Finance & Capital Management

CINCINNATI — Kroger CEO David Dillon said the company will continue to focus on customer loyalty, after reporting last week that it saw identical-store sales increase for 30 consecutive quarters.

During its shareholders meeting on Thursday, Dillon said the company will build its future growth around its Customer 1st strategy, which emphasizes "[our] people, products, prices and the shopping experience."

Toronto -- J. Crew announced Friday it will open its first Canadian store in August at the Yorkdale Shopping Centre, located in Toronto.

The approximately 5000-sq.-ft. store, which will offer women’s-only clothing and accessories, marks J. Crew’s international debut, joining recent market entries by retailers such as Target and Big Lots in leveraging Canada’s relatively strong economy.

Atlanta -- Marcus & Millichap Real Estate Investment Services said it has promoted James C. “Chris” Rea to senior VP investments.

Rea began his career with Marcus & Millichap in September 1995, specializing in the sale of retail properties. Most recently, he held the position of first VP investments.
 

Parker, Colo. -- Westwood Financial Corp. said it has acquired the Stroh Ranch Retail Center, a 6,336-sq.-ft. property in Parker, Colo., outside Denver. Westwood Financial bought the distressed asset in a short sale and said it is currently eyeing similar opportunities in this sector.

The two-unit, 1999-built Stroh Ranch Retail Center currently counts Pizza Hut as its only tenant after Blockbuster vacated last year, leaving it 21% leased.
 

McLean, Va. -- The Rappaport Cos. announced it has named Charlotte B. Strain as senior VP asset management. Strain will work directly with current clients and third-party accounts and oversee property management, asset management and lease administration functions. She will be responsible for a portfolio of 9 million sq. ft. of retail space and some 1,500 leases.

Strain was previously with Jones Lang LaSalle and AvalonBay Communities.

Washington, D.C. -- A Friday report by Bloomberg said that the U.S. economy grew at a 1.9% pace in the first quarter, edging estimates of a 1.8% growth pace but marking the start of what policymakers project is a temporary slowdown in growth.

The revised rise in gross domestic product matches the median forecast of economists surveyed by Bloomberg News and follows a 3.1% gain in the prior quarter, according to Friday’s Commerce Department figures.

Indianapolis -- Finish Line reported Thursday that earnings for the quarter ended May 28 rose 20% to $16.4 million, compared with $13.6 million in the year-ago period.

Revenue, despite a 6% rise to $299 million, missed Wall Street expectations of $301.4 million.

Same-store sales increased 6.1% for the quarter.

Hoffman Estates, Ill. -- Sears Holdings Corp. disclosed in a Thursday filing that it plans to spin off its Orchard Supply Hardware Stores Corp. business as a separate, publicly traded company.

WASHINGTON — Walmart announced that, through its charitable arm the Walmart Foundation, it has launched a $25 million giving campaign aimed at filling the gaps created when schools close for the summer. Funding to more than 350 local nonprofit organizations will help expand nutrition, learning and employment services for elementary, middle and high school students throughout the 2011 summer months, the company reported.

Walmart said it would address the achievement gap between higher- and lower-income youth by focusing on three key areas:

FORT MYERS, Fla. — Chico's has named Pamela Knous EVP, CFO and chief accounting officer. Knous assumes the principal finance, accounting, investor relations, and strategic planning responsibilities currently under the direction of Kent Kleeberger, who was appointed to the position of EVP, COO in March. Knous is expected to join the company on June 23 and will report directly to Chico's president and CEO, David Dyer.