DEALS

Houston power center changes hands

BY Al Urbanski

Dunhill Partners has acquired The Center at Pearland Parkway in Houston, which houses T.J. Maxx and Ross Dress for Less and is shadow-anchored by an HEB grocery store. Seller Stream Realty Partners did not disclose the sale price.

"Due to the ideal spacing between the two closest major retail nodes, the Center at Pearland Parkway offers tenants the ability to capture this under-served community with limited competition," said Stream managing director Mark Sondock.

The Center at Pearland Parkway is a multi-phase project that kicked off in the early part of recovery after the recession ended and was completed in 2014. Situated at a prime intersection of FM 518 and Pearland Parkway, its second phase was just completed. Additional anchor and in-line spaces are up for lease.


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ECOMMERCE

Study: Most consumers believe their payment data is at risk

BY Deena M. Amato-McCoy

Consumers across the globe agree that the volume of criminals trying to steal their credit and debit card data is increasing — and retailers aren’t equipped to fight back.

This was according to “Consumer Payment Card Data Security Perceptions, from Transaction Network Services (TNS). The study interviewed 1,037 U.S. adults, 1,002 Australian adults, and 1,010 U.K. adults between May 4-8.

Eighty five percent of adults in the United States, United Kingdom and Australia believe there are more cyber-criminals just waiting to grab their payment card data. More than two-thirds are concerned about the security of their payment card data, and 38% feel their private credit or debit card data has been put at risk by a data breach, irrelevant of whether they subsequently were a victim of fraud.

“While the payments industry has made significant advances in protection in recent years, criminals continue to find increasingly sophisticated ways to target valuable payment card data,” said Lisa Shipley, executive VP and managing director of TNS’ Payment Network Solutions. “One in five respondents in our survey confirmed their credit or debit card data had been used fraudulently in the last two years, so this highlights that we must continue to drive forward with new security measures.”

One of these solutions is encryption. A majority of consumers are in favor of the security measure, with 74% saying they believe this would securely protect their personal data.

“Our survey unveils high levels of concern about the security of payment card data and strong feelings among consumers that banks, retailers and other organizations involved in the payment card industry need to do more to protect their personal data,” Shipley added.

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C-SUITE

Duluth Holdings names former Nordstrom exec as CFO

BY Deena M. Amato-McCoy

A casual clothing and workwear retailer has ended its hunt for a new finance chief.

Duluth Holdings has appointed Dave Loretta as senior VP and CFO. Loretta will succeed retiring CFO Mark DeOrio.

Prior to joining Duluth Trading, Loretta launched and operated his own company, Pacific Time, LLC, a unique food and beverage business, from 2014 to 2016. Prior to managing his own firm, Loretta held various roles at Nordstrom.

He began his tenure at the department store giant as controller and manager of financial planning and analysis for Nordstrom.com in 1999. In 2002, he became Nordstrom’s corporate VP and treasurer overseeing treasury, investor relations and corporate development.

In 2009, Loretta became president and CFO of Nordstrom Bank, where he led all financial and operating functions for its proprietary card operations. Here, he was responsible for financial reporting, budgeting, forecasting and long-range strategic planning as well as operational leadership.

Before joining Nordstrom, Loretta was director of planning and analysis for Restoration Hardware. Here, he developed a companywide budgeting, forecasting and reporting process for the retail stores, catalog direct mail and e-commerce.

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