Finance & Capital Management

New York -- Kmart will shutter two locations in the Philadelphia area this spring, Philadelphia Business Journal said. The locations, at The Gallery and at 900 Orthodox St., will close in late April.

Downers Grove, Ill. – The board of directors of FTD Companies, Inc. has appointed Michael Silverstein as a director of the company, effective Jan. 21, 2014. Silverstein will serve as a class I director with a term expiring at the company's 2014 annual meeting of stockholders.

Canton. Mass. – Dunkin’ Donuts has signed a multi-unit store development agreement with existing franchise group, OKD Holdings, to develop 13 new restaurants throughout Oklahoma City. The first of the planned restaurants will open in 2015.

Together, this team led by second generation Dunkin' Donuts franchisee Misha Goli and his partners will manage and oversee the company's daily operations for each restaurant. Goli currently owns four restaurants throughout Oklahoma City.

The Walmart Foundation’s Colorado State Giving Program has awarded $321,000 to eight Colorado nonprofits that are helping to fund local programs to improve education, women’s economic empowerment, healthy eating and fighting hunger.

The organizations include We Don’t Waste, Lapuente Home, Care and Share, Kids Aid, Project Angel Heart, Women’s Resource Agency, Broadway Assistance Center and Discover Goodwill of Southern and Western Colorado.

Madison, Wis. – Target Corp.’s data security breach has already cost all credit unions between $25 million to $30 million. Those numbers are expected to rise in coming weeks as more of the cooperative financial institutions report their costs and as fraud losses are incurred down the road, according to preliminary results of a survey of credit unions by the Credit Union National Association (CUNA).

Haier America president and CEO Shariff Kan has stepped down and will be replaced by Adrian Micu, effective Feb. 10, according to the company.

Micu comes to Haier with more than 25 years of executive-level engineering, technology and product development experience within the appliance industry. Most recently, he held the position of VP engineering with Whirlpool Corporation.

ALEXANDRIA, Va. -- The U.S. convenience store count increased to 151,282 stores as of December 31, 2013, a 1.4% increase (2,062 stores) from the year prior, according to the 2014 NACS/Nielsen Convenience Industry Store Count. Convenience stores account for 34.3% of all retail outlets in the United States, according to Nielsen, which is significantly higher than the U.S. total of other retail channels including drug stores (41,378 stores), supermarket/supercenter (37,459 stores) and dollar stores (24,853 stores).

Kirkland, Wash. – VisibleBrands has raised approximately $2.3 million through a Series B financing to support a regional expansion of its patented in-store digital couponing platform. In preparation for the company’s regional expansion, VisibleBrands promoted Tim Belvin to CEO, succeeding founding CEO Tim Morton.