OPERATIONS

Charming Shoppes’ real estate head joins A&G Realty

BY Katherine Boccaccio

Melville, N.Y. — A&G Realty Partners announced Monday that former executive VP of real estate for Charming Shoppes, Jonathon Graub, has joined the firm as principal.

Graub will leverage his background to advise clients on strategic growth opportunities and to assist with their real estate operations.

For Charming Shoppes, Graub led the growth charge from 1,000 to 2,300 stores. He was responsible for all facets of real estate including developing and executing growth strategies, new store expansion, site selection, relocating sites, negotiating leases, managing construction, store design, eliminating underperforming locations, lowering occupancy costs and driving large acquisitions. In this role, he led the strategic acquisitions of Modern Woman, Catherines and Lane Bryant.

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OPERATIONS

Cache names marketing chief

BY Katherine Boccaccio

New York — Cache said Monday that it has appointed Arnold Cohen as executive VP/chief marketing officer for the women’s apparel chain.

Cohen’s background includes eight years with American Eagle Outfitters, where he was involved in creating the first mobile concept, the early iteration of Martin and Osa, and the back-on-campus initiative that rolled out to 50 colleges.

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FINANCE

Report: Consumer spending rises more than expected

BY Katherine Boccaccio

Washington, D.C. — A report released Monday by the Commerce Dept. said that March consumer spending in the U.S. advanced more than forecast – rising 0.2% after a 0.7% increase in February.

The bigger-than-expected gain reflected a jump in services, such as utilities, due to cooler-than-usual temperatures. On average, Bloomberg economists expected spending to be flat in March. “It’s a relatively decent showing for spending, but consumers won’t be able to sustain the current pace if income growth continues to disappoint,” Millan Mulraine, an economist for TD Securities USA, told Bloomberg.

Incomes increased 0.2% in March after climbing 1.1% in February.

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