Corporate Governance

General Growth Properties is now officially ‘GGP’
Though General Growth Properties has long been most commonly known as GGP in the retail industry, the big mall owner has now made it official. Effective Jan. 27, the big mall owner with 126 properties in 40 states, officially changes its name to GGP. Founded in 1954 to develop grocery-anchored strip centers, GGP evolved into one of the largest providers of A-level mall space.
Texas to gain another Amazon fulfillment center
Everything is bigger in Texas — including Amazon’s breadth of fulfillment centers. The retail giant is planning its ninth Texas fulfillment center in Coppell, a move that will create 1,000 more full-time positions. The facility, which will be outfitted with state-of-the-art robotics, will be Amazon’s third located in Coppell. Amazon’s first Coppell warehouse began fulfilling customer orders in 2013; the second launched during the 2016 holiday shopping season.

Target CIO Mike McNamara Talks Tech Transformation

Mike McNamara, chief information officer and digital office for Target Corp, was among the speakers this week at the National Retail Federation’s annual Big Show in New York City. McNamara described how Target’s technology team is leading the way on transformation. In the blog post below, which is on Target’s website, McNamara discusses the change he is leading, and some of the exciting technologies he saw at the Big Show:
Alipay expands North American presence

More North American shoppers will have access to Alipay. Through a partnership with leading luxury travel retailer DFS Group, Alipay’s in-store mobile payment service will be available in DFS’ Honolulu International Airport store, and its downtown T Galleria by DFS, Hawaii store in advance of the Chinese New Year. DFS Group launched Alipay in its airport stores in SFO, LAX, and JFK in 2016.
C-suite tech moves at Nordstrom

Nordstrom is realigning and streamlining its top technology positions. The company said that Dan Little, Nordstrom’s chief information officer, plans to retire next fall. Little joined Nordstrom in 2002, as VP, supply chain strategy. He was named to his current position in 2014.
Nine West acquires women’s clothing brand

Nine West Holdings has entered into an agreement to purchase a 30-years plus women’s apparel company. Nine West said it has used the net proceeds from the December 2016 sale of its Easy Spirit wholesale business to purchase the Kasper Group. The terms of the transaction were not disclosed. The Kasper Group's apparel is sold under its flagship Kasper and other well-known brand names.
Report: Retailers lag in digital transformation

Nearly half of retailer leaders will be out of business if they don’t transform themselves digitally. This is according to “Reinventing Retail: Cisco Reveals How Stores Can Surge Ahead on the Digital Transformation Journey,” a study based on data from 200 retail executives from North and South America and regions of Europe. Companies represent brick-and-mortar retailers, e-commerce, apparel manufacturers, food service and other segments of retail.
Yankee Candle modernizes front end

Yankee Candle is all about catering to its customers. A new point-of-sale will help associates further drive this experience.
Advance Auto Parts exec to head wireless retail chain

A Wireless, which operates more than 1,140 Verizon-branded stores in 46 states, has appointed 26-year retail veteran George Sherman as its new CEO. Most recently, Sherman was president and also served as interim CEO for Advance Auto Parts. Prior to that, he was senior VP, global services and president, Best Buy Services for Best Buy from 2009 until 2013.
Target exec returns home to Supervalu

Supervalu has appointed Anne Dament to senior VP of retail, merchandising and marketing, effective immediately. Dament is a 25-year retail veteran who began her career at Supervalu. She most recently served as senior VP, president of merchandising for Target Corp., where she oversaw food merchandising for its grocery business, including perishables, non-perishables, food service and private-label brands.
Target cuts forecast on sluggish holiday sales

Another retailer is reporting a less-than-stellar holiday. Target Corp. on Wednesday cut its guidance for the fourth quarter and year on the heels of a 1.3% decline in same-store sales in November and December. (Total sales for the combined month decreased 4.9%, reflecting the impact of the December 2015 sale of the company’s pharmacy and clinic businesses.)
Home improvement giant taps veteran as finance chief

Lowe's Companies has promoted a 20-year company veteran to CFO. The retailer announced that Marshall A. Croom will succeed Robert F. (Bob) Hull Jr. as chief financial officer, effective March 3. Hull plans to retire after 17 years with the company.