Napa, Calif. — Beloved bookseller Copperfield’s Books is returning to downtown Napa — directly across the street from where it first opened 30 years ago. Scheduled to open this summer, the new 3,665-square-foot space will be part of the First Street Napa development. “Being so community oriented, we’re delighted to be back in the vibrant downtown environment we once occupied,” says Paul Jaffe, president, Copperfield’s Books. “With the renewal of the city center, we are ready to move back to the street where we opened the very first Napa Copperfield’s …
retailers
Alexandria, Va. — National CBD retailer Your CBD Store® has opened a new store in Alexandria, Va. In less than 2 years, Your CBD Store® retailers have created the world’s largest brick-and-mortar CBD retailer, with more than 600 locations in 40 states. “Everything we do is focused on improving the lives of our customers, we are a high-quality learning environment where customers can try products and leave knowing what is in their CBD product,” says Shells Karle, store owner of Your CBD Store Alexandria. “We are not just another retail …
New York City, Indianapolis and Chicago — Authentic Brands Group (ABG), a global brand development, marketing and entertainment company, has acquired America’s original fast fashion retailer, Forever 21. ABG and Simon Property Group will each own 37.5%, and Brookfield Property Partners will own 25% of the intellectual property and operating businesses. With this move, ABG, Simon and Brookfield become the new ownership group for Forever 21. Building on the success of Aéropostale, this similar ownership structure positions Forever 21 for long term performance and growth. This acquisition further diversifies ABG’s …
Fort Worth, Texas — Pier 1 Imports, Inc. is pursuing a sale of the company. To facilitate an orderly sale process and implement the PSA, the company and its subsidiaries have commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the Eastern District of Virginia. The company also intends to use this process to complete the previously announced closure of up to 450 store locations, which includes the closure of all its stores in Canada. To date, the company has closed or initiated going-out-business sales at over 400 …
Indianapolis — Simon Property Group has agreed to acquire an 80% interest in Taubman Centers Inc., a Michigan-based retail owner-operator, for approximately $3.6 billion. Under the terms of the agreement, Simon is buying all of Taubman’s common stock at a price of $52.20 per share in an all-cash deal. The transaction is expected to close in mid-2020. Taubman’s existing debt, which Simon will assume, was factored into the price, which represents a capitalization rate of 6.2%. Taubman will continue to operate as a separate entity. Taubman’s portfolio spans 26 super-regional …
Baltimore — Sylvan Learning, a supplemental and enrichment education brand, is gearing up for explosive growth. With its proven model and 40-year rich brand awareness, Sylvan today has more than 750 points of presence. This year, it plans to open 40 new locations. “2019 was a banner year for Sylvan Learning’s franchise development,” says Georgia Chasen, vice president of franchise development. “Last year, Sylvan Learning brought on 52 new franchisees and opened 24 centers, in both domestic and international markets. Over the last 4 years, we’ve attracted more than 200 …
Scottsdale, Ariz. — This month PXG, a company dedicated to developing high-performance golf equipment and apparel, opened its fifth brick-and-mortar location in the United States. Known for its disruptive approach to product engineering and distribution, PXG continues to buck the trend of transactional sales in favor of delivering custom equipment and personalized experiences. “We are not in the golf club business,” says PXG Founder and CEO Bob Parsons. “We are in the business of creating exceptional experiences. Our stores, as well as our mobile fitting program, are designed to help …
Atlanta — The Home Depot® has been recognized as a global leader on corporate climate action for its efforts to reduce its environmental impact and build a more sustainable future for consumers and their homes. CDP, an environmental impact non-profit, named The Home Depot to its Climate Change “A List” for its actions to cut carbon emissions and mitigate climate risks. Every year, thousands of companies disclose data about their environmental impacts to CDP for independent assessment and receive scores ranging from A to D- for how effectively they are tackling …
New York City — Macy’s, Inc. plans to optimize its portfolio by continuing to grow stores in the best malls, but close approximately 125 stores in lower tier malls within 3 years. The department store also plans to explore new smaller, off-mall formats. Macy’s will also establish a single corporate headquarters and relocate its digital business to New York City. This updated strategy and 3-year plan is designed to stabilize profitability and position the company for growth. “We have a clear vision of where Macy’s, Inc. and our brands, Macy’s, …
New York City — Centric Brands Inc., a leading lifestyle brands collective, has appointed Laura Ritchey as chief operating officer, reporting to CEO Jason Rabin. Ritchey will be responsible for developing the global operating platform and have direct oversight for strategic sourcing, warehousing, logistics and information technology. “Laura has successfully led all aspects of operations including business transformation, strategy and day-to-day execution and will be an important addition to our leadership team,” says Rabin. “As we look to drive greater efficiency in operations and develop faster and more agile business …