Strategy

Boca Raton, Fla. -- Office Depot Inc. will open 13 newly remodeled locations in the Houston area on March 28.

The updates stores feature more colorful signage and easy-to-navigate floor plans. The stores were redesigned based on customer feedback and shopping patterns.

Office Depot operates 1,677 stores in 60 countries, 46 of which are located in the Houston area.

Columbus, Ohio -- The Limited on Friday will open a 4,300-sq.-ft. store in Westfield Galleria Mall, Roseville, Calif., one of four new locations the chain will open this year in California. The women’s apparel retailer is also completely remodeling a fifth, representing 21,000 gross sq. ft. of new retail space in the Golden State.

New Orleans -- Covington, La.-based Stirling Properties announced that urban shopping center development Mid-City Market has broken ground in New Orleans, along the North Carrollton Avenue commercial corridor.
 
Opening in early 2013, Mid-City Market will complement the proposed Lafitte Greenway pedestrian and bicycle pathway that will border the shopping center.  

CINCINNATI — Paul Varga, chairman and CEO of Brown-Forman Corp., has been elected to the Macys Inc. board of directors.

Surging gas prices this spring could jeopardize Walmart’s tenuous same-store sales recovery as consumers have less disposable income and opt to shop at outlets closer to home. At least that was how the situation played out in the recent past when gas prices surged above $4. Are things different now?

Philadelphia -- The trustees of Pennsylvania Real Estate Investment Trust (“PREIT”) announced that Joseph F. Coradino will become CEO of the company as of the company’s annual meeting on June 7, succeeding Ronald Rubin, who will serve as executive chairman.

Coradino has been with PREIT and a predecessor company for three decades, serving since 2004 as president of PREIT Services, LLC and PREIT-Rubin, Inc., and as a member of the office of the chairman. He has been a trustee of PREIT since 2006.

Danville, Va. -- Augusta, Ga.-based Hull Storey Gibson Cos. announced Wednesday that it has acquired Piedmont Mall in Danville, Va., the 18th enclosed mall in the company’s portfolio. 

The 731,500-sq.-ft. Piedmont Mall is slated for full renovation, including an upgrade of the interior and exterior lighting, entrances, signage, painting and flooring.

NEW YORK — Fortune has released its 2012 list of the most admired companies, and it should come as no surprise that Apple topped the list. Even with the passing of Steve Jobs, the company didn't miss a beat delivering products that are still in high demand, increasing sales and delivering soaring profits for its investors.

Also on the list were a number of retailers including third-ranked Amazon.com, 20th-ranked Costco Wholesale, 24th-ranked Wal-Mart Stores, 25th-ranked Target, 28th-ranked Whole Foods Market and 41st ranked eBay.