Strategy

In his newest column, Retail Rap with Jeff Green, Chain Store Age columnist Green examines the early uptick in medical users in retail centers and questions why the trend has apparently stalled.

Click here to read his latest editorial. 

Houston -- Greensboro, N.C.-based Tanger Factory Outlet Centers and Indianapolis-based Simon Property Group announced Thursday that they have entered into a 50/50 joint venture agreement to develop a Tanger Outlet Center south of Houston, in Texas City.

Phase I is slated for 350,000 sq. ft. of brand name and designer outlet stores; the 55-acre site is expected to accommodate future expansion of about 120,000 sq. ft.

Tenant announcements and ground breaking ceremonies are slated for July; the center is scheduled to open in summer 2012.

Bentonville, Ark. -- Wal-Mart Stores announced Friday that its U.K.-based Asda unit has promoted Judity McKenna to the position of COO.

McKenna is currently Asda’s finance director.

Ann Arbor, Mich. -- Borders Group announced Thursday that it has agreed to sell itself to Najafi Cos. for $215 million. The deal is subject to court approval.

Najafi Cos. is a Phoenix-based private investment company which owns the Book-of-the-Month Club.

The "stalking horse" bid will open an auction for the company and its assets, so a higher bid is possible, according to reports.

SAN FRANCISCO — Gap Inc. announced that it plans to open its first Gap store in Egypt this July and its first Gap and Banana Republic stores in Morocco this October. These store openings will mark the company’s first entry into Africa.

As part of an existing franchise agreement with The Fawaz Al Hokair Group, Gap will open its first Egyptian store in the Mall of Arabia in the capital city of Cairo. Two additional Gap stores will open at Cairo’s City Stars Mall and Sun City Mall this October.

NORTHFIELD, Ill. — Kraft Foods announced that Daniel Myers will join the company in September as EVP supply chain.  Myers will lead the functional groups that make up the company's integrated supply chain, including procurement, manufacturing, engineering and customer service and logistics.  He succeeds David Brearton, who is now EVP and CFO.  Myers will report to chairman and CEO Irene Rosenfeld and be a member of the company's executive team.

MINNEAPOLIS — Supervalu announced that Matt Rubel will stay on as a member of its board of directors, despite his retirement from Collective Brands.

Rubel retired as chairman, president and CEO of Collective Brands earlier this month. Per Supervalu's governance principles, he submitted his offer of resignation as a member of the board of directors. On June 28, the company’s Board of Directors unanimously rejected his offer of resignation.

Family Dollar disappointed its investors this week with a third-quarter earning report in which gross margin pressures caused the company to report earnings per share of 91 cents that were four cents shy of analysts’ consensus estimates. The operator of 6,900 stores also said its 4.7% same-store sales increase was short of guidance of 5% to 7% and then used the occasion to lower fourth-quarter sales and earnings forecasts.

AMSTERDAM — Ahold has tapped retail veteran James McCann to serve in the newly created role of chief commercial development officer.

Former and short-time Walmart executive Robert Atencio is among a group of marketers slated to interview former P&G chairman and CEO A.G. Lafley during an event called Shopper Insights in Action. The 11th annual event is billed as a riveting brainstorming session in which the former P&G head will share thoughts on the future of research, marketing, retail and the evolution of the changing consumer. Atencio, who formerly served as VP insights and customer strategy at Walmart, is currently VP global insights at Pfizer Consumer Healthcare.