San Francisco — Gap Inc.’s board of directors has named Sonia Syngal, an accomplished retail leader and CEO of the portfolio’s Old Navy business since 2016, as the company’s next chief executive officer, effective March 23. She will also join the Gap Inc. board. Her top priority will be strengthening the performance of the portfolio. “To lead the company into its next chapter, we sought a dynamic leader who could bring a deep respect for our customers and make the decisions necessary to deliver value from our portfolio of brands …
retailers
Union, N.J. — Bed Bath & Beyond Inc. has named Joe Hartsig as executive vice president, chief merchandising officer of Bed Bath & Beyond and president of Harmon Stores Inc., effective immediately. He joins the company from Walgreens. Reporting directly to Bed Bath & Beyond’s president and CEO, Mark Tritton, Hartsig will be a key member of the senior leadership team. His responsibilities will include oversight of the company’s omni-channel merchandising, planning and owned brand strategies. As president of Harmon, Hartsig will also be responsible for developing the growth strategy …
Plano, Texas — JCPenney will expand curbside pickup services to 50 additional locations across the U.S. JCPenney Style on the Go Curbside Pickup offers customers the option to quickly grab online orders without leaving their car. The expansion comes after a successful pilot, where customers responded positively to the speed and ease of the experience. “Style on the Go Curbside Pickup is all about our customers and how they want to shop. As we continue to put our customers at the heart of everything we do, we continue to create …
Minneapolis — Target Corporation has hired Heath Holtz as senior vice president, field operations. Holtz will oversee Target’s supply chain and logistics field network to support Target’s more than 1,800 stores. Holtz joins the company March 1 and will report to Arthur Valdez, Target’s executive vice president and chief supply chain and logistics officer. “Target has built an industry-leading supply chain and logistics network that supports our stores as shopping destinations and local fulfillment hubs,” says Valdez. “Heath’s strong track record of leading global teams to elevate operational quality and …
Fairview Heights, Ill. — IMPACT Strategies recently gave a popular Fairview Heights, Ill., shopping center an all new exterior façade. Crossroads Centre is home to Dollar Tree, Big Lots, T.J. Maxx, Sky Zone Trampoline Park, Plato’s Closet, Ruler Foods and several other retailers who received a fresh look just in time for the new year. IMPACT worked with Northeast Capital Group who purchased the property in 2018. The renovations included repairs to the parking lot and sidewalks, enhanced site lighting, an updated pylon sign, and new fabric canopies. The updates …
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 …
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 …