News

Gap vet named Frederick’s of Hollywood president

BY CSA STAFF

HOLLYWOOD — Frederick’s of Hollywood Groupannounced that former Gap executive Don Jones has joined the company as president and COO.

Jones, who most recently served as CEO of Pogan Retail, a consulting firm he founded in 2003. Prior to founding Pogan, Jones served as SVP stores and operations for Gap Inc., where he was responsible for Gap, Gap Kids and Gap Body retailstores.

During his career, Jones also held leadership positions at Target, Ikea, Filene’s and Macy’s.

“This is truly an exciting time to be a part of Frederick’s of Hollywood, as we look to continuethe positive momentum we have built and expand that progress into our retail stores,” statedThomas Lynch, the company’s chairman and CEO. “The addition of DonJones to our executive management team is another critical step toward returning Frederick’sof Hollywood to profitability. “With his extensive experience in driving innovation and impressive track record for creatingoutstanding results, Mr. Jones is a valuable addition to our team as we revitalize our brand onan international scale. Most importantly, his in-depth knowledge of the intimate apparel andrelated products industry, including developing these divisions of major department stores aswell as the rollout of Gap Body, will bring the fresh perspective we believe is essential to ourfuture success,” concluded Lynch.

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REAL ESTATE

Tiffany to open SoHo store in 2012

BY Katherine Boccaccio

New York City — Tiffany & Co. said Thursday it plans to open a store in New York’s SoHo neighborhood in September 2012.

The 7,000-sq.-ft. store will occupy a space that combines two locations — 97 Greene Street and 106 Wooster Street.

The 2012 opening corresponds to Tiffany’s 175th anniversary of its founding on Lower Broadway in the 1850s.

“Opening a store in the neighborhood where Charles Lewis Tiffany developed his growing enterprise is a wonderful way to celebrate our anniversary,” said Beth O. Canavan, executive VP of Tiffany & Co.

Tiffany’s new SoHo store will be the jeweler’s third location in New York City.

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OPERATIONS

Report: Consumer confidence remains at second-lowest level of 2011

BY Katherine Boccaccio

Washington, D.C. — A report released Thursday by Bloomberg said that U.S. consumer confidence held last week at the second-lowest level of 2011 as the highest number of households in three years said it was a bad time to spend.

The Bloomberg Consumer Comfort Index was minus 49.3 in the period to Sept. 11, near the 2011 low of minus 49.4 reached in May. The buying climate gauge slumped to the lowest level since October 2008.

According to the report, the majority — nine out of 10 — of Americans polled had a negative view on the economy.

The consumer comfort gauge has been stuck below minus 40 — the level associated with recessions or their aftermath — since the end of February. It has averaged minus 45.4 this year, compared with minus 45.7 for 2010 and minus 47.9 in 2009, the year the last recession ended, according to the report.

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