Finance & Capital Management

PetSmart is making changes to its management team and organizational structure in conjunction with the retirement of president and COO Joseph O’Leary. The changes will become effective April 4.

Assuming the role of president will be current CEO David Lenhardt.

New York -- Despite severe winter weather travails during the holiday shopping season, the National Retail Federation said Tuesday that December retail sales didn’t take the hit that many feared.

In fact, taking advantage of heavy promotions and last-minute deals, shoppers were able to move the December retail sales needle up 0.4% month-to-month, excluding automobiles, gas stations and restaurants, and up 4.6% year-over-year.



Environmental Defense Fund has hired Diane Munns as senior director, smart power collaboration.

Munns joins EDF from MidAmerican Energy Company where she served as VP of regulatory relations and energy efficiency since 2008. She represented the company at national and regional regulatory forums and was responsible for direct management of the energy efficiency group, including strategy, personnel, budget and compliance.

Phoenix -- PetSmart Inc. announced changes to its management team in conjunction with the retirement of its president and COO, Joseph O’Leary.

PetSmart CEO, David Lenhardt, will assume the title of president and CEO when O’Leary steps down. The company will not replace the COO position. Instead it will realign the responsibilities among four newly created executive VP positions, with Lenhardt assuming the title of president and CEO, with the changes effective April 4, 2014.   

Oakbrook Terrace, Ill. — Mid-America Real Estate Corp. has brokered the sale of two centers on behalf of Retail Properties of America.
 
First, Phillips Edison & Company purchased the 134,229-sq.-ft. Duck Creek Plaza in Bettendorf, Iowa, for $19.7 million. Schnucks and Marshalls anchor Duck Creek Plaza, and Home Depot serves as a shadow anchor. Mid-America Real Estate Corp. in cooperation with Mid-America Real Estate — Iowa LLC brokered the transaction exclusively on behalf of RPAI.

Best Buy has elected Cabela's president and CEO Thomas L. Millner to its board of directors.

“Tommy is a well-regarded CEO who has successfully transitioned his organization from a traditional retailer to one that is highly respected as an effective omnichannel player,” said Hatim Tyabji, chairman of the Best Buy board of directors. “Best Buy is on the same journey and Tommy’s insights will, no doubt, be valuable as the Company looks to even better serve its customers wherever and however they want.”

New York — RKF has helped arrange the sale of a 12,250-sq.-ft. property on Manhattan’s Upper East Side at 1151 Third Avenue for $18 million.

RKF Investment Sales & Advisory Services represented the buyer, 1151 Third Avenue LLC, in the transaction. HelmleySpear represented the seller, 201 East 67th Street. The transaction closed in late October.

Victory Electronic Cigarettes announced that Bill Fields, former president and CEO of Walmart stores division, will join its board of directors.