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Onyx Partners to Acquire JCPenney Retail Portfolio for $947 Million

by Katie Lee

Jersey City, N.J. — Onyx Partners of Boston has entered into a binding purchase and sale agreement to acquire 119 JCPenney stores from Copper Property CTL Pass Through Trust, a real estate investment trust created as part of JCPenney’s 2020 Chapter 11 bankruptcy filing, for $947 million. The sale price represents roughly $8 million per store property. The portfolio, which totals nearly 16 million square feet across 34 states, is net leased to JCPenney under a long term master lease with Penney Intermediate Holdings LLC. The all-cash sale is scheduled …

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PGA TOUR Superstore Names New CEO

by Katie Lee

Atlanta — National golf retail chain PGA TOUR Superstore has named Troy Rice as its new chief executive officer. Rice comes to PGA TOUR Superstore after 3 years as CEO of retail beverage chain Total Wine & More. Rice will report directly to Arthur M. Blank, owner and chairman of Blank Family of Businesses. He will begin his new role at PGA TOUR Superstore on Sept. 2, 2025. Global search firm Russell Reynolds Associates led the search after Dick Sullivan, CEO of PGA TOUR Superstore for the last 15 years, …

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Gap Inc. Appoints President and CEO of Athleta

by Katie Lee

San Francisco — Gap Inc. has named Maggie Gauger as global brand president and CEO of Athleta, effective August 1, as Chris Blakeslee steps down from the role. Gauger joins the company from Nike. “We are thrilled for Maggie Gauger to join as CEO of Athleta as we look to accelerate the brand’s reinvigoration,” says Richard Dickson, Gap Inc. CEO. “Maggie blends proven business transformation capabilities, deep consumer centricity, product fluency and a heartfelt commitment to empowering women and girls. This combination of skills and experiences will equip her to …

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Tilly’s, Inc. Appoints President and CEO

by Katie Lee

Irvine, Calif. — Effective August 18, 2025, Nate Smith will become president and chief executive officer and director of Tilly’s, Inc. In conjunction with this appointment, Hezy Shaked, co-founder, executive chairman and current president/CEO, will transition into the executive chairman role effective on that date. “On behalf of myself and the board, we are very excited to have Nate join our leadership team, and I am looking forward to working closely with him as he transitions into Tillys,” says Shaked. “We believe Nate’s combination of robust industry experience, core values …

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construction and designfranchise developmentNewsretailers

Sola Salons Closes Q2 With 20 Units Sold, 7 Locations Opened

by Katie Lee

Lakewood, Colo. — Leading salon suites franchise Sola Salons has closed another successful quarter, marking 20 units sold and another seven opened year-to-date, bringing the systemwide unit count to more than 750 locations. The brand also saw double-digit growth in leads, and occupancy across the system has continued to increase, as well. “With agreements inked for new Solas in key markets like Texas and New York and openings in Florida and California, our system is healthy and growing,” says Daryl Hurst, president and chief operating officer. “We’ve also opened up …

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Nordstrom Rack to Open 5 New Locations in 2026

by Katie Lee

Seattle — Seattle-based fashion retailer Nordstrom, Inc. plans to open five new Nordstrom Rack stores next year, to be located in Elmwood, La. (opening spring 2026), as well as Williamsburg, Va.; Canton, Ohio; Deptford, N.J.; and Mansfield, Mass. (all opening fall 2026). In Elmwood, the 27,000-square-foot store will be located at Elmwood Center, Louisiana’s largest open air shopping center. Elmwood Center is owned and managed by Lauricella Land Company and is centrally located in Jefferson Parish off Clearview Parkway and Earhart Expressway. In Williamsburg, the 25,000-square-foot store will be located at …

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Hibbett Renews Partnership with Digital Wave Technology

by Katie Lee

Ponte Vedra, Fla. — Hibbett, Inc., a leading athletic-inspired fashion retailer, has renewed its contract with Digital Wave Technology for its Product Experience Management (PXM) solution. The renewal reflects Hibbett’s commitment to achieving a measurable impact on scaling product content, streamlining internal processes and enhancing their digital shopping experience. “As Hibbett grows, we need partners who can help us scale with speed and precision,” says Bill Quinn, chief information officer (CIO), Hibbett. “Digital Wave’s PXM has been instrumental in improving content accuracy, team alignment and time to market. We’re excited …

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Ollie’s Opens 600th Store, Expands into 34th State

by Katie Lee

Harrisburg, Pa. — Ollie’s Bargain Outlet Holdings, Inc. has celebrated the grand opening of its 600th store, located in Belmont, N.H. The new store also marks Ollie’s entry into New Hampshire, the retailer’s 34th state. Ollie’s is America’s largest retailer of brand name closeout merchandise and excess inventory at up to 70% off. “We are thrilled to bring our huge selection of brand name household merchandise at prices up to 70% below the fancy stores to the great city of Belmont and state of New Hampshire,” says Eric van der …

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Saks Global Appoints New Chief Financial Officer

by Katie Lee

New York City — Saks Global, the largest multi-brand luxury retailer in the world, has appointed Brandy Richardson as chief financial officer, effective Aug. 18, 2025. Richardson succeeds the interim chief financial officer, Mark Weinsten, who joined Saks Global to lead the company’s finance organization through the initial stages of its transformation following its acquisition of Neiman Marcus Group in December 2024. With nearly 25 years of experience, Richardson joins Saks Global from Tailored Brands, Inc., where she has served as executive vice president and chief financial officer since 2021. …

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Tailored Brands CFO to Depart

by Katie Lee

Houston — Brandy Richardson, chief financial officer of Tailored Brands, Inc., will be leaving to pursue another opportunity (as CFO of Saks Global), effective July 25, 2025. Tailored Brands has launched a search for a successor. In the interim, the existing finance team will report to John Tighe, president and forthcoming chief executive officer. “Since joining us in 2021, Brandy has contributed to our successful business and financial transformation,” says Peter Sachse, current Tailored Brands CEO and forthcoming executive chairman. “With a strong foundation in place, I’m confident that with …

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