Strategy

Phoenix -- Cole Real Estate Investments announced the formation of a joint venture with RED Development to focus on future acquisition opportunities, recapitalizations and note purchases in the retail real estate sector. 

Fort Worth, Texas -- Dallas-based Cypress Equities said that its West 7th mixed-use development in Fort Worth, Texas, has signed specialty women’s fashion retailer Peruvian Atelier for a 2,357-sq.-ft. shop slated to open in late 2011.

The new store will be located between Flirt Boutique and the soon-to-open Keena’s.

New York — British apparel retailer Jack Wills is looking to nearly double its store count in the United States, according to various reports in the U.K. media.

The company, which specializes in preppy clothing for young men and women, currently operates 11 U.S. locations and has plans to add eight to 10 stores next year. It made its U.S. debut in 2010, in Massachusetts.

Indianapolis — The Finish Line, Inc. said Tuesday it has named Sally McKelvey as VP strategy for the Finish Line brand.

McKelvey previously served as senior director, operations financial planning and analysis, at 7-Eleven.

McKelvey is charged with leading the evaluation, development and implementation of strategic growth initiatives for the Finish Line brand. She will analyze, recommend and implement programs that will provide growth opportunities, increase operational productivity and enhance profitability for the company.

EDEN PRAIRIE, Minn. — Supervalu announced that it has committed $1 million to sponsor 1,542 youth sports teams in markets where its Acme, Albertsons, Cub Foods, Farm Fresh, Jewel-Osco and Shaws/Star Market stores operate. 

Berlin, N.J. — The 134-store arts and crafts chain A.C. Moore said Tuesday it has agreed to be acquired by an affiliate of arts and crafts distributor Sbar’s Inc. for about $40.8 million.

Last January, the company said it had formed a committee to review strategic alternatives, including a potential sale.

The revelation this week that Target chief marketing officer Michael Francis had jumped ship to become president at JCPenney was a surprising development that sucked some of the oxygen out of the retailer’s Minneapolis headquarters. Target is all about marketing and Francis was instrumental in shaping some of the most interesting customer communications the marketing world saw during the past decade. He was so highly thought of that earlier this year he was tapped to lead Target’s entry into Canada, arguably the company’s most significant longer term growth driver.

Atlanta -- First Data Corp. and Associated Bank said Tuesday that the companies have signed a long-term merchant services renewal agreement.

Through the agreement, First Data will continue to provide merchant processing services to the bank’s business clients nationwide, providing them access to a comprehensive line of electronic payment solutions, including acceptance of all major credit cards including PIN and signature-based debit cards, gift cards, customized reporting and electronic check verification services.