Finance & Capital Management

INDIANAPOLIS -- Finish Line announced that Don Courtney will retire as president e-commerce, following a transition period. Courtney will remain in his current role throughout the transition as the company conducts a search for his successor. He will continue to report to Finish Line president and chief merchandising officer Sam Sato. The e-Commerce leadership team that reports to Courtney remains in place.

Target had forecast a mid-single decline in its March same-store sales, so the 5.5% decline it reported last week was no surprise. The late arrival of Easter is messing with retailers’ sales comparisons, so even though March was a down month for Target, it could have been worse as the comparison with the prior year was a lofty 10.3%. Therefore, last month’s 5.5% decline is a victory of sorts, and March results for retailers overall were better than expected.

New York City -- Lexlie Wexner, 73, the CEO and founder of Limited Brands, received a 2010 pay package nearly double the year before, according to an analysis by The Associated Press. The increase came as business improved for the parent of Victoria's Secret and Bath and Body Works.

Wexner's total compensation totaled $20.1 million, up from $10.4 million in 2009, because of a hefty increase in stock and option awards and a higher performance-based bonus.

Washington, D.C. -- Import cargo volume at the nation’s major retail container ports is expected to be up 9% in April over the same month last year, according to the monthly Global Port Tracker report released Monday by the National Retail Federation and Hackett Associates.

Cary, N.C. -- Jacksonville, Fla.-based Regency Centers said it has leased 1,626 sq. ft. of restaurant space NY Bagel Café & Deli, which is opening its new store at Shoppes of Kildaire, located in Cary, N.C.

NY Bagel is slated to open this summer, and its addition brings the shopping center to 97% leased.

The 147,651-sq.-ft. Shoppes at Kildaire is anchored by Gold’s Gym and Home Comfort Furniture alongside national retailers such as Trader Joe’s, Staples, Massage Envy and Subway.

New York City -- Robert K. Futterman & Associates announced the promotions of Gary Alterman, Sal Ferrigno, Jackie Totolo and Elyse Bandel in the firm’s New York office.

Alterman has been promoted to executive VP from senior VP. Ferrigno has been promoted to VP from senior managing director. Totolo has been promoted to director from associate.  Bandel has been promoted to executive VP, marketing & communications, from senior VP, marketing & communications. 

Atlanta -- Commerce, Mich.-based LaVida Massage announced the opening of its second location in the Atlanta area.

The new 2,800-sq.-ft. center, located in Canton, Ga., is slated to open in May. The center will be owned and managed by Mike Spidel.
 

By Lonnie Giamela, [email protected]

Generation Y workers, defined as those individuals born between 1977 and 1995, are becoming an increasing part of our workforce.  These individuals occupy a wide variety of positions from cashiers at a retail store, to warehouse employees at a distribution center, to administrative employees at a corporate office.

WASHINGTON — While the calendar shift of Easter may have taken a toll on retailers' march performance, April sales should see a boost, as the National Retail Federation noted that consumers intend to spend more this year than in 2010.

After being left for dead four years ago, Pier 1 Imports has recuperated fully to the point where it recently embarked on a new three-year plan to restore growth to the company.

Key elements of the plan call for the acceleration of e-commerce, improvements to existing stores, new store expansion and investments in infrastructure to support the enterprise and improve efficiency.