Finance & Capital Management

Jamie Egasti was named CEO of Catalina Marketing Corp. and will join the firm’s board of directors. Egasti previously served as CEO of The Folgers Coffee Company and president of global snacks and coffee at Procter & Gamble. Egasti replaces Catalina co-founder George Off, who has served as interim CEO and a member of the company’s board of directors since May, 2011.

Americans spent lots of money on apparel in September, and Target was among the beneficiaries, reporting that the category’s performance exceeded the total company same-store sales increase of 5.3%. Target didn’t elaborate on any key merchandising initiatives that may have influenced the results, such as the launch of the Missoni collection, but it was hardly alone in reporting strong apparel sales.

How good was the 5.3% same-store sales increase Target reported for September? We know it was toward the upper end of the company’s official guidance that called for a low to mid single-digit gain, but according to Richard Hastings with Global Hunter Securities it was the company’s best showing in September since 2006.

New York City -- Vacancies at U.S. regional shopping malls rose to 9.4% in the third quarter (ended Sept. 30), according to property-research firm Reis, Reuters reported. It represents the highest level since Reis began publishing the data in 2000, and was up from 9.3% in the second quarter.

Landlords' asking mall rents rose to $38.81 per square foot in the third quarter, up from $38.77 in the previous three months and $38.72 a year earlier, according to Reis.

New York City -- Bloomingdale’s 520,000-sq.-ft. Manhattan flagship is undergoing a 100,000-sq.-ft. renovation, Women’s Wear Daily reported, with bridge, contemporary, home, shoes, fine jewelry and parts of the designer floor included in the remodel.

The project is estimated to cost $50 million, according to Women’s Wear Daily.
 

On March 22, 2011, Canadian retailer tb!s The Bargain Shop named top American retail executive Beryl “Jack” Buley as its new president and CEO.  A week later, on March 29, I sat down with Buley to discuss his new position for our then-upcoming June/July issue.  Eight weeks later, he was dead.

By Andy Thomas, [email protected]

Chattanooga, Tenn. -- TIAA-CREF and CBL & Associates Properties have announced the closing of their $1.09 billion real estate joint venture to invest in market-dominant shopping malls.

TIAA-CREF has completed its investment in four of CBL’s market-dominant shopping malls: Oak Park Mall in Kansas City, Kan.; West County Center in St. Louis; CoolSprings Galleria in Nashville; and Pearland Town Center in Pearland, Texas.

ATLANTA — The Home Depot Thursday announced it has named Teresa Wynn Roseborough EVP, general counsel and corporate secretary. She will join the company's senior leadership team and report to Frank Blake, chairman and CEO.

Roseborough will be responsible for leading The Home Depot's legal department, as well as its government relations and corporate security services functions. She will assume her new role on Nov. 7.

Tampa, Fla. -- Regional grocer Winn-Dixie said it is working hard to change a tarnished image.

The chain, fresh out of bankruptcy, is in the throes of rolling out its previously announced remodeling, expansion and new development plan that involves an investment of about $100 million.

In Sarasota, Fla., a remodeled store will feature such upgraded features as a café with free Wi-Fi, an imported wine and craft beer section, a sushi bar, pizza bar and several stations where chefs prepare hot dinners for shoppers on the go.