Finance & Capital Management

St. Paul, Minn. -- Paster Properties announced that John Kohler has joined the team as director of development, and Jason LaPlant has joined as accounting manager.

As director of development, Kohler is responsible for driving the firm’s new development efforts, as well as managing ongoing projects within Paster’s Twin Cities portfolio. In his role as accounting manager, LaPlant oversees the company’s day-to-day accounting activities, monthly financial reporting and lease administration.

Melville, N.Y. -- A&G Realty Partners, a leading commercial real estate, advisory and investment group, has been retained by C. Wonder to manage the sale of the three retail store leases and several office locations in New York City and Long Island, following the company’s recent Chapter 11 bankruptcy filing.

Beachwood, Ohio -- DDR Corp announced that David J. Oakes has been named the company’s new CEO, effectively immediately. Oakes has been DDR’s president and CFO since January 2013, and was senior executive VP and CFO for the three years prior. He succeeds Daniel Hurwitz, who stepped down December 31 by mutual agreement.

"After a thorough and robust search process, the board is confident that David is the right person to lead DDR into the future," said chairman Terry Ahern.

While Kmart has been closing many of its stores as it seeks to restructure the company, the retailer has quietly launched a pilot program to re-brand itself as K-Fresh.

The Chillicothe Gazette reports that the Kmart on North Bridge Street in Chillicothe, Ohio, has scaled back its hours and grocery offerings in preparation for its switch from a 24-hour supercenter to the retail chain's new K-Fresh concept.

Build-A-Bear Workshop was busy building a lot of bears this holiday season, if the retailer’s same store sales are any indication.

The company reported that same store sales were up 9.9% for the quarter, with a 8.5 percent increase in North America and 14 percent increase in Europe. Build-A-Bear also saw an $11.8 million profit for the fourth quarter, more than double the $5.4 million profit it reported in the prior-year quarter.

Increased traffic and better than expected same store sales growth at U.S. stores were bright spots in the retailer’s fourth quarter earnings CEO Doug McMillon characterized as good despite a one cent increase in earnings per share. 

Ikea is moving ahead with its strategy to expand its footprint in the Midwest by finalizing plans on a massive new distribution center in Illinois.

The retailer has submitted final plans to the City of Joliet, Ill., that would advance the development of its previously approved main Midwestern distribution center.

Canadian discounter Dollarama has turned to an Office Depot executive to guide the company through expansion plans in 2015.

The company announced that Elisa D. Garcia has been appointed as an independent director and member of the nominating and governance committee of the corporation. Garcia's appointment expands the company’s board of directors to 10 directors, seven of whom are independent.

Kenneth Cole Productions Inc. has appointed an apparel industry veteran as CEO.

Marc Schneider will assume responsibility for the company's retail, outlet, e-commerce, international, licensing and wholesale businesses. He takes over from founder Kenneth Cole, who has served as interim CEO since February 2011.

Walmart CEO Doug McMillon talks about changes at Walmart.