Corporate Governance

A new retail brand called Main & Vine is entering Kroger’s extensive store portfolio soon and it could spell more trouble for Whole Foods and other competitors.

A Web site for the new concept is filled with beautiful photos of fresh products and bills the store as a place, “where eating is healthy, affordable and fun!” The site does not offer an indication of when the store will open other than soon.

Mahwah, N.J. – It took close to a year, but Ann Inc., owner of the Ann Taylor and Loft banners, has followed the wishes of major shareholders including Engine Capital LP and Red Alder LLC and agreed to an approximate $2.15 billion buyout from specialty apparel rival Ascena Retail Group Inc. Ascena, whose store brands include Lane Bryant and Dressbarn, will acquire Ann Inc. for $47 in cash and stock per share, a 21% premium over Ann Inc.’s May 15 closing price.

Dollar General’s nearly 13,000 stores will be closed on Christmas Day, but the retailer is offering an enticing online discount in hopes of making a digital connection with shoppers.

Auto chain Pep Boys announced Monday that a $16.50 per share takeover bid by activist investor Carl Icahn is a "superior offer" to a rival proposal by Bridgestone Retail Operations in September.

It's just the latest chapter in the ongoing saga of who gets to acquire Pep Boys, which has 800 locations in 35 states.

Pep Boys says it now prefers to take the offer from Icahn Enterprises and that Tokyo's Bridgestone Corp. has until Wednesday to up its bid.

Click and collect services are designed to provide an omnichannel shopping experience that combines the simplicity of ordering online and the immediacy of in-store pickup. But according to the Washington Post, this holiday season many retailers’ click and collect offerings have left much to be desired. [Washington Post]

Jet.com customers waiting for Christmas deliveries may want to start setting their sites on Boxing Day or other post-Christmas holiday events.

In a brief statement on its website, Jet.com acknowledged that it cannot guarantee that deliveries for any item not eligible for two-day shipping will arrive by Dec. 25. The statement cites nationwide shipping delays that have affected its delivery partners and thanks customers for their patronage during the retailer’s first holiday season.

Springfield, Va. -- PREIT announced that Springfield Town Center in Springfield, Virginia, has recorded $505 PSF in sales for tenants less than 10,000 sq. ft. open during the center's first full year of operation, 18% above the company's portfolio average as of September 30, 2015.

The newly redeveloped 1.35 million sq. ft. regional mall was acquired by PREIT March 2015 and celebrated its grand re-opening in October 2014 after undergoing a dramatic renovation and rebranding.

Houston --

Steel City Pops has leased 3,710-sq. ft. of retail space in Heights Plaza, a specialty retail center. Kyle Knight with the Houston office of The Weitzman Group handled negotiations as tenant representative for Steel City Pops.

Heights Plaza, a project of Houston developer Radom Capital, represents the redevelopment of a historic retail property that is home to several Texas-based concepts, including Bird’s Barbershop.

Houston -- Baker Katz announced the sale of a 2.12-acre property with an existing 13,000 sq. ft. office building located in Houston, near the cross streets of U.S. Highway 59 N and West Little York Road.

Baker Katz principal Kenneth Katz made the announcement.

Westfield Corp. announced Monday it has sold five of its U.S. shopping malls — totaling more than 6 million sq. feet of retail space across four states — to help fund a property development program. The move is line with the company’s recent strategy to focus on its flagship assets, which include the new World Trade Center mall, due to open in spring 2016.