Corporate Governance

Unusual retail concept puts new spin on tech retailing
A very tech-savvy retailer retail is expanding its fledgling physical footprint with an eye toward national expansion. b8ta, which lets people test out products from a variety of tech companies, including many small start-up, has opened a store at University Village, Seattle, along with one at Santa Monica Place, Santa Monica, Calif. Both locations were designed by Gensler, and feature a sleek, modern design.
Report: J.C. Penney test deeper dive into appliances
J.C. Penney is testing a category more typically associated with Home Depot or Lowe’s than a department store: heating, ventilation and air-conditioning systems. According to a report by Dallas Morning News, the test is being done in partnership with Trane, an HVAC company, and includes a display of the HVAC service near the major appliances at a few locations.

Freeman sells mall it’s held since 1968

After nearly 50 years of ownership, the Carl M. Freeman Companies has sold the Cabin John Shopping Center and Mall in Potomac, Maryland, to Edens for $165 million. Freeman parted with a property that it built in 1968 in order to amass capital for other projects, according to CEO Michelle Freeman, who assumed the helm of the company after her husband, Josh, perished in a helicopter crash.
Philippines: Bringing green space inside the mall

Lifescapes International, an architectural landscape company that’s responsible for outdoor displays such as the Rockefeller Center Promenade and the Bellagio water show, is testing the boundaries of indoor greenery in the Philippines.
Top 10 Retail Stories of 2016

From start to finish, many of this year’s biggest retail stories involved mergers and acquisitions as the industry continues to remake itself in a digital age. Here’s a look back at 10 stories that caused big buzz — and were the most viewed by readers on Chainstoreage.com.
Whole Foods Market hit with class-action suit over employee bonuses

One current and one former employee of Whole Foods Market have filed a federal class-action lawsuit against the grocer.
Walgreens acquisition of Rite Aid expected to close in early 2017

Walgreens Boots Alliance’s acquisition of Rite Aid took a big step forward with announcement of the divestiture of 865 Rite Aid stores to Fred’s Pharmacy for $950 million.
Off-price retailer acquired with eye to expansion

Private-equity firm Warburg Pincus has agreed to acquire Gabriel Brothers (Gabe's) from Alvarez & Marsal Capital. The terms of the transaction were not disclosed.
The CFO’s Expanded Role in Profitably Managing the Retail Transformation

With the retail environment undergoing the most complex changes in our generation, the sustainability of the current retail economic model is in question. Historically, retail CFO’s, as the principal financial oficers, were primarily responsible for more traditional finance, treasury, regulatory, information delivery and related functions.
Happy Holidays from CSA

Chain Store Age will be closed Dec. 23 and Dec. 26, and will publish again on Monday, Dec. 27. We wish you and your families best wishes for a happy, healthy and joyous holiday.
Bed Bath & Beyond falls short

Bed Bath & Beyond Inc. reported less-than-expected earnings for its third quarter, hurt by continuing higher expenses and flat sales. The retailer’s profit dropped to $126.4 million or $0.85 per share, from $177.8 million or $1.09 per share in the year-ago period. Sales inched up 0.1% to $2.96 billion, also lower than expected.
Analysis: The Finish Line stumbles

While Finish Line notched up reasonable overall sales growth in its third quarter, this has been overshadowed by both very weak comparables and an almost doubling of net losses to $40.4 million. Overall, the results are markedly worse than last quarter when total sales grew by 5.4%, aided by a 5.1% growth in comparables.