Corporate Governance

Target, HomeGoods, and Petco will be opening this month at Closter Plaza, a Whole Foods-anchored center in Closter, New Jersey, undergoing a complete redevelopment.   Owner Edens has stated it is “re-energizing” the 208,337-sq.-ft. center with tenants possessing greater appeal to affluent local residents. The developer reports that the average household income within a five-mile radius of the center is $134,000.  

Walmart is expanding its mobile payment options.   Walmart will accept Chase Pay on Walmart.com, through the Walmart mobile app, and in its stores through the app’s Walmart Pay feature. The digital payment solution allows shoppers to make secure digital payments in-store and online while earning rewards and receiving offers. Chase Pay also protects the customer through token technology, which utilizes one-time complex codes to process transactions and keep credit and debit card information secure.  

There’s going to be change in the leadership structure at Whole Foods Market that will leave founder John Mackey as the sole CEO of the company.   Walter Robb, a 25-year Whole Foods veteran, is stepping down as co-CEO of the chain, effective Dec. 31. Robb, who has shared the CEO title with Mackey for six years, will remain on the board of directors and continue to serve as a senior advisor to the company and as chairman of the Whole Kids Foundation and Whole Cities Foundation.     

Petco will celebrate the grand opening of nine new stores nationwide in November and December.   The openings are in keeping with the company’s fast-paced 2016 growth plan, which includes 63 new Petco stores and one new Unleashed by Petco store year-to-date.   In addition to the nine new locations, Petco will also celebrate the grand reopening of a relocated store in Kettering, Ohio.  

That was fast.   Anne Dament, senior VP of grocery merchandising for Target Corp., is leaving the chain, after less than 18 months on the job. Her last day will be Nov. 18.   Damen’s exit will mark the third high-level executive departure at Target in less than three months. In August, the chain’s chief marketing officer, Jeff Jones, resigned to join Uber. And in September, chief digital officer Jason Goldberger left.    

Because of the tone and tenor of the presidential campaign, lots of folks might be surprised to learn there are many other significant races going on across the country. These so-called “down-ballot” elections for governors’ offices, U.S. House and Senate seats, state legislatures and other offices may hold the real clues for what the next four years entail for employers, no matter who wins the White House. Believe it or not, there are substantive candidates actually discussing substantive kitchen table issues that impact families and communities.

China’s sluggish economy didn’t stop Alibaba from increasing revenue by 55% for the September quarter.  

Taubman is taking the Santa experience to a higher level — literally — at 12 malls this holiday season.   On Nov. 11, the mall owner and manager will debut “Santa’s Flight Academy,” where kids will be able to register as members of the jolly old elf’s flight crew, help Sleigh Mechanic George or Reindeer Caretaker Flash prepare for liftoff and engage in what Taubman is describing as an “immersive holiday experience.”