Strategy

MENOMONEE FALLS, Wis. — Kohl's has reached an agreement with the state of Wisconsin that will keep the retailer’s headquarters in Menomonee Falls, which is located about 20 miles northwest of Milwaukee. Kohl’s will receive up to $62.5 million in tax credits from the state over 12 years. The final amount of the tax credits is dependent on the number of employees the chain adds at its facility and the amount of money Kohl’s invests in developing its campus.

CITY OF INDUSTRY, Calif. — Teen retailer Hot Topic has named Kate Horton as VP, general merchandise manager for itsTorrid division, which retails fashion apparel, lingerie and accessories for young women who wear sizes 12 and up.

Reporting to Hot Topic Inc. chairman and CEO Lisa Harper, Horton will drive the merchandising strategy for Torrid, leading a team of merchants to develop an assortment of fashion apparel that is reflective of the brand’s position, is enticing to consumers, and drives sales and profit margins.

Springfield, Pa. -- Ulta Beauty said it will open at Springfield (Pa.) Mall in fall 2012.

The 10,328-sq.-ft. store will feature a full-service salon in addition to its customary offerings, and will join anchors Macy’s and Target along with more than 70 specialty retailers at the center.

Springfield Mall is owned by Pennsylvania Real Estate Investment Trust (PREIT) and Simon Property Group.
 

The nation’s leading arts and crafts retailer is looking for a new top executive after John Menzer resigned to focus on recovery from a stroke.

After Menzer suffered a stroke in April, Michaels created an office of the CEO comprised of Lew Klessel, interim COO and a managing director of Bain Capital, and Chuck Sonsteby, Michael’s chief administrative officer and CFO. The pair will continue to lead the company until Menzer’s successor is hired.

Teen retailer Five Below is looking to become a household name following a wildly successful public stock offering this week that could see the company expand its store base from the current 200 units to 2,000.

RIDGEFIELD PARK, N.J. — Samsung Electronics America Inc.received the highest customer satisfaction ranking in three categories in the annual J.D. Power and Associates 2012 Kitchen and Laundry Appliance StudiesSM. The company was a winner in the refrigeration category for the seventh year out of the last eight years, the dryer category for the fifth consecutive year and the washer category for the fourth consecutive year.

Katy, Texas -- Soma Intimates said it will open a new boutique at LaCenterra at Cinco Ranch, located in Katy, Texas.

The new store is slated to open July 23.

A joint venture of Houston-based Vista Equities Group and Denver-based Amstar Group, LaCenterra at Cinco Ranch is a mixed-use town center development located within the 7,600-acre master planned community of Cinco Ranch.

Phase I of LaCenterra opened March 1, 2007 with approximately 170,000 sq. ft.
 

Niles, Ohio -- Kearney, Neb.-based teen retailer The Buckle said it has opened a new location at Eastwood Mall in Niles, Ohio.

The store, the company’s 21st in the state, celebrated its grand opening on July 16.