Finance & Capital Management

Amarillo, Texas – Parent, a company owned by New Jersey-based licensing and memorabilia mogul Joel Weinshanker, has purchased multimedia entertainment retailer Hastings Entertainment for $21.4 million. The publicly traded Hastings will go private and operate as a wholly owned subsidiary of Parent.

Livonia, Michigan — Schostak Brothers & Company, Inc. announced the acquisition of 23 shopping centers from Coldwater Liquidating Trust. The purchase is part of a bankruptcy liquidation in which Schostak Brothers purchased the majority of the remaining Coldwater Liquidating Trust portfolio, totaling 405,000 sq. ft.

The 23 shopping centers span 19 states, and is the third acquisition of Super Walmart shopping centers in less than a year.

Seattle -- Nordstrom announced today plans to open a Nordstrom Rack at The Shops at Knollwood in St. Louis Park, Minnesota. The approximately 33,000-sq.-ft. store is scheduled to open in spring 2015. The property is owned and managed by Rouse Properties Inc.
 
Recently rebranded The Shops at Knollwood, Rouse Properties launched an extensive redevelopment project in an effort to modernize and improve the shopping environment.

San Jose, Calif. -- EBay Inc. on Wednesday reported that its second quarter earnings rose 5.6%, topping analysts' expectations.

The company posted $676 million in net income, up from $640 million in the same quarter a year ago.

Revenue rose 13% to $4.37 billion from $3.88 billion in the same quarter a year ago.
 

Dublin, Calif. – Ross Dress for Less will open two new stores in the Mid-Atlantic region on July 19. The stores opening are in the MacDade Mall in Glenolden, Pennsylvania and Windsor Heights Shopping Center in East Windsor, New Jersey.

These new openings are part of the retailer’s 2014 expansion program, totaling approximately 75 new locations during the year.

The board of directors at the Sherwin-Williams Company elected Matthew Thornton III as its newest member.

Effective July 16, Thornton will join the board as its tenth director, as well as a member of its audit committee.

Beachwood, Ohio - DDR Corp. will hold the grand opening of Seabrook Commons, the company’s most recent ground-up development project located in Seabrook, New Hampshire, on Aug. 12. This 380,000-sq.-ft. prime power center is 96% leased, anchored by Wal-Mart, Dick's Sporting Goods, PetSmart, Michaels, Ulta, Famous Footwear and Five Below, and features a complementary restaurant lineup that includes Panera, Outback Steakhouse and Noodles & Company.

G&K Services, a service-focused market leader of branded uniform and facility services programs in the United States and the largest such provider in Canada, has added Frito-Lay North America president Thomas R. Greco to its board of directors and its compensation committee.