Finance & Capital Management

Bentonville, Ark. -- Wal-Mart Stores, announced Monday that the company has completed its investment for a 51% stake in South African-based Massmart Holdings Limited.

Cincinnati -- Macy’s has entered into a $1.5 billion bank credit agreement that will mature on June 20, 2015. It replaces a previous $2 billion facility, which was set to mature on August 30, 2012. Joint lead arrangers for the new agreement are J. P. Morgan, Bank of America Merrill Lynch, Credit Suisse, U.S. Bank and Wells Fargo.

Brandon, Fla. -- Jacksonville, Fla.-based Regency Centers said it has leased restaurant space in Brandon, Fla., at Bloomingdale Square to Chipotle Mexican Grill.

Chipotle has leased 2,650 sq. ft., bringing the center to 96% leased. The tenant is slated to open for business in fall 2011.

The 267,736-sq.-ft. shopping center is anchored by a Walmart, Bealls and Publix Super Market alongside national retailers such as Dollar Tree, Hallmark, RadioShack and Bank of America.
 

Newport Beach, Calif. -- CB Richard Ellis announced Monday that Scott Riddles has joined the company’s Western Division Retail team as a senior VP. Riddles will be joined by his current team – Derek Fitch, Rob Crumly and Ryan Riddles – and all will be based in the firm’s Newport Beach office.

Riddles comes to CBRE from SRS Real Estate Partners, formerly Staubach Retail, where he was a founding partner.

The following excerpts are from the Workplace Class Action blog of Seyfarth Shaw LLP, one of the nation’s leading national employment and labor law firms. (To read the full posting, go to workplaceclassaction.com)

Today, the U.S. Supreme Court issued its long-awaited and much anticipated opinion in Dukes, et al. v. Wal-Mart Stores, Inc. The Supreme Court reversed, and ruled in favor of Wal-Mart.

My husband loves Apple. In fact, I cannot remember one single trip to Mall of Louisiana (Baton Rouge) that hasn’t included a stop-in at the Apple store. There, he plays with the gadgets -- iPhones, iPads, MacBooks, iMacs, iPods -- and wanders the store, as content to browse the high-tech aisles as I am to shop the designer shoe department at Dillard’s.

Washington, D.C. -- In a ruling that may mean new limits on class-action suits, the Supreme Court on Monday ruled for Wal-Mart Stores in the largest sex-discrimination lawsuit in history as it put the brakes on a massive job discrimination lawsuit against the chain.

San Francisco -- Best Buy Co. has reportedly agreed to pay $10.2 million in a settlement related to a job discrimination class-action lawsuit, Reuters reported.

The lawsuit, filed in 2005 in U.S. District Court in Northern California, alleged that the retailer discriminated against women, African-American and Latino employees by denying them promotions and more lucrative sales positions. Best Buy has denied any wrongdoing.