Finance & Capital Management

Archer Daniels Midland Company has appointed Juan R. Luciano the next CEO and also has elected him to the company’s board of directors, effective immediately.  Luciano previously served as company’s president and COO responsible for leading and running the company’s global operations.

Luciano succeeds Patricia Woertz, who will continue in the role of ADM’s chairman of the board and is expected to retire in May 2016.

Walgreens reported October sales of $6.8 billion, an increase of 6.9% from the comparable year-ago period.  

Seattle –- Online retailer Zulily Inc. shrank its net loss to $795 million in the third quarter of fiscal 2014 from $2.25 billion the same period the prior year. Net sales shot up 72% to $285.8 million.  

Patrick Spear has joined GMDC as president to fill a role previously held by the organization’s long-time CEO Dave McConnell.  Spear brings 25-plus years of experience in the consumer and office products industry to GMDC’s senior management team.  

Louisville, Ky. -- Mid-America Real Estate Corporation’s Investment Sales team recently brokered the sale of Stonefield Square in Louisville, Ky. The 90,991-sq.-ft. center was purchased from seller Viking Partners by Toronto-based Slate Properties for $12.6 million.   Stonefield Square is located at the southwest corner of Shelbyville and Moser Roads. The center is anchored by The Fresh Market, CVS and Fifth Third Bank.

Deerfield, Ill. -– Same-store sales at Walgreen Co. grew 5.6% in October. Total sales were $6.8 billion, an increase of 6.9% from $6.36 billion for the same month in fiscal 2014.   Total front-end sales increased 2.7% in October compared with the same month in fiscal 2014, while same-store front-end sales increased 2%.   

Bulbs.com, is set to help businesses save big when switching to energy efficient lighting products. 

A leading online lighting supplier is launching its new National Utility Rebate Program initiative to help qualifying commercial customers participate in available utility rebate incentives for lighting products throughout the United States.

 

Downsized facilities management departments. Projects that reduce maintenance and operating costs. Store refreshes as opposed to costly remodels. Mandy Rennehan of Freshco Retail Maintenance spoke with Chain Store Age about how changes in retail facilities management are impacting retailers.

 

What trends are you seeing with regard to store retrofits and remodels?