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Strategy

  • Grubb & Ellis names execs

    Los Angeles -- Grubb & Ellis Co. announced Monday that Arlene Sommer and Mark Robinson have joined the company’s Office Group as executive VPs, along with Evan Kantor who joins as a senior associate.

    Specializing in office tenant representation, primarily in the media, entertainment, legal and financial industries, the team joins from Studley, where they served as executive managing director, senior managing director and assistant director, respectively.

  • Best Buy Q3 profit misses, cuts full-year forecast

    Minneapolis -- Best Buy Co. reported an unexpected decline in fiscal third-quarter profit Tuesday, as lower demand for televisions and videogames led to a sales shortfall in the United States. The chain cut its full-year forecast.

    Best Buy Co. said that its third-quarter net income fell 4% to $217 million, while revenue fell 1% to $11.89 billion. Same-store sales fell 3.3%. Results missed Wall Street projections.

    Best Buy said it has cut its full-year outlook, as it faces stepped-up competition from online and discount stores.

  • Working with Walmart: What suppliers really think

    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.

  • Pantry reports profit drop in Q4, swings to loss for full-year

    Cary, N.C. -- C-store chain The Pantry reported Tuesday that net income for the quarter ended Sept. 30 dropped to $8.5 million, compared with $12.5 million in the year-ago period.

    Merchandise revenue for the fourth quarter increased 12% overall and 5.7% on a same-store basis from last year’s fourth quarter.

  • Target to save planet too

    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.

  • NRF Show Preview

    NRF Convention: Influential Demographics

    The annual NRF Convention attracts retailers from around the globe. Here is a breakdown of the attendees by job titles:

  • Pizzicato Ristorante opens at Moorestown Mall

    Moorestown, N.J. -- Philadelphia-based Pennsylvania Real Estate Investment Trust (PREIT) said Tuesday that locally owned Italian restaurateur Pizzicato Ristorante has opened at Moorestown Mall, in Moorestown, N.J.

    The 3,059-sq.-ft. restaurant, a BYO establishment, is located next to Pei Wei.

    The 1.1-million-sq.-ft. Moorestown Mall is owned and managed by PREIT, and anchored by Macy’s, Lord & Taylor, Sears and Boscov’s.

  • Centro NP Residual Holding forms JV with Inland American

    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.

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