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Finance & Capital Management

  • China tops list of best developing markets for e-commerce growth

    New York -- Large emerging markets with an active online user base and solid infrastructure offer retailers the greatest e-commerce potential in the near-term, according to a new study by A.T. Kearney’s Global Consumer Institute. The study ranks the 10 countries with the greatest potential for e-commerce growth, and China tops the list, followed by Brazil (#2), Russia (#3), Chile (#4) and Mexico (#5).

  • 7-Eleven completes acquisition of 18 Open Pantry stores

    Dallas -- 7-Eleven announced that it has completed a transaction to acquire 18 Open Pantry convenience store locations in Wisconsin, primarily in the greater Milwaukee and Madison markets. Terms of the deal were not disclosed.

  • E-commerce innovator adds tech talent

    Former Hewlett-Packard executive Shelley Perry was named SVP and chief technology officer at online electronics retailer Newegg, the company announced Monday. The company also name Merle McIntosh as SVP product management.

    “Newegg is dedicated to attracting top industry talent as we prepare to propel the company through our next stage of growth,” said Bob Bellack, CEO of Newegg North America. “Both Shelley and Merle are tremendous additions to our leadership team and we’re all thrilled to have them on board.”

  • Target donates $15K for flood relief

    MINNEAPOLIS — Target has donated $15,000 in monetary support and product to assist with Duluth flood relief efforts. A $10,000 cash donation was given to the American Red Cross Northland Chapter to support their response efforts. An additional $5,000 in gift cards will be donated to local nonprofit organizations for essentials such as water and food.

  • Sports Authority to open in former Mervyn’s space

    Santa Fe, N.M. -- Fort Worth, Texas-based Trademark Property Co. said that Sports Authority will open a new store at Santa Fe Place mall in Santa Fe, N.M.

    The 40,000-sq.-ft. store will open in a vacated Mervyn’s anchor space at the center. Construction is slated to launch in October with opening planned for spring 2013. It will be the second Sports Authority in New Mexico; the other store is located in Albuquerque.

  • Nordstrom Rack to open in new center in El Paso, Texas

    Seattle -- Nordstrom said it will open a Nordstrom Rack at The Fountains at Farah, a new power and lifestyle shopping center in El Paso, Texas. The store will be approximately 35,000-sq. ft. and is scheduled to open in the fall 2013.

    The Fountains at Farah, with over 600,000 sq. ft. of retail and restaurant space, is being developed and managed by Centergy Retail LLC, Dallas.

  • Former Whirlpool exec named CIO at Lowe's

    MOORESVILLE, N.C — Former Whirlpool executive, Kevin Summers, has been appointed chief information officer of Lowe's, effective July 9. Summers will report to chairman, president and CEO Robert Niblock. He replaces Michael Brown, who retired earlier this month.

  • Schimenti Construction tapped to build new Victoria’s Secret

    Ridgefield, Conn. -- Victoria’s Secret has selected Schimenti Construction to build its store located in the Quaker Bridge Mall, Lawrenceville, N.J.
     
    Construction of the 13,500-sq.-ft. store is scheduled to begin mid-June and is scheduled for completion in October. The architect for the project is Fitch, Scottsdale, Ariz.
     

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