Marketing

RH's innovative growth initiatives are starting to bear fruit, as the home furnishings retailer reported record sales and profits in the third quarter.

Former Target CMO Michael Francis will reportedly serve as a marketing consultant at Walmart when the retailer’s current CMO steps down.

The Wall Street Journal reported that Stephen Quinn will retire as executive VP and CMO in January after spending nearly a decade at the Walmart. Francis, who spent 27 years with Target, is expected to join Walmart to initiate a broad marketing revamp and work closely with Quinn’s successor, The Journal said, citing a person it said was familiar with the situation.

The 127-year old family owned Belk department store chain is family owned no more, although one of the founder’s descendants remains in place as CEO.

The private equity firm Sycamore Partners completed its previously announced acquisition of the 296 unit Belk chain on Dec. 10, thus beginning a new chapter for what had been the nation’s oldest privately held department store retailer.

Kroger is adding a veteran of the consumer products industry to its board of directors.

Vera Bradley is adding some deep e-commerce experience from Best Buy to its board of directors.

Kelley has e-commerce, marketing, and strategic planning experience and has served as president, e-commerce for Best Buy since 2014. Prior to joining Best Buy, Kelley served as senior VP, e-commerce for Chico's FAS and held the posts of VP of retail real estate and marketing and VP of e-commerce for L.L. Bean.

Virginia, Beach, Va. -- Wheeler Real Estate Investment Trust announced it has appointed John McAuliffe to the company's board of directors, effective Dec. 2. McAuliffe returns to the company's board of directors after having previously served from November 2012 until April 2013. McAuliffe has over 36 years' experience in the financial services industry. In April 2013, he resigned from the company's board of directors to focus his efforts on investment banking with Newbridge Securities Corporation.

Chattanooga, Tenn. -- CBL & Associates Properties announced that it has completed the sale of Mayfaire Community Center for $56.3 million to Principal Real Estate Investors.

Mayfaire Community Center is the 210,000-sq.-ft. center located in Wilmington, North Carolina, which CBL acquired in June of 2015. CBL will be providing leasing and management services for the new owners.

Lyndhurst, N.J. -- Ripco Real Estate Corp. announced David Townes has joined its New Jersey office sales team. Prior to joining Ripco Townes worked at Welco Realty for five years where he represented a combination of landlords and retail tenants. One of his many strengths and areas of expertise includes assisting retailers looking to expand in the New Jersey and Rockland County, New York areas.

Specialty retailer Francesca’s says its third-quarter sales show initiatives such as reducing inventories and enhancing assortments are producing results ahead of a new growth strategy for the company.

For the third quarter ended Oct. 31, the company posted a net income of $6.95 million, down 4.4% from a year earlier, and earnings of 16 cents per diluted share, down 1 cent from the third quarter of 2014. Net sales were up 19% from one year ago, to $103.7 million. Same-store sales rose 4%.

Sam Edelman has opened a 2,500-sq.-ft. store at The Forum Shops at Caesars Palace in Las Vegas. Designed by Dagnell Folger of Architecture + Information, the store stays true to the Sam Edelman aesthetic with a mix of materials that includes reclaimed wood and raw concrete with rose-colored brass and black leather.

Hints of the brand’s signature shade of green provide a pop of color. Vintage furniture pieces — curated by Sam Edelman himself — are mixed throughout for a personal touch.