New York - ICSC has created an office of the president consisting of longtime CEO John Riordan and recently appointed executive vice president Michael Kercheval, who now takes on the title of COO and will be responsible for day-to-day operations of the association. In mid-2001, Riordan is slated to become chairman of the Massachussetts Institute of Technology's Center for Real Estate in Cambridge, Mass. Riordan will continue to play an active role in ICSC and will maintain an office at the association's headquarters.
Redmond, Wash. - Software giant Microsoft is taking a tour of U.S. shopping centers to promote its Windows Millenium Edition. The tour, which features three 1,024 sq. ft. displays, will visit the largest mall in each of 25 cities. The tour kicked off last month in San Francisco, New York and Chicago, and will conclude Nov. 12.
New York - Circuit City is the top U.S. specialty store, according to a recent survey conducted by the National Retail Federation and Triversity. The Richmond, Va.-based, 658-unit chain posted $12 billion in sales for 1999, a 16.7% jump over its 1998 figures. The other nine chains in the Top 10 include, in order of rank: Minneapolis-based Best Buy; Paramus, N.J.-based Toys 'R Us; San Francisco-based Gap; Delray Beach, Fla.-based Office Depot; Columbus, Ohio-based Limited; Westborough, Mass.-based Staples; Framingham, Mass.-based TJX; Dallas-based CompUSA; and Shaker Heights, Ohio-based OfficeMax.