Strategy

TOPEKA, Kan. — Payless announced that it is supporting breast cancer awareness with the sale of a special earring set. Sales from the earrings, which cost $2 and are available in stores and online, will go toward helping Susan G. Komen for the Cure, the world's largest breast cancer organization and the largest source of non-profit funds dedicated to the fight against breast cancer.  

Matthews, N.C. -- Family Dollar Stores said Tuesday that it has named longtime CVS/pharmacy executive Mike Bloom as its new president and COO to replace the departing R. James Kelly, who announced his retirement on Tuesday after 15 years with the company. Kelly will serve as vice chairman for the next six months to assist with the transition.

Bloom, formerly executive VP – merchandising, supply chain, marketing and advertising for CVS Caremark, will assume the position of president/COO.

New York City -- A Bloomberg report on Tuesday said that Borders Group has garnered court approval for the sale of its intellectual property to Barnes & Noble after a recent question about privacy issues was resolved.

U.S. Bankruptcy Judge Martin Glenn in Manhattan approved the transaction after reviewing new terms between Borders and Barnes & Noble that will protect the privacy rights of 48 million customers.

Minneapolis -- Best Buy Co. said Tuesday that it has cut its 2011 seasonal hiring plans to about half of last year’s staff numbers, in a move to curtail costs. This year’s plans call for 15,000 holiday workers, compared with 29,000 hired last year.

Rock Hill, S.C. -- The developers of Rock Hill Galleria, in Rock Hill, S.C., said Tuesday that the 470,000-sq.-ft. regional mall will initiate a comprehensive renovation and expansion of mall anchor J.C. Penney.

Construction will begin soon and is scheduled for completion in fall 2012.

Brooklyn, N.Y. -- Williams Sonoma-owned home-furnishings retailer West Elm said Tuesday that it will make its Washington State debut with a new store in Seattle, slated to open Oct. 6.

The 15,000-sq.-ft. store will feature a number of unique design details, according to West Elm, including a living wall and an art installation designed specifically for the location.

Like other West Elm stores, the Seattle location is designed using green materials and includes low-energy lighting, low-VOC paints and reclaimed hardwood floors.
 

Los Angeles -- A Tuesday report by CNN Money, citing a regulatory filing, said that private equity firm Leonard Green & Partners is raising $5 billion for its sixth private equity fund.

Leonard Green’s current retail portfolio includes Sports Authority, Neiman Marcus and Whole Foods, with plans underway to add BJ's Wholesale Club to its holdings.

According to the report, the SEC filing does not confirm that the firm has closed on any money as of yet.
 

Framingham, Mass. -- Staples said Tuesday it is promoting Christine Komola to CFO, effective Feb. 1.

Komola, a 14-year veteran of the company, will report to the company's vice chairman, John Mahoney, who has been CFO since 1996.

She has served as VP planning and control, senior VP and corporate controller and CFO of the company's website.
 

Covington, La. -- Stirling Properties said Monday that River Chase Shopping Center Phase Two, which broke ground in August, has added eight new national tenants that will bring 85,000 sq. ft. of retail space to River Chase as part of an expansion to the development’s existing shopping center. All stores are expected to open spring 2012.

Dallas -- Cypress Equities said Tuesday that Dallas mixed-use development Village on the Green will showcase a new fine dining restaurant Aquadora.

The 6,052-sq.-ft. restaurant is slated to open before the end of the year in the space formerly occupied by GoFish.

The restaurant owners, LIG Entertainment Management, have remodeled the former GoFish dining area and extended the lounge.