REAL ESTATE

Marcus & Millichap names retail exec

BY Staff Writer

Palo Alto, Calif. — Marcus & Millichap Real Estate Investment Services said it has named Kirk L. Trammell senior director of the firm’s National Retail Group in Palo Alto.

Trammell joined Marcus & Millichap in June 1989. During his career, he has closed more than $1 billion in commercial property transactions, according to the company.

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Jimmy Choo CEO named president of Bergdorf Goodman

BY CSA STAFF

DALLAS — Neiman Marcus Group announced that Joshua Schulman has been appointed president of Bergdorf Goodman, effective May 7.

Schulman, 40, joins Neiman Marcus from Jimmy Choo where he was CEO. In this role, he oversaw the international expansion of the brand and the growth of jimmychoo.com. Prior to Jimmy Choo, Schulman was president, Kenneth Cole New York, and managing director, international strategic alliances, Gap Inc.

"Bergdorf Goodman is the pinnacle of luxury retailing, and is known world-wide for its signature style and modern sophistication," said Karen Katz, president and CEO of The Neiman Marcus Group Inc. "Joshua’s unique experience blends keen business acumen with creativity and vision. He appreciates the legacy of Bergdorf Goodman but understands brands have to be continually defined and re-defined. From merchandising to marketing to sales and service, he is exceptional in his ability to bring an idea and an ideal to life. He is the perfect leader for Bergdorf Goodman."

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Duckwall-ALCO sees slight sales boost in Q4

BY CSA STAFF

ABILENE, Kan. — Duckwall-ALCO Stores fourth-quarter net sales increased 1% to $137.5 million, compared with the fourth quarter of fiscal 2011. Same-store sales, excluding fuel center sales, for the fourth quarter of fiscal 2012 decreased 0.6% to $133.4 million, compared with the fourth quarter of fiscal 2011. Net sales from continuing operations for fiscal year 2012 increased 4.4% to $482.8 million, compared with fiscal year 2011. Same-store sales, excluding fuel center sales, for fiscal year 2012 increased 3.0% to $467.7 million.

Net earnings for the fourth quarter of fiscal 2012 were $0.8 million, or 22 cents per diluted share, compared with $0.8 million, or 21 cents per diluted share, for the fourth quarter of fiscal 2011. Net earnings for fiscal 2012 were $1.7 million, or 43 cents per diluted share, compared with a net loss of $4.6 million, or $1.20 per diluted share, for fiscal year 2011.

Richard Wilson, president and CEO, commented, "We are excited about the many improvements that have taken place throughout the Company this year. We are also encouraged by our sales and net earnings growth over the prior year’s results. While net sales were negatively impacted during the fourth quarter of fiscal 2012 as a result of unseasonably warm temperatures, we were still able to achieve same-store sales increases for the full year over fiscal 2011. We attribute this turnaround to our merchandising strategies and enhanced product mix, which is providing ALCO customers with better value and a more organized shopping environment. In addition, net earnings improvement over the prior year has been achieved through cost-reduction initiatives."

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