Strategy

New York City -- Walmart Canada, a unit of Wal-Mart Stores, announced that it plans to open 40 additional supercenters in its upcoming fiscal year (which runs from Feb.1, 2011 to January 31, 2012). The company is investing approximately $500 million in the project, which also includes expanding, remodeling and relocating existing stores.

Although Walmart Canada did not disclose exact locations, it did reveal that it will enter two new new markets this year: the provinces of Quebec and Manitoba.

HOFFMAN ESTATES, Ill. -- Kmart, LF USA and Latin World Entertainment Licensing announced the launch of a new lifestyle collection by renowned actress Sofia Vergara. Sold exclusively through Kmart, the collection will embody the "Modern Family" star's signature style of glamour and sexiness with an air of approachability, according to a press release.

The collection, which will include sportswear, dresses, handbags, jewelry, and footwear will be available at over 800 Kmart stores nationwide and Kmart.com beginning this fall.

Chicago -- Urban Retail Properties, LLC announced the appointment of John N. Christen as executive VP director of new business development.

Christen has been actively engaged in the commercial real estate industry in several capacities for over 15 years, most recently as founder of Christen Realty Capital, LLC.
 

Topeka, Kan. -- Payless ShoeSource announced that Vincent DeSantis has been promoted to senior VP and chief marketing officer for Payless, reporting to LuAnn Via, CEO of Payless.

First it was Walmart U.S. president and CEO Bill Simon at the White House with First Lady Michelle Obama announcing a healthy food initiative that generated enormous amounts of favorable publicity for the company. Now we get word out of Europe that Walmart president and CEO Mike Duke and Walmart International president and CEO Doug McMillon not only attended the World Economic Forum in Davos, Switzerland, they hosted a breakfast meeting.

Atlanta-based Newell Rubbermaid used the term "growth trifecta" to describe its 2010 performance -- strong sales, strong margins and strong earnings.

The company reported fourth quarter net income of $75.7 million, up 24.9% from $60.6 million reported for the same period last year.

Sales for the quarter ended Dec. 31 were $1.46 billion, up 3.4% from $1.42 billion reported for the same period in 2009. 

For the full year, the company reported net income of $292.8, up % from $285.5 reported in 2009.

Indianapolis -- Simon Property Group said Wednesday that, effective Feb. 1, it will assume leasing, management and marketing duties at The Shops at Montebello, a Los Angeles-area shopping center.

The Shops at Montebello is a regional enclosed mall built in 1985 with approximately 758,000 sq. ft. The center is home to over 160 retailers and is anchored by Macy's, Macy's Home, J.C. Penney and Forever 21.