Marketing

New York City -- Barnes & Noble's shareholders on Wednesday ratified a shareholder rights plan that prevents an outside investor from acquiring 20% or more of the company's shares without board approval. 

Preliminary results show 72% of shareholders voted in favor of the plan at a special shareholder meeting in New York. The plan limits shareholder stakes to 20%, finally making the so-called "poison pill" official.

San Francisco -- Continuing its global expansion, Gap announced a franchise agreement to introduce its namesake Gap brand in South America. The first Gap store is expected to open in Santiago, Chile, in the Parque Arauco mall, in September 2011.

Gap has signed a franchise agreement with Komax, for exclusive rights to operate Gap brand stores in Chile. Komax will purchase merchandise from Gap and must adhere to the company’s quality standards.

Seattle -- Nordstrom plans to open a  Nordstrom Rack in Orange, Calif. The 35,000-sq.-ft. store will be located at The Block at Orange and is expected to open in spring 2012.

"We are very excited to move forward with our new store at The Block at Orange," said Geevy Thomas, president of Nordstrom Rack "This is one of the area's top shopping destinations and a terrific opportunity for us to better serve our loyal OC customers."

San Francisco -- W. Howard Lester, chairman emeritus and former CEO of Willliams-Sonoma, died Nov. 15 from cancer at his home in Indian Wells, Calif. He was 75.

Lester purchased the company with a partner in 1978, when it generated $4 million in annual sales and had four stores. During his time as CEO, from 1978 to 2001, and later as chairman, Lester took Williams-Sonoma public and expanded it to 600 stores and more than $3.4 billion in sales, the company said yesterday in a statement.

Webster, Texas -- New York City-based Centro Properties Group announced that Ashley Furniture has opened a 45,000-sq.-ft. store at Baybrook Gateway, located in Webster, Texas.

Centro Properties Group is the owner of Baybrook Gateway.
 

Miami -- Beachwood, Ohio-based Developers Diversified Realty Corp. said that The Sports Authority, HomeGoods and a selection of retail shops and restaurants are opening and coming soon to The Shops at Midtown Miami, a 645,000-sq.-ft. mixed-use retail, dining and residential center.

The Sports Authority plans to open a 34,544-sq.-ft. store in 2011. HomeGoods opened a 25,351-sq.-ft. location in late fall 2010.

Tampa, Fla. -- RMC Property Group announced that it has added tenant representation to its scope of services that currently includes leasing and management, brokerage, owner and developer.

“In many ways, we have been practicing tenant representation for years, assisting our clients in backfilling empty boxes or securing new retail locations for tenants,” said Susie Rice, president of RMC Property Group.

To launch the new division, RMC Property Group has added real estate broker David Gibson.