Finance & Capital Management

Chicago -- General Growth Properties and Italian restaurant chain Buca di Beppo announced Tuesday the scheduled opening of 10 Buca di Beppo restaurants set to open at various properties within the GGP mall portfolio during late summer 2012.

The multi-restaurant deal marks a significant expansion of the Buca di Beppo restaurant group. New mall locations include Governor’s Square Mall in Tallahassee, Fla., August (Ga.) Mall, Oakwood Center in New Orleans and Town East Mall in Dallas.

Sales in the consumer electronics space would have been abysmal in 2011 were it not for tablet and e-readers, according to data from market researcher The NPD Group, which shows Target has an opportunity to gain share.

Target’s recent moves to deepen its relationship with Apple could be beneficial in that regard, as it was Apple that drove CE activity in 2011 and is likely to do so again in 2012. Currently, Target is not among the top five CE retailers, which NPD lists as Best Buy, Walmart, Apple and a tie between Staples and Amazon.

Woonsocket, R.I. -- CVS Caremark on Tuesday released an economic impact study of its contribution to the economy of its headquarters state of Rhode Island.

The Pricewaterhouse Coopers-conducted study showed that the company's Rhode Island operations contributed more than $1.2 billion to Rhode Island's GDP in 2010, approximately 12,000 jobs, $831 million in labor income, and $116 million in state and local taxes.

Seattle -- A Tuesday report by the Seattle Times said that Eddie Bauer chief Neil Fiske, who joined the retailer in 2007 and led it through bankruptcy, will leave his post effective March 2.

The company has not given a reason for Fiske’s sudden departure. David Chamberlain, executive chairman, will serve as interim CEO until a permanent replacement is named. Fiske will remain with the company as a consultant to ensure a smooth transition.

LAKELAND, Fla. — Publix Super Markets has promoted Kelly Williams-Puccio to executive director of Publix Super Markets Charities.

In her new position, Williams-Puccio will be responsible for the strategic direction of the foundation, managing foundation giving policies and processes and maintaining the charitable legacy of company founder, George Jenkins.

SUNBURY, Pa. — Weis Markets on Monday reported an increase in 2011 sales of 5% to $2.8 billion.

Weis said its comparable sales for the calendar year also were up, increasing 4.2% for 2011, compared with the year-ago period.

SUNBURY, Pa. — Weis Markets on Monday announced it has entered into an agreement to purchase three Pennsylvania-based Genuardi's stores from Safeway.

"We're extremely pleased to be adding these stores to our store base," Weis Markets president and CEO David Hepfinger said. "We look forward to serving these communities as the lead local merchant as we have in 33 counties throughout central, eastern and Northeastern Pennsylvania. We will also be reaching out to the associates of these stores to discuss employment with our company."

Sunbury, Pa. -- Weis Markets reported Monday that net income for the year ended Dec. 31 increased 10.7% to $75.6 million. Sales for the period rose 5% to $2.8 billion, and same-store sales increased 4.2%.

In the fourth quarter, the grocer saw an even stronger performance, as net income surged 37%, sales rose 11.4% and comps increased 4.8%.