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WESTFIELD BEGINS MANAGEMENT OF WORLD TRADE CENTER MALL

The Port Authority of New York and New Jersey officially turned control of the World Trade Center over to private hands in late July, giving Westfield America, Los Angeles, operation of the 427,000-square-foot underground mall at the international landmark. Real estate developer Silverstein Properties is now partnered with Westfield in a 99-year net lease worth $3.2 billion for the 10.6 million-square-foot complex. The deal was actually finalized in April. “This is a thrill for Westfield,” CEO Peter Lowy said at the ceremony at the World Trade Center. “We’re delighted to participate in the opportunity to invest in this great city.” Westfield will be responsible for leasing and managing the concourse mall, renamed the Westfield Shoppingtown World Trade Center, plus any additional retail space that may be added.

KMART, WAL-MART BUY WEB DIVISIONS

Kmart and Wal-Mart in late July merged with their respective Web divisions, which had been operating as separate entities. Both companies had eventually planned to conduct IPOs for the online counterparts, but those plans — at least for the time being — have been scrapped. Kmart bought the 40% of San Francisco-based BlueLight.com that it did not already own for an undisclosed price. Meanwhile, Wal-Mart bought back the stake of Walmart.com, Palo Alto, Calif., that it did not already own from Accel Partners, a Palo Alto-based venture capital firm. Wal-Mart did not release the specifics of the transaction.

FORMER PAUL HARRIS CEO PLANS TO REVIVE DEFUNCT CHAIN

Charlotte Fischer, the former CEO of the now defunct Paul Harris apparel chain, made public plans in July to revive the retailer. She said she would open 11 stores, including 10 in Indiana, by the fall with a goal of eventually opening 250 units within five years concentrated in Indiana, Maryland and Florida. Fischer, who paid roughly $50,000 to gain control of some Paul Harris inventory, the company name, logo, signage, trademark, Web site address and customer list, was CEO of the company from 1993 to March 2000. Paul Harris, which at the time of its Chapter 11 filing in October 2000 operated 290 full-price stores and 26 outlets in 28 states, liquidated the company in March 2001.

ATHLETE’S FOOT GROUP SECURES LOAN TO EXPAND AT HOME AND ABROAD

The Athlete’s Foot Group secured a $38 million line of credit from Wells Fargo Retail Finance in early July to aid in its plans to open 120 new franchise operations by the end of the year, 80 of which will be located overseas. Robert J. Corliss, president and CEO of The Athlete’s Foot Group, said that the Atlanta-based footwear company, which operates 700 stores, is targeting six new countries in Europe, South America and the Asia-Pacific region. In the United States it is aiming to open new stores in the Atlanta, Florida and Detroit markets.