Strategy

New York City -- Centro NP Residual Holding LLC said Friday it has sold a portion of its interest in 25 shopping centers and formed a joint venture with Inland American CP Investment, LLC, a wholly owned subsidiary of Inland American Real Estate Trust.

The new joint venture has secured $310 million of term loans with J.P. Morgan and Goldman Sachs, which mature in 10 years and are secured by assets within the joint venture.

Taking the long view of what is expected to be moderate consumer demand in the United States, it is apparent the primary sources of growth for retailers are to gain share from competitors and capture a larger share of wallet from existing customers. It’s why there is so much effort expended on the loyalty front, as retailers know success is dependent on keeping existing customers happy and rewarding them ever more generously for their loyalty.

Chicago -- According to a survey released Monday by CareerBuilder and conducted by Harris Interactive, 80% of retail companies report that a bad hire has adversely affected their business in the last year, meaning that hiring the right employees will become a top priority in 2011.

Nearly one-quarter (23%) of the 254 U.S. retail hiring managers surveyed said that one bad hire cost their business more than $50,000 in the last year. One-third (33%) said that one bad hire cost them more than $25,000.

Washington, D.C. -- Tuesday’s report by the U.S. Department of Commerce showed a fifth straight month of sales gains in November for U.S. retailers. Monthly retail sales figures for November were up 0.8% over October and 7.7% over November 2009.

Retail sales excluding auto sales were up 1.2% over the previous month and 6.7% over November 2009.

Department stores were the big November winners, recording the biggest sales rise in two years of 2.8%.

Baltimore -- Jacksonville, Fla.-based Regency Centers on Tuesday announced the completion of an interior and exterior store remodel of Shoppers Food & Pharmacy at Southside Marketplace, located in Baltimore. 

The newly renovated anchor includes an upgraded shopping experience with updated finishes, lighting and store fixtures inside and out.

If the eyes are the window to the soul, then Walmart’s suppliers are the window to its future thanks to the truly unique relationship the retailer enjoys with its trading partners. Walmart brought new meaning to the concept of collaboration when it pursued a strategy of data transparency decades ago that enabled fact-based decision making.

New York City -- Winick Realty Group announced that Smart Fashion, a national importer and exporter of women’s apparel, has leased its first retail location at 149B West 36th Street, between Broadway and 7th Avenue in Manhattan’s Garment District.

Smart Fashion already operates a wholesale showroom nearby at 1407 Broadway.

The 2,000-sq.-ft. store will focus on trendy junior sportswear.

While such retailers as Kohl’s, Walmart and Office Depot were receiving accolades for their sustainability efforts the past few years, Target was seldom mentioned in the same breath. Target wasn’t exactly destroying the planet, but it was far less vocal and precise than others about its efforts in the area of sustainability. Not any more. The company last week established some clear goals regarding resource usage, waste elimination and carbon footprint reduction and a time frame in which to achieve them.