Finance & Capital Management

New Orleans -- Stirling Properties and JCH Development have announced a joint venture to develop the first 6,000-sq. ft. building of Magnolia Marketplace Shopping Center in New Orleans at the intersection of South Claiborne Avenue and Fourth Street. A second phase of the development will commence this fall at South Claiborne and Toledano.

New York -- Following a two-year search, Foot Locker has moved one of its Manhattan locations from 541 Broadway to 440 Broadway in SoHo one block north of Canal Street, according to ABS Partners Real Estate.

ABS Partners negotiated a 10-year net lease on behalf of Foot Locker for a 9,000-sq.-ft. two-story building plus a lower level.

New York -- RKF said it has arranged the sale of an 18,850-sq.-ft. mixed-use building located at 138 Spring St. in Manhattan's SoHo district.

The building encompasses 2,000 sq. ft. on the ground floor and 2,600 sq. ft. on the lower level, all occupied by high-end eyewear retailer ILORI. The balance consists of 14,250 sq. ft. of full-floor commercial loft space.

FORT WORTH, Texas — RadioShack has promoted Marty Amschler to SVP of franchise. In his expanded role, Amschler will continue to lead RadioShack's dealer franchise operations while also now providing senior leadership to the company's commercial sales division and B2B sales team.

DALLAS — Neiman Marcus reported net earnings of $71 million for the third quarter ended April 27, a 13% increase from $63 million in the prior year. 

The company’s total revenues for the quarter were $1.1 billion, a 4% increase from $1.06 billion in the prior year. Comparable revenues increased 4%. 

GOODLETTSVILLE, Tenn. — Dollar General reported record sales, operating profit and net income for the first quarter ended May 3, thanks to strong growth in its consumables categories.

Three Scotts Miracle-Gro board members resigned following the delivery of a unanimously supported reprimand of CEO Jim Hagedorn that stemmed from the use of inappropriate language. 

Hagedorn apologized in a statement.

"While I have a tendency to use colorful language, I recognize my comments in this case were inappropriate and I apologize," Hagedorn said. "I, along with the rest of our board members, consider the matter resolved and I have made a personal commitment to prevent a future recurrence."

WEST CHESTER, Pa. — QVC, a global leader in video and e-commerce retail, has appointed former Hershey’s executive Ted Jastrzebski as the company’s new CFO. Jastrzebski will oversee QVC's financial operations, and will report to president and CEO Mike George.

BOCA RATON, Fla. — Office Depot has reached an agreement to sell its 50% stake in Office Depot de Mexico S.A. de C.V. to its joint venture partner Grupo Gigante, S.A.B. de C.V. for roughly $690 million in cash.

Office Depot de Mexico, which was founded in 1994 as a joint partnership between Office Depot and Grupo Gigante, has more than 248 stores throughout Mexico and Central America and more than $1.1 billion in annual sales.

San Francisco -- Gap Inc. announced Monday that it will introduce the Gap brand to Paraguay and Hungary through new agreements with existing franchise partners: Neutral for Paraguay and Gottex Brands for Hungary. The first Gap store will open later this year in Paraguay, joining Neutral’s 2012 Gap launch in Uruguay. And, in Hungary, Gottex Brands will open two Gap stores in Budapest. A specific timeline wasn’t released.