Finance & Capital Management

Dallas -- Zale Corp. said Monday it has appointed Subha Ramesh as senior VP real estate, effective immediately.

Ramesh, who will report to chief administrative officer Matt Appel, was previously senior VP of Hilco Real Estate. Prior to that, she spent eight years at Limited Brands as senior VP real estate and as VP real estate for Intimate Brands.

WAYNE, N.J. — Toys“R”Us announced that it has entered into a joint venture with Li & Fung Retailing that would make Toys"R"Us Inc. the majority shareholder of Toys"R"Us operations in Southeast Asia and Greater China. With this agreement, the existing Toys“R”Us licensed operations throughout Asia, which currently consist of more than 100 stores and offices across nine markets, will become 70% majority owned and controlled by Toys“R”Us Inc. and 30% owned by Li & Fung Retailing.

Minneapolis -- Target Corp. said Tuesday that its CFO and executive VP Doug Scovanner will retire from his posts effective March 31, 2012.

He will remain with the company for the next five months to assist with the transition, according to the retailer.

A successor has not yet been named.

Scovanner has served in his current role since 1999.
 

DALLAS — Zale Corp. announced that Subha Ramesh has been named SVP real estate. Ramesh will report to Matt Appel, chief administrative officer.

Chicago -- True Value Co. reported Tuesday that profit for the third quarter increased 3.4% to $18.1 million, compared with $17.5 million in the year-ago period.

Revenue rose 3.6% to $445.7 million, from $430.2 million.

According to the cooperative, 788,000 sq. ft. of retail space has been covered to its recommended Destination True Value prototype so far this fiscal year, up 13.5 % from 694,000 sq. ft. last year.
 

Arlington, Va. -- The Retail Industry Leaders Association on Tuesday issued a statement in response to Bank of America’s decision to abandon its plan to charge new fees on debit card users.

Wayne, N.J. -- Toys “R” Us announced Tuesday a joint venture with Li & Fung Retailing that will expand Toys “R” Us in Southeast Asia and Greater China.

With the new agreement, the existing Toys “R” Us licensed operations throughout Asia, consisting of more than 100 stores and offices across nine markets, will become 70% majority owned and controlled by Toys “R” Us and 30% owned by Li & Fung Retailing.

Jacksonville, Fla. -- Winn-Dixie Stores reported Monday a loss of $24.1 million in the fiscal first quarter, compared with a loss of $76.8 million in the year-ago period.

Revenue rose 3.1% to $1.59 billion, from $1.54 billion last year, helped by success from its gas-related reward program. Sales just missed Wall Street’s expected $1.6 billion in revenue.

Same-store sales rose 3.3%. During the quarter, the company opened two additional transformational remodeled stores that Winn-Dixie continues to monitor for additional roll-out.