Corporate Governance

Company expands c-store network
Westlake, Ohio -- TravelCenters of America has completed its previously disclosed acquisition of 33 convenience store locations in northern Illinois.

The company expects the stores, which average approximately 3,400 sq. ft., will be rebranded as Minit Mart convenience stores and the sites will undergo improvements in the coming months.

TravelCenters of America operates some 370 convenience stores under the Minit Mart, TA and Petro Stopping Centers brands.
A brighter future for J.C. Penney?
Plano, Texas -- While it’s way too early to start popping the champagne, J.C. Penney Co. has to be pleased about its second quarter financial results, which topped analysts expectations and suggested that the company’s turnaround is in progress.

Walmart expands e-commerce capacity

Plainfield, Ind. -- Walmart had added to its online fulfillment capabilities.
Restoration Hardware to launch teen concept

Corte Madera, Calif. -- Teens with a hankering for pricey furniture and décor — and affluent parents — will now have a new place to shop.

RH (Restoration Hardware) is launching RH Teen, which will offer “tasteful, high quality” furniture, lighting, linens and décor for teens. Launching in late September, RH Teen will have a own dedicated 200-page catalog (or, in RH lingo, “source book”), website and dedicated retail space in the company’s next generation of stores.
Rent-A-Center key exec leaving to head up pawn business

Plano, Texas -- Rent-A-Center announced the resignation of company veteran Mitchell E. Fadel, president and COO, effective Aug. 28.

Fadel is leaving to join EZCORP, where he will be president, U.S. Pawn. In his new position, he will lead the company's pawn businesses in the United States.
$800 million mixed-use transformation of Miami suburb underway

Miami – The Related Group is set to transform the Miami suburb of Doral with the massive 600,000 sq. ft. CityPlace Doral. The $800 million mixed-use development components include 240,000 sq. ft. commercial space, 1,000 luxury residential units and Boutique Boulevard -- more than 40 shopping, entertainment and dining venues. Once complete, the project will offer the area’s only walkable luxury shopping plaza.
More curbside pickup at Target

Palo Alto, Calif. -- Target customers at select stores in New York and New Jersey won’t have to get out of their cars anymore to pick up online orders.

Curbside, a Bay Area-based startup, announced that is has expanded its curbside pick-up service to New York and New Jersey with the rollout of 10 new Target locations. Until now, Curbside had only been available in the San Francisco Bay Area.
Report: Target not replacing departing merchandising VP

New York -- Another executive is leaving Target Corp. in the ongoing shakeup of the retailer’s management team under the watch of CEO Brian Cornell.

Jose Barra, an executive VP who headed up merchandising for various large categories, including beauty, electronics and grocery, is leaving for a new position, the Wall Street Journal reported.
For retailers, it may be time to ramp up the buybacks

Retailers rely on a combination of dividend payments and share repurchase programs to return cash to stockholders, but the latter method is coming under scrutiny as Democrats look to leverage the populist theme of income inequality during the 2016 presidential campaign.
Another shakeup to the leadership at Target

Another high level defection from Target's merchandising ranks suggests CEO Brian Cornell's strategic vision for the retailer is not universally shared.

Jose Barra, executive vice president in charge of merchandising at Target, is departing the Minnesota-based retailer for a new position, The Wall Street Journal reported.
Restoration Hardware targets teens

Teens with a hankering for pricey furniture and décor — and affluent parents — will now have a new place to shop.
Is JCPenney finally making a comeback?

JCPenney 's renewed focus on omnichannel seems to be improving profitability for the retailer, which reported sales and revenue increases in the second quarter.

The company posted a net loss of $138 million, or 45 cents a share, in the quarter that ended Aug. 1, compared with a loss of $172 million, or 56 cents a share, a year ago. Total sales increased 2.7 percent from $2.80 billion a year ago to $2.89 billion. Same-store sales were up 4.1% and better than results also reported this week from Macy’s, Kohl’s and Dillard’s.