Strategy

New York City -- Barnes & Noble's shareholders on Wednesday ratified a shareholder rights plan that prevents an outside investor from acquiring 20% or more of the company's shares without board approval. 

Preliminary results show 72% of shareholders voted in favor of the plan at a special shareholder meeting in New York. The plan limits shareholder stakes to 20%, finally making the so-called "poison pill" official.

Natick, Mass. -- BJ's Wholesale Club reported third-quarter earnings Wednesday that beat Wall Street expectations on improved revenue from gas and merchandise rose. The warehouse club operator raised its earnings guidance for the year.

BJ’s net income rose to $23 million for the three months ended Oct. 30, up from $17.4 million a year ago.

Revenue rose 5% to $2.63 billion from $2.51 billion last year, just shy of the $2.64 billion expected by analysts. Same-store sales rose 2.5%, or 1.5% excluding gas sales.

Chesapeake, Va. -- Dollar Tree announced that it has completed its purchase of the assets of  Dollar Giant Store Ltd, which is based in Vancouver, B.C. The purchase is Dollar Tree’s first expansion of its retail operations outside of the United States.

Dollar Giant stores offer a wide assortment of quality general merchandise, contemporary seasonal goods and everyday consumables, all priced at $1.25 (CAD) or less. The stores average 9,000 sq. ft. and operate in British Columbia, Ontario, Alberta and Saskatchewan.

Tampa, Fla. -- RMC Property Group announced that it has added tenant representation to its scope of services that currently includes leasing and management, brokerage, owner and developer.

“In many ways, we have been practicing tenant representation for years, assisting our clients in backfilling empty boxes or securing new retail locations for tenants,” said Susie Rice, president of RMC Property Group.

To launch the new division, RMC Property Group has added real estate broker David Gibson.

Winchester, Va. -- Bethesda, Md.-based Sax Realty said that Bed Bath & Beyond has leased 27,000 sq. ft. of space at Shops at Tevis in Winchester, Va.

Bed Bath & Beyond, which is slated to open in spring 2011, joins Borders Books, Hhgregg, Old Navy, Ross and Michael’s at the center.

Carrollwood, Fla. -- RMC Property Management Group announced that Main Street Cinemas has executed a lease to open a family-oriented theater at Main Street Shopping Center, in Carrollwood, Fla.

The new tenant, which is slated to open May 2011, will occupy 20,500 sq ft., feature luxury seating and offer eight screens. It will join Mimi’s, Michael’s Grill, Jenn’s Wine Shop and others at the shopping center.
 

San Francisco -- Continuing its global expansion, Gap announced a franchise agreement to introduce its namesake Gap brand in South America. The first Gap store is expected to open in Santiago, Chile, in the Parque Arauco mall, in September 2011.

Gap has signed a franchise agreement with Komax, for exclusive rights to operate Gap brand stores in Chile. Komax will purchase merchandise from Gap and must adhere to the company’s quality standards.

San Jose, Calif. -- VeriFone Systems, a global leader in secure electronic payment solutions, and Hypercom Corp., the high-security electronic payment and digital transactions solutions provider, Wednesday announced a definitive agreement under which VeriFone will acquire Hypercom in an all-stock transaction valued at approximately $485 million, including net debt assumed by VeriFone.