Mahwah, N.J. and New York City — ascena retail group, inc. and ANN INC. have entered into a definitive merger agreement under which ascena will acquire ANN INC.
retailers
Toronto — Saks Fifth Avenue OFF 5TH has revealed its first three store locations in Canada as it prepares to enter the Canadian marketplace in 2016. Three Ontario cities — Ottawa, Niagara-on-the-Lake, and Vaughan (just north of Toronto) — will welcome Saks Fifth Avenue OFF 5TH stores in spring 2016. This announcement identifies the first of up to 25 locations that Saks Fifth Avenue OFF 5TH plans to open nationwide.
New York City — Habitat for Humanity New York City will cut the ribbon on the first ever ReStore location in New York City on June 13, 2015. The 3,500-square-foot Habitat NYC ReStore will be an affordable home improvement center offering a variety of building materials including appliances, furniture, hardware and other discounted merchandise.
Toronto — Lowe’s Canada has reached agreement to acquire the leases of 13 former Target Canada locations and to purchase Target’s Milton, Ontario, distribution center for approximately C$151 million. This acquisition came as part of a real estate auction following Target’s decision to cease operations in Canada.
New York City — Himmel + Meringoff and The Swig Company, co-owners of 1460 Broadway, have signed a 15-year lease with Foot Locker to occupy the building’s entire 36,000-square-foot, four-level retail component, which has been designated as 8 Times Square.
Memphis, Tenn. — Bass Pro Shops at the Pyramid, a new national destination experience located in downtown Memphis, is now open to the public. Located inside a massive transformed sports arena, this new, immersive retail experience includes a wilderness hotel called Big Cypress Lodge, nearly 600,000 gallons of water features, a cypress swamp with 100-foot-tall trees, the interactive Ducks Unlimited Waterfowling Heritage Center, and The Lookout, a breathtaking glass-floored cantilevering observation deck at the top of the 32-story steel Pyramid.
Chicago — True Value Company, one of the world’s largest hardware cooperatives, has named Deborah O’Connor as its new senior vice president and chief financial officer, succeeding current CFO David Shadduck who left True Value effective April 30, 2015, after nearly 14 years.