Strategy

INDIANAPOLIS -- Mall owner Simon Property Group announced Tuesday that it has completed its first installation of an electric vehicle charging station at one of its shopping centers.

The initial installation has been completed at Simon's Florida Mall in Orlando and will be complete at Stanford Shopping Center in Palo Alto, Calif., later in April.

NEW YORK -- A good reputation -- whether warranted or not -- can do a lot for a company's bottom line. So those companies that found themselves at the top of Forbes' most reputable companies list have much to celebrate.

Arlington, Va. -- The Retail Industry Leaders Association (RILA) and CargoNet jointly announced that they have strategically aligned to combat cargo theft across the retail industry.

According to the 2010 United States Cargo Theft Report issued by CargoNet, reported incidences of cargo theft increased by 50% compared with 2009. According to the FBI, cargo theft is a multi-billion dollar industry in the United States.

New York City -- Macy's CEO Terry Lundgren’s compensation package dipped 8% in 2010 to nearly $11.8 million, according to an analysis by The Associated Press.

Lundgren received a salary of $1.5 million in 2010, the same as the year before. The stock awards he received were valued at $3.6 million when they were granted, about a 50% rise over what he received the year before, according to a Securities and Exchange Commission filing.

With its outdoor underpinnings and Swiss accents, Wenger, in Boulder, Col., is the perfect showcase for the legendary 116-year-old company, which is best known as the maker of the “genuine” Swiss Army Knife. The 3,000-sq.-ft. store, which took top honors in the Association for Retail Environments’ 2011 design awards, is the firm’s first freestanding store in the United States.

Menomonee Falls, Wis. -- Kohl’s Department Stores said Tuesday it has completed the transfer of its private-label credit-card portfolio to Capital One Financial Corp., effective April 1.

Capital One has acquired the more than 20 million existing Kohl’s Charge accounts and through the seven-year agreement will offer private-label credit cards to new and existing Kohl’s customers. According to the department store retailer, the credit-card business accounted for more than 50% of Kohl’s sales in 2010.

Columbus, Ohio -- DSW announced Tuesday that it has named Roger Rawlins senior VP and general manager of DSW.com, and has named Jennie Wilson to the position of senior VP of finance and controller of the company.

According to the shoe retailer, both appointments are designed to support long-term strategic growth initiatives for the company.

Deerfield, Ill. -- Walgreens said Tuesday that sales for the month of March rose 7.6% to $6.28 billion, compared with $5.83 billion in the year-ago period.

Duane Reade stores, acquired in April 2010, contributed 2.8% to the total sales increase for the month.

Same-store sales rose 3% in March, not including Duane Reade stores. Results topped Wall Street expectations.

Walgreens opened 12 stores during March, including three relocations, acquired one store and closed two.

New York City -- Blockbuster's bankruptcy auction is set to stretch into a second day on Tuesday after preliminary talks between bidders and the chain's representatives dragged on late into Monday, a company spokesman said.

Blockbuster did not say how many bidders it attracted, but halls outside the auction room in Manhattan bankruptcy court were packed with attorneys and investment bankers refining their bids throughout Monday, Reuters reported.

Dallas -- The Retail Connection, L.P., Lincoln Property Company Commercial and the Fidelity Real Estate Group announced Friday that they have acquired Village on the Parkway, a 380,000-sq.-ft. lifestyle center located in the Addison area of the Dallas Fort Worth Metroplex.

The center was sold by J.E. Robert Co. after the default by its previous owner.