Strategy

Richmond, Va. -- McLean, Va.-based The Rappaport Cos. announced that Sonic has leased a three-fourth-acre pad site at Chesterfield Marketplace in Richmond, Va.

The new restaurant will be located in the former Pizza Hut building, near the shopping center entrance.

Chesterfield Marketplace is a 400,000-sq.-ft. shopping center featuring a tenant mix that includes The Home Depot, PetSmart, Staples and Ruby Tuesday.

Boca Raton, Fla. -- West Palm Beach, Fla.-based American Commercial Realty Corp. said it has completed several new leases at the Shoppes at Boca Greens in Boca Raton, Fla.

Cosmetics and beauty retailer Harmon Face Values, a division of Bed Bath & Beyond, will open a new, 7,400-sq.-ft. store, the retailer’s first full store in Florida.

Children’s clothing retailer Denny’s Children’s Wear will relocate and expand to an 8,600-sq.-ft. location within the center.

Paducah, Ky. -- Youngstown, Ohio-based Cafaro Co. announced that Charming Charlie will open a new fashion accessories store at Kentucky Oaks Mall, in Paducah, Ky.

The Houston-based retailer will open a 7,000-sq.-ft. store in late spring 2011. This will be the second Charming Charlie store in Kentucky, the first being located in the Lexington area.

New York City -- Supermarket veteran Mike Gilliland, the founder, chairman and CEO of Sunflower Farmers Markets, was arrested after being charged in an undercover child-prostitution sting and has resigned, according to reports. Gilliland also was a founder of Wild Oats Market.

Chris Sherrell was named acting CEO following Gilliland’s resignation on Saturday, Sunflower Farmers Market said on its website. Gilliland also quit his post on the Phoenix-based Sunflower’s company's board of directors.’

New York City -- Abercrombie & Fitch’s flagship store on Fifth Avenue in New York City will be temporarily closed after a two-alarm fire last night damaged the building.

More than 25 units and 125 firefighters responded to the blaze, which began about 11 p.m. local time last night.

New York City -- South Africa’s competition watchdog has recommended that Wal-Mart Stores’ proposed takeover of the country’s retail chain Massmart be unconditionally approved without conditions.

Wal-Mart made a $2.4 billion bid for Massmart in November, and a vast majority of the target company’s shareholders voted to approve the deal last month.

The deal now needs final approval from South Africa’s competition tribunal. A date for the hearing and subsequent ruling has yet to be set.

By Akhilesh Srivastava, [email protected]
According to NRF Retail Horizons Benchmark Report, two key initiatives to keep retailers competitive in 2010 were optimization and streamlining of their internal operations to reduce operating costs and improving their customer centricity to win the share of wallet.

SECAUCUS, N.J. -- The Children's Place Retail Stores announced that Susan Riley, EVP finance and administration, is leaving the company. The company said it will eliminate the position of EVP finance and administration and has begun a search for a CFO.

John Taylor, VP finance, will assume the position of interim principal financial dfficer and Bernard McCracken, VP controller, will assume the position of interim principal accounting officer.

SANTA MONICA, Calif., VANCOUVER, British Columbia and PARIS --Lionsgate, Studiocanal and Miramax announced that they have entered into a worldwide home entertainment distribution deal. Under the long-term deal, Lionsgate and Studiocanal will distribute more than 550 titles from the Miramax film library via DVD, Blu-ray, EST and Internet Video On Demand (VOD), in addition to cable VOD internationally, the companies reported.

WAYNE, N.J. -- Toys“R”Us has announced the launch of the first-ever collection of wood vehicles, track and playsets based on the popular Disney-Pixar movie, Cars, availableexclusively at Toys“R”Us stores around the world and online at Toysrus.com. The collection was created and designed by Toys“R”Us in collaboration with Disney Consumer Products.