FINANCE

A&P emerges from bankruptcy

BY Katherine Boccaccio

Montvale, N.J. — Grocer The Great Atlantic & Pacific Tea Co. Inc. said Tuesday it has emerged from Chapter 11 bankruptcy protection as a private company.

The company filed for bankruptcy protection in late 2010 but has re-emerged with operational financing, completed store renovations and new supplier and employee union agreements, as well as new management team, in place.

Raymond Silcock has been named CFO of the company, as of Tuesday, replacing Frederic Brace, who is resigning from his role as chief restructuring, financial and administrative officer now that the bankruptcy process is complete.

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REAL ESTATE

Zara unveils new global concept store on Fifth Avenue

BY Katherine Boccaccio

New York City — Fashion retail Zara, an Inditex brand, on Thursday will officially open its largest U.S. store – on Fifth Avenue in Manhattan – designed with the latest advancements in sustainability.

The new store, in the Tishman Building (666 Fifth Avenue, at the intersection of 52nd Street), features a three-floor layout that reflects an innovative approach to interior design. The shop opens onto Fifth Avenue and 52nd Street with five display windows and a dramatic façade.

In each of the three floors, the store is organized around two long corridors or "catwalks" that lead to intimate boutique-like cubes on each side. Each space showcases a specific collection. The wood furniture is finished in neutral elegant colors and textures reminiscent of fabrics such as linen or silk.

Additionally, the shop includes all of the sustainability features of Inditex’s eco-efficient stores, including:

  • Motion detectors in the storeroom dim the area’s lights by 80% when no one is present. Motion detectors for lighting are also installed in less-transited areas (toilets and back-of-store corridors).
  • The store’s lighting dims to 66% of normal during janitorial and merchandise loading and unloading shifts.
  • The shop is equipped with the most efficient heating and air conditioning on the market thanks to its Variable Refrigerant Volume system.
  • Energy-intensive systems are turned on in a sequential pattern to prevent demand spikes.
  • Thermostats automatically adjust for heating and air conditioning.
  • Electronically-regulated air curtains at store entrances prevent the influx of colder or hotter air from outside.
  • Speed-controlled mechanical escalators.
  • Automatically opening double entrance doors.
  • Wood used in store fittings and furnishings bears the PEFC seal (Programme for the Endorsement of Forest Certification), which guarantees that it comes from sustainably, responsibly harvested forests.
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OPERATIONS

Sephora launches iPad program

BY Staff Writer

New York City — A Tuesday report by Venture Beat said that Sephora is testing an iPad program in 20 stores during the month of March.

Sephora’s goal, according to the report, is to provide extra product details that could only be offered through the Internet, such as reviews and specific product information.

“We see a high overlap between Apple products and our consumers,” Julie Bornstein, senior VP for Sephora Direct, told VentureBeat.

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