Finance & Capital Management

San Francisco – Gap Inc. has reportedly experienced a 10% increase in job applications since its February announcement that it would raise its minimum wage for employees to $10 per hour by 2015. According to Bloomberg, the increase has occurred across all Gap brands, including Banana Republic and Athletica, but has been most pronounced at Old Navy, where applications had previously been declining.

Tewksbury, Mass. – Demoulas Supermarkets Inc. has fired CEO Arthur T. Demoulas. The retailer also fired director of operations Bill Marsden and VP of grocery Joe Rockwell.

Demoulas had been waging a public battle with his cousin Arthur S. Demoulas, a stakeholder and director of the company, about finances. Arthur T. Demoulas has claimed that his cousin seeks to raise prices and lower wages. The cousins have also publicly disagreed about agreements with suppliers and vendors.

It’s a common retail scenario: Last year, several sites deployed consistent schedules and set-points and also staged energy-consuming assets into groups that engaged at different times of the day. These executed measures led to significant kWh savings.

▲Construction and construction costs are not an exact science: Information derived from data may be predicable; people are not.

▲ The process takes time: Construction encompasses more that just the time it takes to physically build a store. It also involves the lease-negotiating phase, drawing phases, permit phase and bidding phase.

▲ Smaller spaces don’t always translate into big cost reductions: It’s often assumed that as store square footage gets smaller, the overall costs go down.

▲ Customer experience: Poorly maintained stores cost sales and dilute the brand and customer experience. Not giving facilities the funding required to keep stores clean and in good condition will impact the bottom line in that customers will shop elsewhere. Today, more than ever, shoppers have high expectations regarding the look and feel of a store, and they also have many more options from which to choose.

Minneapolis – Target Corp. reportedly experienced difficulties in areas including product mix and corporate creativity under ousted CEO Gregg Steinhafel. According to the Wall Street Journal, these difficulties preceded any problems relating to Target’s fall 2013 data breach or expansion into Canada and helped lead to Steinhafel’s essentially forced resignation.

Indianapolis — Simon Property Group has announced that Andrew Juster, a 25-year Simon veteran, will move up to the post of CFO in early 2015, succeeding retiring CFO Stephen E. Sterrett. Juster has served as Simon’s treasurer since 2000, managing the company’s capital market activities, implementing its corporate financing strategy, maintaining banking and lending relationships, leading the treasury function and managing Simon’s relationships with rating agencies.

Subscription billing management company Recurly has appointed Renato Mascardo, former VP of engineering at Rosetta Stone, as its new chief technology officer.

“We are delighted to have Renato join our leadership team,” said Dan Burkhart, CEO for Recurly. “He brings a passion software innovation and a pride in world-class execution which is exciting for a company at our stage of growth.”