Strategy

Toronto -- Slate Retail REIT announced that it has entered into a binding agreement to purchase two grocery-anchored shopping centers.

Oakland Commons, a 73,705-sq.-ft. property in Bloomington, Illinois, will be acquired for $8.2 million ($111 per square foot). The 100% occupied property is anchored by Jewel-Osco, a subsidiary of Albertsons LLC.

Costco reported a rise in sales and same-store sales for the fourth quarter.

Net sales for the quarter were $34.75 billion, an increase of 9% from $31.77 billion in fiscal 2013. Same-store sales for the total company increased 6%, while U.S. same-store sales also rose 6%.

Net income for the quarter was $697 million, or $1.58 per diluted share, compared with $617 million, or $1.40 per diluted share, in the year-ago period.

Coty has submitted a binding offer to acquire the Bourjois cosmetics brand from Chanel for 15 million Class A Coty shares. Chanel has agreed to enter into exclusive negotiations.

Bourjois’ portfolio of color cosmetic products are sold through approximately 23,000 points of sale in more than 50 countries around the world. Bourjois was founded in 1863, by French actor Joseph-Albert Ponsin, who developed a line of color cosmetics for his fellow actors.

Dublin, California -- Ross Dress for Less will open a new store in the Ridgewood Court Shopping Center, in the capital city of Jackson, Mississippi, on Oct. 11. It is the retailer’s second location in the greater Jackson area.

This new opening is part of the retailer’s 2014 expansion program, totaling approximately 75 new locations during the year.  

Together, Ross Dress for Less and dd’s Discounts currently operate over 1,300 off-price apparel and home fashion stores in 33 states, the District of Columbia and Guam.

San Francisco -- Gap Inc. announced that its chairman and CEO, Glen Murphy, will step down, effective February 1, 2015. He will be succeeded by Art Peck, the president of the company’s growth, innovation and digital division.

Murphy and Peck have worked side-by-side for the better part of a decade as Gap dramatically improved its financial performance while expanding globally, the company said.

Leading payment technology and services company First Data has launched First Data Salutes, a company-wide military engagement strategy aimed at helping the veteran-owned business community and service members and their families who are making the transition to civilian careers.

Aliso Viejo, Calif. - Johnny Rockets has reached its first agreement to distribute private label menu items for home consumption. Blackwood Industries, Inc., based in Orlando, Florida, has been selected to distribute branded hamburger patties and other related products via retail, as of Oct. 1, 2015.  

This comes on the heels of a recent Johnny Rockets announcement to launch Johnny Rockets Route 66 and Johnny Rockets Express restaurant banners.

Wolverine Worldwide has appointed Melissa A. Howell SVP of global human resources. Howell will report directly to chairman, CEO and president Blake Krueger.

Howell has more than 24 years of experience in human resource management with General Motors, one of the world's largest automobile companies, with more than 200,000 employees in more than 150 countries. Howell most recently served as SVP of global human resources and also held numerous other human resource leadership roles during her time with the company.