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Strategy

  • Pantry CEO steps down

    Cary, N.C. -- The Pantry said Monday that CEO Terrance M. Marks plans to resign within two months.

    In a statement, Marks said that his decision was driven by personal reasons, and that he had accepted "an opportunity that will enable me to return to my home and family in Atlanta."

  • Regency Centers acquires center in Davis, Calif.

    Davis, Calif. -- Regency Centers, a national owner, operator and developer of grocery-anchored and community shopping centers, closed on the acquisition of Oak Shade Town Center, a 103,762-sq.-ft. neighborhood shopping center anchored by Safeway, Rite Aid and OfficeMax in Davis, Calif. The center is located within a mile of the University of California, Davis.

    The property was purchased on August 18 for $35 million from the center’s original owner. 

     

  • Macy’s executive moving to CVS

    New York City -- CVS Caremark announced that Mark Cosby has been appointed president of CVS/pharmacy, effective Oct. 1. He formerly served as president of stores for Macy’s.

    “We’re delighted that Mark is joining our team,” Larry Merlo, CEO of CVS Caremark (NYSE: CVS) said in a news release. “His valuable experience at major retailers in operations and strategic planning makes him an excellent choice to lead our retail business going forward.”

  • Gap's profits drop 19% in Q2

    San Francisco -- Gap reported Thursday that profit for the quarter ended July 30 dropped 19% to $189 million, compared with $234 million in the year-ago period.

    The retailer, which operates the Gap, Old Navy and Banana Republic banners, cited aggressive merchandise pricing reductions for the profit decline. Results beat analysts’ earnings expectations, but the declines still raised concerns about Gap’s performance in the upcoming fall and holiday shopping seasons.

  • Hhgregg to open 14 Chicagoland stores on Sept. 15

    Indianapolis -- Electronics and appliances retailer Hhgregg said Friday it will open 14 new stores in the Chicago area on Sept. 15.

    Chicago is a new market for Hhgregg, and with the opening of 14 new stores, it will become the company’s largest market.
     

  • Walgreens officially kicks off Nice! launch

    DEERFIELD, Ill. — Walgreens on Thursday officially unveiled its new store brand, Nice!

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