Corporate Governance

Rue 21 has added the positions of COO and chief marketing officer to its executive roster.   The chain has promoted Dirk Armstrong to COO. Armstrong has been with rue21 for nearly five years and was formerly senior VP and director of stores. Previously, he served as senior VP, director of stores at Ann Taylor and regional director at Gap Inc.   

The Tile Shop is expanding, in new markets and existing ones.   The specialty retailer opened its first location in Washington, D.C., a 10,400-sq.-ft. store in the historic neighborhood of Tenleytown.    The Tile Shop also opened its twelfth location in the Chicago metro area, in Schererville, Indiana.   

Spin, an entertainment concept that had its genesis in “Naked Ping Pong” parties in New York’s Tribeca neighborhood, has taken the ground floor space to close out leasing at a new retail venue in Philadelphia.   The glass-fronted, 55,000-sq.-ft. center in Rittenhouse Square, owned by an affiliate of Midwood Investment & Development, is co-anchored by The Cheesecake Factory and Verizon. Also inhabiting the three-story building is &Pizza and WeWork, a collaborative work space.  

A new partnership plans to open dozens of Dunkin’ Donuts locations in Louisiana.    The company announced that New Orleans Saints Quarterback Drew Brees, in partnership with existing franchisee Vik Patel, has signed an agreement to develop up to 69 new Dunkin' Donuts restaurants in New Orleans, Baton Rouge, Shreveport, Monroe and Alexandria, Louisiana over the coming years. Brees is a New Orleans Saints Super Bowl champion and MVP and former New York Giants offensive lineman.   

Walgreens Boots Alliance is piloting a retail vision care center within the Walgreens flagship in the Wrigley Building in Chicago, the company recently revealed, taking what has been a successful page out of its U.K.-based Boots Pharmacy division and applying that strategy to the U.S. market.  

Sears Holdings Corp. has received another lifeline courtesy of CEO Eddie Lampert.    The struggling retailer said it has received loan, called a secured letter of credit, for $200 million, with an option to expand the amount to as much as $500 million with the consent of lenders.  

Nasty Gal is moving ahead with plans to be acquired by a British online fast-fashion retailer.     

As the new year begins, it’s not looking very good for the ailing Limited Stores.   Reports are coming in from around the country of Limited store closings, The Columbus Dispatch reported. In Florida, some stores closed after business hours on Christmas Eve.