical facility and additional commercial development. The site is located at the northwest corner of W. Airline Highway and N. Sugar Ridge Road in LaPlace, Louisiana.
Lowe's to open Nashville distribution hub

Lowe's is amping up its distribution game with a new direct fulfillment center near Nashville. At a square footage of 1.1 million, the facility will be a Lowe's first in that it will ship packages directly to customers.
Under Armour exec jumps ship to join Starbucks

A key player in Under Armour’s effort to increase sales of women’s goods is leaving to join Starbucks Corp. But first she has to learn how to serve up espresso.
Combatant Gentlemen, Santa Monica Place, Santa Monica, California
Amazon prepares for holiday surge with big uptick in DC openings

Online retail giant Amazon is not looking for a repeat of holiday 2015, when increased fulfillment costs due to a surge in orders took a bite out of its holiday quarter earnings. The company is adding 18 warehouse facilities this quarter in preparation for the holiday surge, according to a report by Recode. Last year, it added six.
August 2016 Weather Report

Temperatures for the U.S. will trend the warmest in at least five years. August begins with an active pattern along the East Coast with showers and thunderstorms. Heat will be building across the Central U.S. with a heat wave likely developing in the first week of August. The heat spreads to the East Coast later in the week. Another heat wave during the second retail week of the month will keep it feeling firmly like summer.
Bonobos location destined for Madison Avenue

Clicks-to-bricks phenomenon Bonobos’ retail journey will soon extend to Manhattan’s Madison Avenue. The company has signed a 10-year lease for 1,725 sq. ft. on the ground floor of 488 Madison Avenue near St. Patrick’s Cathedral. Neighbors of Bonobos at its new location include Saks Fifth Avenue, Tourneau, Burberry, and Nordstrom’s Trunk Club. The Feil Organization recently completed major renovations on the building, including a two-story glass curtain wall in the office lobby.
Report: Retail M&A activity strong in Q2

Deal volume in the retail and consumer sector is up, but deal value is down. Deal volume in the second quarter in the sector reached its highest level in the past 12 months, with 282 announced deals, up 5% over the first quarter, according PwC’s Q2 2016 retail and consumer M&A report.