Corporate Governance

Washington Prime Group and O’Connor Capital Partner announced the formation of a joint venture partnership in seven open-air retail centers. WPG will be the controlling partner with a 51% stake.   The seven properties are:   • Arbor Hills in Ann Arbor, Michigan;  • Classen Curve/Nichols Hills Plaza/The Triangle at Classen Curve in Oklahoma City;  • Gateway Center in Austin, Texas;  • Palms Crossing in McAllen, Texas;

Target Corp.’s efforts to turnaround its business appear to be taking hold — at least based on its better-than-expected first quarter performance.     The discounter broke through the gloom that has characterized many other retailers’ first quarter results with earnings and sales that beat the Street and its own expectations. The company also gave a brighter outlook for the full year.   

American Eagle Outfitters’ profit shrunk in the first quarter amid charges and discounting.  

More hungry customers can now get their Big Macs, fries, beverages and desserts delivered right to their door.   As of Wednesday, May 17, McDonald’s is expanding its delivery service to customers in Los Angeles, Chicago, Columbus and Phoenix. Through its partnership with UberEats, the company’s “McDelivery” program now encompasses up to 1,000 restaurants in the United States.  

Amazon may have its sights set on a new, multi-billion dollar market.   The online giant may be on the cusp of entering the pharmaceutical dispensing business, according to a report by CNBC. The company reportedly has hired a general manager whose role is said to be helping the online retailer explore how to hang a pharmacy shingle.  

German discount grocer Lidl is set to shake up the competition with prices that promise to turn up the heat on its U.S. competitors, who are already engaged in a price war.    Lidl on Wednesday revealed the locations of the first 20 stores it will open this summer in the United States, starting on June 15. (See end of story for listing). The stores — in North Carolina, South Carolina and Virginia — are the first of up to 100 locations the grocer plans to open across the East Coast by next summer.    

Apple wants to give its shoppers more reasons to visit its stores than to make a purchase or visit the Genius Bar.  

The story of the reinvention of a mall into a multi-use development got more colorful this week.   Crayola Experience announced it will place its fourth U.S. location in The Shops at Willow Bend in Plano, Texas, a Starwood mall that is adding a seven-story office tower, an expanded dining district, and the North Texas Performing Arts Center in a top-to-bottom transformation.