Marketing

HOFFMAN ESTATES, Ill. — Sears Holdings announced that David Lukes has joined the company in its real estate business unit as president real estate development. Lukes comes to Sears Holdings from Mall Properties Inc. where he served as president and CEO of the privately owned $3 billion real estate firm. 

New York -- Columnist Jeff Green isn’t really surprised that another retailer has joined the ranks of those chains that are downsizing or rolling out smaller format. But he finds the fact that Kohl’s has joined the crowd a little bit different and more interesting.

Check out Retail Rap by Jeff Green by clicking here.

Chicago -- A report released Tuesday by research firm Technomic found that sales among the 500 largest U.S. restaurant chains increased 3.4% to $242 billion in 2011.

That compares to just a 1.8% increase in 2010.

Of the 500 restaurants analyzed by Technomic, more than 60% posted at least nominal sales increases; just 193 saw sales declines in 2011, compared with 231 in 2010.

New York -- StoreBoard Media announced Tuesday that its licensee, StoreBoard Media Canada, has added Staples Canada and Zellers to its in-store billboard network, which offers marketers an opportunity to advertise their brands on security pedestals located at entranceways and in other high-traffic areas of stores.

The pair of agreements will add nearly 4,000 security pedestals to the StoreBoard Canada network.

Columbus, Ohio -- DSW Inc. reported Tuesday that profit for the fourth quarter rose to $19.4 million from $200,000 a year earlier, beating analysts’ estimates for the quarter.

Fourth-quarter revenue rose 10% to $513.7 million, surpassing Wall Street’s estimated $511.2 million in revenue. Same-store sales increased 5.6%.

Hoffman Estates, Ill. -- Sears Holdings Corp. announced Tuesday that it has named David Lukes as president, real estate development for the company.

Lukes was previously president and CEO of real estate firm Mall Properties.

Lukes has been charged with leading Sears’ efforts to further develop its real estate assets, including those that are now non-retail.

Cincinnati -- Kroger announced that Tim Brown now will be responsible for stores in western Tennessee, Kentucky, Mississippi, Arkansas, and Missouri, as president of the company's Delta division.

Brown, 52, has been VP operations in the company's Delta division, based in Roanoke, Va., since 2011. Before that, he served as the Mid-Atlantic division's VP merchandising since 2009.
 

New York City -- J. Crew Group reported Monday that profit for the quarter ended Jan. 28 rose to $15.1 million, from $4 million in the same period last year. Revenues surged 13% to $531 million, and same-store sales rose 6%.

For the full year, the retailer reported a profit decline to $51.5 million, from $121.5 million in 2010. Annual revenues rose 8% to $1.9 billion, and same-store sales increased 7%.

MINNEAPOLIS — Target has completed its $10 billion share repurchase program.

The program, which was authorized by the retailer's board of directors in November 2007, represents the repurchase of 193.5 million shares, or nearly 23% of its outstanding shares from that time period, at an average price of $51.68 per share.

Target will continue to repurchase shares under the $5 billion program approved by its board of directors in January, which it expects to complete in the next two to three years.

DALLAS — Alliance Data Systems Corp. announced that its Canadian coalition loyalty business has signed a new multi-year agreement with Toys“R”Us, Canada to issue air miles reward miles in its 73 stores across Canada effective March 23.

The Air Miles Reward Program is Canada’s premier coalition loyalty program, with approximately two-thirds of Canadian households actively collecting reward miles.