Corporate Governance

L.L. Bean is going to set up camp in Boston.   The Freeport, Maine-based retailer will open its first permanent, full-line store in an urban location in spring 2018, in the Seaport District of Boston. The store will feature active and casual apparel, outerwear, and footwear, as well as outdoor lifestyle gear curated for residents and visitors of Boston. At 8,600 sq. ft., the Boston outpost will be significantly smaller than Bean’s traditional retail footprint.  

The countdown is on to the highly-anticipated U.S. debut of a sequel to the popular holiday-themed movie “Love Actually.” 

Southeastern Grocers’ announcement it would close six Bi-Lo stores in South Carolina leaves two Wheeler centers anchors, and the REIT has put out a call out for replacements.   CEO Jon S. Wheeler said his company would entertain a grocer or non-grocer to fill the vacancies at Cypress Shopping Center in Boiling Springs and Shoppes at Myrtle Park in Bluffton. Bi-Lo will shut down operations at the 47,260-sq.-ft. Cypress store and the 37,900-sq.-ft. Myrtle Park store in June.  

Inland Real Estate Acquisitions has purchased an 85-unit residential property with ground floor retail in Vernon Hills, Illinois.   Constructed in 2010, The Commons at Town Center is a six-story structure consisting of 85 multifamily units and 10,609-sq.-ft of retail space. Current tenants are Sam Martirano Salon & Spa, Hawthorn Dental Associates, Eight Piece Rolls, Design Studio Jewelry, and Giuseppe’s Pizza Restaurant.   

Outdoor retailer REI is setting up shop in a fast-growing gym niche.   REI and Momentum TM Indoor Climbing are launching REI Co-op Climb, which will serve as a hub for climbing gear, programming and events at each of Momentum’s new climbing gyms. Expert instructors from REI’s Outdoor School will help Momentum members and guests gain skills and confidence through gym to crag classes.   

Eddie Lampert, the chairman and CEO of embattled Sears Holdings Corp., is not holding back.    Days after he gave a rare newspaper interview in which he commented on the current state of affairs at Sears and partially blamed media coverage for its troubles, Lampert has taken vendors to task in a new blog post on the company’s website.  

An online menswear brand that is expanding its store footprint has expanded its senior team.      Vancouver, Canada-based Indochino has appointed Randy Binning as VP of retail operations. The 15-year Guess Inc. veteran most recently served as director of stores for Guess and Marchiano Canada. Prior that he was a regional director for Guess. Binning is charged with leading a consistent and exceptional customer experience across all locations and ensure continued profitability as the company continues to grow.  

Snapchat’s newest filters are moving beyond the selfie.   The company is rolling out a new augmented reality ad division that lets users overlay marketers’ life-like filters on any photo they snap with their smartphone, according to ReCode.   Warner Brothers is the unit’s first advertiser, tying the lenses to promote its new movie, “Everything, Everything.” Dunkin Donuts and Netflix are next in line to launch the service, the report said.  

Walmart is the subject of a federal lawsuit involving its alleged treatment of pregnant workers.   

Amazon is celebrating two decades as a public company in a big way — as an enterprise worth nearly $460 billion.   The retail giant, which began as a modest online bookstore, went public on the Nasdaq in an IPO valued at a modest $438 million. Today, Amazon has grown into an empire that not only sells books, but has become a major player across categories, including clothing, food, furniture, jewelry, private-label goods and electronics, among other segments.