Strategy

Amazon gave some very special visitors a tour of its top secret drone testing laboratory in Cambridge, England.  

Inland’s ad tagline says the company’s “always buying.” One of the nation’s leading drugstore chains just found out how true that is.   Inland Real Estate Acquisitions announced that it has acquired 24 CVS pharmacy properties for $116 million. The stores are located in 14 states and add up to 276,466 sq. ft. of retail space.  

It was in 1983 that Steve Lemmon and David Rubenzer brought on Ray Barton as a partner to franchise the cheap haircut concept they started on the University of Minnesota campus. They chose well. Barton’s wife Mary Lou was one of the first franchisees, and Barton himself remains chairman of the board as the company celebrates the opening of its 4,000th franchise in Flat Rock, Michigan.   “The company continues to grow with happy franchisees who open multiple salons,” said Great Clips CEO Rhoda Olsen.  

Political feelings aside, the fact remains: When Hillary Rodham Clinton was nominated as our nation’s first official female presidential candidate, history was made. It sets a tone for all going forward — women can achieve anything they have the determination to pursue, regardless of the industry.   

Arsenal Park, an often overlooked historical site in Pittsburgh, is now destined to re-emerge as Arsenal 201, a residential and retail project.   Milhous Development broke ground last week on the $100 million first phase of the project, which encompasses and entire block between 39th and 49th Streets in the city’s Lawrenceville section. That was the site of the Allegheny Arsenal, a key manufacturing and supply facility for the Union Army where an 1862 explosion took the lives of 78 workers -- the largest civilian disaster of the war.

For retail tenants and landlords alike, use and exclusive use clauses, which refer to the terms written into a lease that dictates what is and is not permitted by both parties, are a critically important part of the tenant-landlord relationship and lease negotiation process. It is also a potentially contentious subject that will not only affect a retailer’s operational specifics, but can have a profound impact on the bottom line.   

As the loyalty landscape heats up, TJX Companies is renewing its existing program to remain competitive.   The off-price retailer announced a multi-year renewal of its partnership with Synchrony, a move that will continue to support financing for its five-year-old Rewards Credit Card program.   

Macy’s is not joining the ranks of retailers and mall operators who plan to close their doors on Turkey Day.     That’s according to BestBlackFriday.com, which tracks retailers' holiday hours and promotions. The research company said it received confirmation from five U.S. shopping centers that their Macy's locations would open at 5 p.m. Thursday.     

New York investment management firm Alden Global Capital is not happy with the board — or the CEO — of Pier I Imports.     Alden, the retailer’s largest active institutional investor, is demanding a shakeup of the Pier 1 board, reported the Dallas Business Journal.    

Supervalu has found a buyer for its discount grocery business, Save-A-Lot.   Supervalu agreed to sell Save-A-Lot to Onex Corporation, a Toronto-based private equity firm, for $1.365 billion in cash. As part of the agreement, Supervalu will provide professional services to Save-A-Lot for five years.     The sale is expected to be completed by January 31, 2017, subject to regulatory approvals and other customary closing conditions.