Strategy

Voorhees, N.J. -- Philadelphia-based Pennsylvania Real Estate Investment Trust announced Monday that Voorhees Town Hall has opened at the mixed-use Voorhees Town Center, located in Voorhees, N.J.

On Monday, more than 50 Voorhees Township employees moved in to the new municipal office, which is located on the upper level of the mall across from Macy’s and also features a street-level entrance.

Dallas -- Lucernex Technologies said Tuesday that Jack in the Box has implemented Lucernex’s store lifecycle management solution to manage its real estate portfolio, which includes more than 2,200 Jack in the Box restaurants across 19 states.

According to Lucernex, by implementing the retail version of the Lx Retail product suite, Jack in the Box can streamline its process of selecting store sites, building and opening new store locations, as well as managing existing locations to avoid time delays and save costs.

COLUMBUS, Ohio — DSW has named Todd Cordell as SVP human resources.  Cordell will be responsible for all human resources activities in support of DSW Stores, DSW.com, and the DSW leased business division.  

"Todd brings a wealth of experience and expertise in all areas of the Human Resources function, most particularly Organizational Development," said Michael MacDonald, CEO of DSW Inc.  "I am confident Todd will help DSW attract, develop and retain top talent in support of our key strategic growth initiatives."

Atlanta -- Home Depot reported Tuesday that profit rose 12% in the first quarter, beating Wall Street estimates and causing the retailer to boost its outlook for the full year.

Home Depot earned $812 million in the quarter ended May 1, compared with $725 million in the year-ago period.

Revenue, however, slipped 0.2% to $16.82 billion on a weaker spring selling season, missing analysts’ expectations of $17.06 billion.

Same-store sales dipped 0.6%, with U.S. stores down 0.7%.

Wallingford, Conn. -- Edible Arrangements announced on Tuesday aggressive expansion plans, with the goal of opening 150 new locations in 2011, and 200 additional locations in 2012.

During the next several weeks, 19 stores are scheduled to open in 10 states and two Canadian Provinces.

Additionally, two international locations are expected to open soon in Saudi Arabia and another in Oman. Currently, Edible Arrangements has over 934 open locations, including in 10 countries outside the United States and Puerto Rico.

Framingham, Mass. -- TJX Cos. reported Tuesday that net income for the first quarter plummeted 20% on the closing of its A.J. Wright stores, but strong sales buoyed the retailer’s full-year forecasts.

TJX earned $266 million in the quarter ended April 30, compared with $331.4 million in the year-ago period. Revenue increased 4% to $5.22 billion, surpassing Wall Street's estimate of $5.14 billion.

Same-store sales increased 2%.

TJX raised the low end of forecast for full-year adjusted earnings.
 

Columbus, Ohio -- DSW announced Tuesday that it has Todd S. Cordell as senior VP human resources, effectively immediately.

Cordell will be responsible for all HR activities in support of DSW Stores, DSW.com, and the DSW Leased Business Division. 

Cordell was previously VP human resources for Starbucks Coffee Co.

Philadelphia -- Urban Outfitters reported Monday that profit for the first quarter declined more than expected, posting net income of $39 million compared with $53 million a year earlier.

However, revenue topped Wall Street's estimates, as the operator of Urban Outfitters, Anthropologie, Free People and Terrain banners saw sales rise 9% to $524 million. Same-store sales fell 5%. But direct-to-consumer (catalogs and online) same-store sales increased 15%.