Finance & Capital Management

Oak Brook, Ill. – McDonald’s Corp. reported net income of $1.2 billion in the first quarter of fiscal 2014, a 5.5% decline from $1.27 billion in the same quarter a year earlier. Total revenues grew 1% to $6.7 billion, from $6.2 billion.

ChannelAdvisor, a leading provider of cloud-based e-commerce solutions, has promoted Ryan Walsh to chief revenue officer.

"Ryan's contributions to the company have been extraordinary for over a decade, and in recent years he has been a key architect of our accelerating growth story," said David Spitz, ChannelAdvisor president and COO. "I’m pleased to recognize Ryan’s talents with this promotion, and as we scale our sales organization globally, I’m confident that Ryan’s leadership will continue to serve us well."

Dallas — Shayan Holdings has purchased the 29,200-sq.-ft. Lebanon Ohio Center, an unanchored strip retail complex, in Frisco, Texas. The seller was LandPlan Development Corporation. The price was not disclosed.

The center is currently 90% occupied. Tenants include CrossFit Remedy and Arts and Technology Institute. CBRE’s Dallas office represented the seller in the transaction and conducted the financial analysis.

Tampa, Fla. - The Melting Pot Restaurants  plans to expand its footprint in select markets throughout the U.S., and Canada. Domestically, the company is looking to recruit new franchisees in cities such as Anchorage, Alaska; Little Rock, Ark.; Fresno, Calif.; Hartford, Conn.; Des Moines, Iowa; New York City; Chattanooga, Tenn.; Charleston, S.C.; and Portland, Maine, as well as Houston and El Paso, Texas.

New York — Vornado Realty Trust plans to spin off nearly 16.1 million sq. ft. of shopping center assets into a new publicly traded REIT by the end of 2014, leaving the company with a largely office-centric portfolio, according to SNL Real Estate.

The move will simplify Vornado’s investment strategy and enable the company to focus on the ownership of office assets in the Washington, D.C., and New York City regions, including the high-value Manhattan office over retail assets.

Cincinnati -- Associates working at Kroger stores in the Atlanta metro and surrounding area have ratified new labor agreements with UFCW Local 1996. The contracts cover 23,598 associates working in 163 stores in the Atlanta area and 12 in Savannah.

New York -- E-commerce company Birchbox, provide subscribers with monthly boxes of personalized beauty products for a monthly fee, announced Monday that it has raised $60 million of Series B funding from a group led by Greenwich, Conn.-based Viking Global Investors, Crain’s New York reported.

Birchbox, which is set to open its first physical store this spring, now has more than 800,000 subscribers receiving 6,500 different products from 800 brand partners.

American Express added Walmart’s U.S. network of 4,100 stores as locations where customers can participate in the card issuers prepaid Serve offering.