Strategy

New York -- The cat is finally out of the bag. Former J.C. Penney CEO and Apple retail head Ron Johnson confirmed that he is launching a new company—but it’s not a tech-gadget delivery service as was widely rumored. Instead,  the new initiative, set to launch in 2015,  is designed to help online hoppers make the right product choices.  

Corte Madera, Calif. -- RH (Restoration Hardware Holdings) announced today the opening of its store, RH The Gallery, in West Hollywood, Calif.       With nearly 40,000 total interior and exterior square feet, the space features artistic abstractions and never-seen-before collections of home furnishings in a gallery setting.  

Toronto -- PayPal Canada is launching PassPort, a website designed to help small businesses sell internationally. On the PassPort website, entrepreneurs can find export market specific guidance on seasonal sales peaks including holidays and events; cultural customs, taboos and trends; shipping and distribution logistics; currency exchange and fees; and customs procedures and taxes.  

Atlanta –- Aaron’s Inc.reported that its third quarter income fell 55% to $9.3 million, from $21.1 million the same quarter the prior year, amid expenses related to store closings, corporate realignment, executive retirements, the resolution of a regulatory investigation and the purchase of Progressive Finance Holdings.    Revenues increased 32% to $707.6 million compared to $537.2 million, aided by the addition of Progressive revenue.  

Tampa, Fla. -- Northbrook, Illinois-based Pine Tree Commercial Realty, LLC announced that it has acquired South Pasadena Shopping Center, a grocery-anchored community shopping center located in South Pasadena (Tampa), Florida, for $21.1 million.    The recent acquisition is Pine Tree’s 73rd and brings the company’s current portfolio to 3.5 million sq. ft. in 15 states.  

By Bill Bishop, Brick Meets Click   Online food shopping has grown slowly until now, but it’s about to pick up speed. In fact, momentum is so strong, Brick Meets Click now projects online grocery will exceed 10% of total grocery sales in many larger markets by 2020. For some areas in the US, online grocery spending has already reached 6% or higher.  

Cincinnati -- The Kroger Co. was named Employer of the Year by the Ohio Governor's Council on People with Disabilities for significantly contributing to employment opportunities for individuals with disabilities.   Kroger was nominated for this recognition by the Warren County Board of Developmental Disabilities. The company received the award at a ceremony at the Ohio Statehouse on Oct. 16.