Finance & Capital Management

New York — RKF has formed an affiliation with CWM Retail Property Advisors, LLP, a U.K.-based retail consulting firm.

Under the agreement, RKF has acquired CWM’s New York City office, whose current staff will join RKF. In addition, CWM and RKF have each committed to an exclusive relationship involving shared business referrals within the U.S. and the U.K.

Seattle -- The global retail real estate market rebounded in the first half of the year, with international and luxury brands expanding to new markets and high street properties growing in popularity, according to a new report from Colliers International. Fifth Avenue in Manhattan claimed the highest rent, at $3,052 per square foot, followed by Hong Kong’s Queen's Road Central ($2,086) and Canton Road, Tsim Sha Tsui ($1,993), London’s Old Bond Street ($1,520) and Manhattan’s Madison Avenue ($1,325).

Plano, Texas -- J.C. Penney Co. on Tuesday said that it was making “solid progress” in its turnaround as it reported a smaller decline in same-store sales for September, compared to August. The company also said it expects that it will have ample liquidity at year end.

While Penney’s September same-store sales fell 4% over the same month last year, they showed an improvement of 580 basis points compared with August.

New York -- Walmart and Lowe’s have joined the Pacific Business Group on Health Negotiating Alliance (PBGH-NA) to launch the national Employers Centers of Excellence Network that will offer no-cost knee and hip-replacement surgeries for employees at four highly regarded hospitals in the United States.

New York -- American Express Serve announced a free nationwide cash load network and the addition of new money management capabilities to its full-service reloadable prepaid account. The new features enable Serve customers to load cash for free at more Than 14,000 participating CVS/pharmacy and 7-Eleven stores

The new features include: direct deposit, bill pay, mobile check capture, and personal financial management tools. These enhancements are designed to meet the needs of the nearly 70 million Americans underserved by traditional financial services.

Bridgeview, Ill. -- Alan Rose, CEO and majority owner of Rose Paving Co., a leader in national parking lot management, has been honored at the 2013 Entrepreneurial Excellence Awards (EEAs), sponsored by The Daily Herald Business Ledger, with a Lifetime Achievement Award. Twenty business owners in total were recognized at a ceremony on Sept. 11 hosted by The Daily Herald Business Ledger. The EEAs were presented for the 14th consecutive year, and approximately 160 people were in attendance at the event.

Sales trends at J.C. Penney are improving and year end liquidity is now expected to exceed $2 billion following a recent stock offering, the company said Tuesday morning during an uncharacteristic mid-quarter update on its operating performance.

The CEO of Delhaize Group's European division has resigned, effective Oct. 31, according to the Belgian supermarket operator.

Delhaize said Stefan Descheemaeker had decided to resign as CEO of Delhaize Europe, though the company did not give a reason. Delhaize said that as a result of Descheemaeker's departure, Delhaize Group EVP and Delhaize Group Southeast Europe and Asia CEO Kostas Macheras would report directly to group CEO Pierre-Olivier Beckers, as would Delhaize Belgium CEO Dirk Van den Berghe, effective Nov. 1.

New York -- Fifth & Pacific Cos., formerly known as Liz Claiborne, agreed to sell its Juicy Couture brand to Authentic Brands Group for $195 million, according to various reports.  

"This decision is the result of a process we began last year—studying our resource allocation needs, our capital structure, and the operating risks and opportunities associated with a three-brand portfolio while still maximizing shareholder value," said William McComb, CEO of Fifth & Pacific, in a statement.

Washington, D.C. -- Despite concerns over the government shutdown, import volume at the nation’s major retail container ports is expected to grow 9.1% in October over the same month last year, according to the monthly Global Port Tracker report released Monday by the National Retail Federation and Hackett Associates. The numbers reflect merchandise ordered months before the shutdown as retailers planned for the holiday season.