Corporate Governance

Salt Lake City -- Robert Redford’s Sundance Catalog is growing from its Western roots as it expands its retail footprint.

The company will open a store in Edina, Minnesota, on Thursday, Sept. 17. The opening is one of two locations Sundance will open east of the Rocky Mountains in 2015 as it grows from lits Western home base. The company plans to continue its retail growth over the next several years with additional stores targeted across various locations nationwide.

Minneapolis – Target Corp. is reportedly bringing a sunny approach to energy at its store in Fayetteville, North Carolina.

According to the Fayetteville Observer, Target will install solar panels that can generate 432 KwH of electricity per year on the store’s roof. There is no firm launch date yet for the store’s solar panels, which will likely generate 15%-30% of its total electricity needs.   

Wayne, N.J. – Toys “R” Us has put an executive from L’Oreal in charge of its human resources.

The toy giant appointed Tim Grace as executive VP, global chief talent officer, effective Sept. 14.

Grace will oversee all global human resources functions, including organizational design, talent acquisition, succession planning, learning, change management and labor and employee relations, as well as compensation and benefits.

“Now Trending” is an exclusive online series to chainstoreage.com, featuring trending topics that impact the retail real estate landscape.

At a time when the growing influence of millennials and the ongoing development, redevelopment and revitalization of urban communities continue to shape the commercial development landscape, the changes taking place in the hotel and multi-family sectors reflect many of those same demographic and development trends.

The company, the PGA Tour’s exclusive off-course/off-airport retail partner, has built a business dedicated to providing golf enthusiasts of all levels access to the same technology and expertise that card-carrying Tour pros enjoy. Stores are staffed with teaching professionals and have multiple state-of-the-art swing simulators, practice hitting bays, and large putting greens. There is also an in-house club-making and repair facility.   

A red-hot real estate market and sky-high property values have some retailers, including Macy’s and more recently, McDonalds, feeling the pressure to cash in on the value of their real estate assets. How? By spinning off store properties and/or land assets into a REIT and entering into a lease-back deal.

Vancouver – Despite a healthy increase in net revenue, net income slipped at Lululemon Athletica during the second quarter of fiscal 2015.

Net income dropped 2% to $47.67 million from $48.75 million, with higher costs and expenses driving down profits.

Net revenue grew 16% to $453.01 million from $390.7 million, aided by an 11% increase in total comparable sales. This encompassed a 6% increase in same-store sales and 35% increase in direct-to-consumer sales.

Ft. Myers, Fla. – Chico’s FAS Inc. may be considering a sale to one of several private equity suitors.

According to Bloomberg, Chico’s has been approached by Sycamore Partners and is also in talks with other private equity groups about a possible sale.

Mooresville, N.C. - Lowe's Companies Inc. has named Jocelyn Wong senior VP and general merchandising manager for the company's seasonal product business area, effective Oct. 12.

Wong joins Lowe's from Family Dollar, where she served as senior VP, chief marketing officer since 2012.

New York – Front-running Republican presidential contender Donald Trump continued his war of words with Macy’s Inc. during a Sunday morning interview on the CBS program, "Face the Nation."

Trump singled out Macy’s as an example of companies where the CEO places their friends on the board and receives inappropriately high pay.