NEWMAN OUT AT NEW YORK & CO.: New York & Company Inc. on Monday announced the resignation of Steven Newman, executive vice president and general merchandise manager. The specialty retailer, which recently reduced first-quarter earnings-per-share estimates, also said Leslie Goldmann was promoted to executive vice president and gmm of apparel, and that Marie Fogel was promoted to executive vice president of design for apparel. Goldmann has been with the company since 1996, most recently as vice president and gmm for collection and ready-to-wear. Fogel joined New York & Co. in 2004 as vice president of design for casual and accessories.
M&S HITS GENEVA: British retail giant Marks & Spencer is set to open its first Swiss store today on Geneva's fashionable Rue du Marché. "The store will be 6,500 square feet, and will concentrate on women's wear, men's wear and lingerie, but prices are likely to be higher than in the United Kingdom," said a spokeswoman for the London-based group. The store will be run under franchise by the Athens-based Marinopoulos group. The Greek group already operates M&S stores in Greece, Croatia, Slovenia and Romania. M&S has 198 franchised stores worldwide.
STORE SHUFFLE: Wal-Mart will sell or sublease 27 former Wal-Mart and Sam's Club locations ranging in size from 43,000 to 135,000 square feet. Relocations of stores within markets make up a significant portion of Wal-Mart's annual expansion program. Some critics have complained that former Wal-Mart sites often sit vacant, depressing property values. Wal-Mart Realty, the $312 billion retailer's real estate arm, has sold or leased 80 million square feet in the past five years, said Rick Kinnard, senior director of dispositions for Wal-Mart Realty.