Finance & Capital Management

The low single-digit apparel-and-accessories comps increase Target reported in October put the company squarely in the middle of the pack with department store and specialty apparel competitors.

Target reported a 3.3% same-store sales increase for October and a similar figure could be in order for November as the company again provided guidance calling for a low-to-mid single-digit increase.

New York City -- A truck driver who slipped and fell on ice and grease while he was making a delivery to a Walmart store in northern Colorado can collect a nearly $10 million award after the state Supreme Court upheld a jury verdict in the case on Monday, the Associated Press reported.

New York City -- The president and CEO of Aaron's Inc. has resigned.

Robert C. Loudermilk, the son of the company's founder, announced his resignation Friday afternoon. In a statement, the appliance and furniture-rental company said Loudermilk was leaving due to health reasons. He also resigned from Aaron's board of directors.

Ronald W. Allen, former chairman and CEO of Delta Air Lines, will serve as Aaron's interim president and CEO.

Central Ohio’s largest mall opened 10 years ago, and has continued to improve and evolve over a sometimes tumultuous decade, thanks to a hands-on management approach by its owner Glimcher Realty Trust, based in Columbus, Ohio.  Chain Store Age talked with Michael Glimcher, president and CEO of Glimcher Realty Trust, about Polaris Fashion Place and how it has stood the test of time.

In its 10-year history, how has Polaris Fashion Place changed/evolved over the decade, especially during the more recent recessionary climate?

When a major mall wants to create a stir, adding a premier department store retailer such as Bloomingdale’s will usually do the trick.

In early November, Chicago-based General Growth Properties announced that it will add Bloomies as an anchor to its Glendale Galleria property, in Glendale, Calif. As well, said GGP, the center will undergo an expansive renovation, incorporating aesthetic updates to both the interior and exterior of the property.

Chicago -- Jones Lang LaSalle said Monday that it has launched IntelliCommand, the industry’s first integrated building management solution that combines cloud-based, smart-building technology with a team of engineering and operations professionals to enable 24/7, real-time remote monitoring and control of facilities and portfolios worldwide.

Northbrook, Ill. -- Pine Tree Silverpeak Retail Partners, a joint venture between Northbrook, Ill.-based Pine Tree Commercial Realty and New York City-based Silverpeak Real Estate Partners, recently teamed up with New York City-based Privet Investments in the acquisition of Hamilton Place Shopping Center in Auburn, Ala.

The partners purchased the grocery-anchored shopping center from an Alabama-based developer, assuming existing financing. Publix anchors the 79,540-sq.-ft. center.

City of Industry, Calif. -- Hot Topic Inc. said that its CEO, Lisa Harper, 52, has also been named its board chairwoman.

Former chairman Bruce Quinnell will stay on as chairman of the audit committee, but he will not seek re-election to the board when his term ends in June, the company said.

The company also said Matthew Drapkin was named lead director.
 

New York City -- Best Buy Co. said Monday it is buying out its joint venture partner, Carphone Warehouse Group PLC, in its fast-growing North American mobile business for $1.34 billion. As part of the reorganization of its relationship with the U.S. consumer electronics giant, Carphone Warehouse will shutter the 11 pilot big-box Best Buy stores it opened last year in the United Kingdom.