Finance & Capital Management

Retail Properties of America named Paula Maggio to the role of executive VP, general counsel and secretary, effective May 2.

Maggio joins Retail Properties of America following a 16 year career with Strategic Hotels & Resorts where she most recently served as executive VP, general counsel and secretary. Prior to that she practiced law with Altheimer & Gray, where she focused primarily on real estate and hospitality law.

One of the nation’s largest franchisees will soon also be operating GNC stores.

Moving ahead with its plan to reduce its corporate-owned store footprint, GNC announced plans to sell 84 company-owned locations to Dallas-based Sun Holdings for about $17 million. The retailer revealed the sale amid disappointing first quarter results.

The world’s largest social media network showed its chops in the first quarter, reporting impressive increases in revenue, earnings and users that shattered analysts’ expectations.

Facebook reported $2.2 billion in profit for the quarter, ended March 31, up from $1.8 billion in the year-ago period. Revenue totaled $5.38 billion, up 52% over the year ago period.

May 20 is shaping up as a momentous day at Brixmor Property Group with newly appointed CFO Angela Aman slated to begin work the same day as recently appointed CEO Jim Taylor.

Aman’s appointment as CFO was announced in conjunction with the release of Brixmor’s first quarter financial results on April 26 and follows the April 12 announcement that James Taylor had joined the company as CEO.

It’s closing time for Sports Authority, which is giving up on reorganization.

An attorney for the sporting goods retailer told the judge in bankruptcy court on Tuesday that the company is no longer pursuing reorganization and exiting Chapter 11. Instead, it will look for buyers to purchase some or all of its remaining stores.

“It has become apparent that the debtors will not reorganize under a plan but instead will pursue a sale,” company attorney Robert Klyman said in court.

Academy Sports + Outdoors has opened a 1.6 million square foot distribution center that dramatically increases the company’s ability to support store expansion and omnichannel initiatives.

The man who turned a single struggling bookstore he bought in 1965 into a retail empire is retiring from active duty.

Leonard Riggio, founder and executive chairman of Barnes & Noble Inc., announced that he will retire as chairman in September, following the chain’s annual shareholder meeting.

“I’ve done everything I have wanted to do in business and now it is time for me to pursue the many other endeavors related to my philanthropic and social interests,” said Riggio.

The number of Sephora shops inside J.C. Penney stores is about to increase.

The department store retailer announced it will open 60 additional Sephora shops in Penney stores, including a flagship set to open in November.

Office Depot put the blame for disappointing first-quarter financial results on its delayed buyout by Staples.

"The protracted regulatory review of the pending Staples acquisition continues to have a substantial disruptive impact on our business," stated Roland Smith, chairman and CEO, Office Depot. “Our North American Business Solutions Division and International Division are more impacted by this disruption and accordingly, both failed to meet our sales and profit expectations this quarter.”

Payments are no longer a means to an end for accepting money and finalizing a transaction.

According to a new global survey of senior retail executives responsible for payments strategy and/or payments IT strategy from payments company ACI Worldwide and technology analyst firm Ovum, “2016 Global Payments Insight Survey: Merchants and Retailers,” up to 81% of retailers view payments as a clear part of their business strategy.