Finance & Capital Management

Forest City announced it has closed on the sale of Shops at Bruckner Boulevard in the Bronx to Urban Edge Properties for $32 million. The seller expects to net $9.2 million in the transaction.  

The CEO of Lane Bryant has stepped down just four months after receiving a big promotion.      Linda Heasley has resigned as chief executive of plus-sized apparel retailers Lane Bryant and Catherines, which are owned by Ascena Retail, The New York Post reported. Heasley was appointed CEO of Lane Bryant in 2013, after a successful six year stint as chief executive of The Limited. She was given the additional title of CEO of Catherines this past October as part of a company reorganization.    

Kevin Scott is joining Microsoft in the newly created role of chief technology officer (CTO).   Scott most recently served senior VP of infrastructure at LinkedIn, which Microsoft purchased in June for $26 billion.   

On pace to double its online business for fiscal 2016, apparel retailer J. Lindeberg is ready to take control of its e-commerce destiny.    The company, known for its men's and women's fashion and golf apparel and accessories, recently launched in Canada, and now has its sights set on digital expansion into North and South America. At the core of this expansion is bringing its operating platform in-house.  

The Kroger Co. is hiring to fill an estimated 10,000 permanent positions in its supermarket divisions.   The company also announced that its total active workforce grew by more than 12,000 associates in 2016. Over the last eight years, Kroger has created more than 86,000 permanent, new jobs. (The total does not include jobs created as a result of capital investment, such as temporary construction jobs, nor do they include increases due to the company's mergers. Kroger and its subsidiaries today employ more than 443,000 associates.

Amazon is getting ready to break ground on yet another new fulfillment center — its first in Colorado.    The one million-sq.-ft. facility being constructed in Aurora is expected to create more than 1,000 new full-time jobs. Associates at the Aurora warehouse will pick, pack and ship larger customer items, such as sports equipment, musical instruments and furniture.  

Rite-Aid has named Ken Black senior VP and chief human resources officer, effective immediately.   Black, who served as the drug chain’s group VP of compensation, benefits and shared services, will succeed Dedra Castle, who is leaving the company for personal health reasons.   Black will report to CEO John Standley, and be responsible for all aspects of human resources, including training, recruitment, talent management, compensation and benefits, labor relations, leadership development and diversity.

Burlington Stores is promoting three key executives, with the appointments all effective January 30, 2017.   The appointments include the following:    • Jennifer Vecchio, executive VP/chief merchandising officer since May 2015, will be promoted to the newly created role of chief merchandising officer/principal, and will assume responsibility for the merchandise planning, allocation and MIO functions.