Strategy

Cincinnati -- The Kroger Co.’s first female corporate officer is retiring.

The Kroger Co. announced that group VP for corporate affairs Lynn Marmer plans to retire in early 2016, after 18 years with the company.

"Lynn has been a trusted counselor and advisor to three CEOs during a period of significant change in food retail," said Rodney McMullen, Kroger's chairman and CEO. We wish her and her family all the best in retirement."

Montvale, N.J. -- Benjamin Moore has opened a 90,000-sq.-ft. state-of the-art distribution space in the Landover Logistics Center in Landover, Maryland.

The new LEED-certified (Silver) center will accommodate expansion and enhance service in the fast-growing Mid-Atlantic and Southeast markets, as well as support distribution of an expanded line of Benjamin Moore & Co. latex products.

Boston – Massachusetts will have a tax holiday the weekend of Aug. 15-16, if the International Council of Shopping Centers (ICSC) has anything to say about it. The ICSC has sent a letter to Massachusetts Gov. Charlie Baker asking him to sign the sales tax holiday legislation currently on his desk.

Palm Coast, Fla. -- A transformation is underway. Branch Properties is in the midst of a $40.8 million redevelopment of the largest (and oldest) retail shopping center in Palm Coast, Florida.

Island Walk, once called Palm Harbor Shopping Center, is a 204,000-sq.-ft. center anchored by Publix Super Markets. Once completed in 2016, the upgraded retail destination will bring new and expanded tenants and amenities to the Palm Coast community in an effort to revitalize the city’s original core.  

Menlo Park, Calif. – Facebook is preparing a move from Instagram advertising to actual Instagram commerce.

In a call with investors, Facebook COO Sheryl Sandberg said that the social media giant would roll out the ability to purchase items directly from Instagram ads as part of an expansion of Instagram ad formats.

New York -- Saks Fifth Avenue is going to open a freestanding store dedicated to a hot category.

The department store retailer plans to open a shoe store in Greenwich, Connecticut, in fall 2016, Women’s Wear Daily reported.

The store, whose name has not yet been revealed, will be located close to an existing Saks Fifth Avenue store, which will no longer sell shoes.

The new format will be modeled after Saks’ in-store 10022 shoe department, according to the report.

Dallas - 7-Eleven Inc. is taking its business to Vietnam.

The company has signed a master franchise agreement with Seven System Vietnam Co. Ltd. to develop and operate 7-Eleven stores in Vietnam, with the first stores expected to open in 2017. Seven Systems plans to construct 7-Eleven stores, convert existing locations to the 7-Eleven brand supported by enhanced infrastructure, and eventually franchise operations to local businesspeople.

Atlanta – A rising cost of sales kept net income at Havertys Inc. essentially flat at about $4.83 million during the second quarter of fiscal 2015. Profit stayed even despite net sales rising 7% to $187.73 million, from $175.13 million the same period a year earlier.

Same-store sales increased 4.8%. Havertys plans to open a net total of three new stores by the end of the fiscal year.

Watsonville, Calif. – West Marine's renewed focus on omnichannel growth seems to be paying off as the specialty retailer reported a big spike in same-store sales in the second quarter.

The California-based retailer reported net income of $20.9 million, up 14% from $18.3 million the same period a year earlier.

Net revenues were $253.2 million in the second quarter ended July 4, an increase of 7.1% compared to last year. Same-store sales increased by 7%.

The company also gave an update on its growth efforts:

Houston - Baker Katz, an X Team International partner and full-service commercial real estate brokerage firm, has acquired a 4.5-acre property with plans to renovate two existing buildings totaling 33,000-sq.-ft. in Atascocita, in the Greater Houston area.

The firm plans to renovate the two buildings that were constructed in 1984 to update the architecture and attract new retail tenants. Construction is slated to begin early next year. Jim Bayne with Investar Real Estate Services represented the seller for this transaction