Finance & Capital Management

Orlando, Fla. -- Nordstrom announced plans to shutter its store in the Florida Mall Orlando, Florida. Originally opened in 2002, the store will close its doors on August 16, 2014.

Cincinnati - The Kroger Co. has published its eighth annual sustainability report, setting its first-ever water conservation goal and providing a progress update on moving retail locations toward "zero waste" and sourcing 100% certified sustainable palm oil. Since 2000, Kroger has reduced energy consumption by nearly 35%. It has 557 Energy Star certified store locations and another 517 that are eligible.

Highlights of the report include:

La Quinta, California —The Mansour Group has announced the sale of a 36,000-sq.-ft. Stein Mart building located in La Quinta, California. Sale price was approximately $8 million. 

The property was sold via Mansour Group by an unnamed developer to a private, all-cash investor out of San Diego.

The freestanding building is situated in Washington Park, a 600,000-sq.-ft. power and lifestyle center anchored by Lowe’s, Target, Cost Plus, Office Depot, Trader Joe’s with plans for additional construction.

Columbus, Ohio — Glimcher Realty Trust has appointed Kenneth Marshall to the role of VP, Development. In this position, Marshall will support the company’s development strategy, contributing to the leadership and implementation of redevelopment projects throughout the portfolio.

Prior to joining Glimcher, Marshall served as executive VP of the Commercial Division of Colonial Properties Trust (now MAA). In addition, he has served as VP and Regional Development Director for The Westfield Corp.

Mars has named Debra A. Sandler as its chief health and wellbeing officer and elevated Tracey Massey to the role Sandler previously held as the acting president of Mars Chocolate, North America.

The creation of the chief health and wellbeing officer role is a reflection of the strategic priority that the company is placing on issues such as global food security, safety and quality, as well as on improving the nutritional value of its portfolio.

Monroe, Mich. -- La-Z-Boy Inc. announced the promotion of Daniel King to president of the company's retail Segment. He has served as VP of La-Z-Boy's retail operations since July of 2011.

In his new role as President, King will be responsible for all facets of the company-owned La-Z-Boy Furniture Galleries stores, including sales, store operations, training and merchandising functions. The company owns 101 of the 315 stores and, in fiscal 2014 the segment recorded approximately $300 million in sales.

Sacramento, California — West Coast shopping center owner/operator Pacific Castle has acquired four Sacramento-area properties for approximately $40 million, signaling an ongoing trend to add to the company’s diversified portfolio.

Cal-Maine Foods isn’t due to report its financial results for the fourth quarter and fiscal year ended May 31 until the end of the month, but already it has reached annual sales of more than 1 billion dozen eggs for fiscal 2014 with an expected total of 1.014 billion dozen fresh eggs sold.

The milestone marks a new record year of sales for Cal-Maine Foods and the first time any domestic or world egg supplier has surpassed annual sales of more than 1 billion dozen eggs.