Strategy

New Canaan, Conn. - Stadium Capital Management LLC and its affiliates have notified Big 5 Sporting Goods Corp. that Stadium Capital will nominate three independent candidates to the board of directors of Big 5 at the 2015 annual meeting, expected to be held in June 2015. The nominees are Dominic P. DeMarco, a managing director and co-chief investment officer of SCM and an existing member of the board; Nicholas Donatiello Jr., a consumer, media and technology strategist; and Michael J.

Santa Monica, Calif. – Macerich Co., a California-based mall operator whose properties include Tysons Corner Center in Tysons Corner, Virginia, has rejected a hostile $22 billion takeover bid from Simon Property Group Inc. Macerich has publicly stated it thinks the deal undervalues its portfolio and growth opportunities.

"It is truly disappointing Macerich would not even meet to discuss our proposal," said Simon Property CEO David Simon. "Macerich's rejection is based on a rosy view of its future prospects."

Burlington, N.J. – Burlington Stores Inc. beat Wall Street expectations for earnings and sales in a strong fourth quarter of fiscal 2014. Reductions in store payroll and advertising helped drive a net income increase of 49% to $94.86 million, from $63.58 million.

Burlington Stores plans to open 25 net new stores in fiscal 2015.

Total revenue grew 10% to $1.5 billion from $1.34 billion. Same-store sales rose 6.7%

JCPenney has lost its chief marketing officer at a time when the company has been trying to rebuild its brand image.

Chicago - West Marine will open a new 20,000-sq.-ft. flagship Midwest store on North Halsted Street in Chicago on April 23. The new Chicago store is located just off the North Branch Canal of the Chicago River that wraps around Goose Island.

Buoyed by impressive fourth quarter sales, Burlington Stores Inc. is accelerating its expansion strategy, with plans to open 25 new stores in 2015 and a long-term goal of 1,000 stores coast-to-coast.

The off-price retailer reported that total revenue for the fourth quarter ended Jan. 31 grew 10% to $1.5 billion from $1.34 billion. Same-store sales rose 6.7%.

Atlanta - Arby's Restaurant Group Inc. (ARG) is promoting John Bowie, senior VP of operations, to COO, reporting to Paul Brown, CEO. The promotion was announced as George Condos, ARG president and COO, announced his retirement.  

Bowie will assume responsibilities as COO on March 30, at which point Condos will continue on through the end of the year as a consultant for Arby's.

PetSmart is hoping to lure more Martha Stewart fans to its stores with a new line of natural, Made-in-the-USA pet products.

The retailer already sells Martha Stewart pet products, but it is now launching the Martha Stewart Pets Treat Shop, a line of oven-baked natural dog treats sold only at PetSmart.