Strategy

McLean, Va. -- One Loudoun Holdings, a joint venture of Miller and Smith and North America Sekisui House, and its retail development partner, Potomac Development Group, announced that Alamo Drafthouse Cinema will open a new location at One Loudoun in Loudoun County, Va.

The 34,000-sq.-ft. Alamo Drafthouse Cinema will be the first in the
Washington, D.C., market area. Construction will commence in spring 2012 with a projected opening in spring 2013.

Oak Brook, Ill. -- McDonald’s Corp. reported Tuesday that consolidated revenues for fiscal 2011 rose 12% to a record-high $27 billion. The restaurant chain also said that global same-store sales increased 5.6% for the year ended Dec. 31, with positive comps across all geographic segments for every quarter.

"During 2011, McDonald's continued momentum drove higher profitability and market share gains as we fortified our leadership position around the world," said McDonald's CEO Jim Skinner.

Dallas -- Tuesday Morning Corp. reported Monday that net income for the quarter ended Dec. 31 fell 8% to $15.9 million.

Revenue for the quarter dipped 2.2% to $273.1 million.

Investors were prepared for the news because the company previously reported the lower revenue figures earlier this month.
 

Minneapolis -- Target Corp. announced Tuesday it has promoted current senior VP-finance John Mulligan to executive VP and CFO, effective April 1.

The announcement concludes a comprehensive search which included both internal and external candidates, said Target.

Mulligan succeeds Doug Scovanner, who announced his retirement last November.

A 16-year Target veteran, Mulligan has held leadership positions in finance, target.com and human resources.

Menomonee Falls, Wis. -- Kohl’s Department Stores said Tuesday it will build a new e-commerce distribution center in DeSoto, Texas, outside Dallas.

The 951,000-sq.-ft. DC, which is slated to open in summer 2012, will fulfill Kohls.com purchases. Kohl’s said it will close on the agreement once the building process is complete.

Beachwood, Ohio -- Shopping center developer DDR Corp. said Monday that Anna's Linens will open three of its first Puerto Rico stores at DDR shopping centers.

These new locations represent the most recent example of DDR's efforts to strategically reduce and reconfigure small shop space at attractive market rents with high-quality tenants.

York, Pa. -- The Bon-Ton Stores said Tuesday it has appointed Brendan L. Hoffman as president and CEO, effective Feb. 7.

Hoffman replaces Bud Bergren, who is a current member of the board of directors and who will transition to the role of the chairman.

New York City -- A New York state Supreme Court filing on Monday disclosed that Macy’s Inc. is suing Martha Stewart Living Omnimedia Inc. for breach of contract after Martha Stewart set up a new deal last December with J.C. Penney to sell products at its stores.

According to Macy's, Martha Stewart Living granted it product exclusivity under a 2006 agreement. J.C. Penney, which acquired a 16.6% stake in the company in December, plans to open Martha Stewart Living in-store shops, beginning in 2013, which violates that exclusivity, said Macy’s.

SAN FRANCISCO — Williams-Sonoma has announced that Mary Ann Casati and Lorraine Twohill have been elected to its board of directors.

“We are excited to have Mary Ann and Lorraine join our board,” said Adrian Bellamy, chairman of the board of directors of Williams-Sonoma Inc. “These two individuals each bring a unique perspective and expertise that we believe will help shape the success of our company.”

INDIANAPOLIS — Jerry Throgmartin, executive chairman and former CEO of Hhgregg has passed away, Dennis May, president and CEO of the company announced Monday.