Corporate Governance

Alex Cesar, who had been running JLL’s retail department in Brazil, has been hired by RKF to head up its Miami office.   “Alex will be a crucial driver of our expansion in South Florida and will strengthen the bridge between the Latin American and U.S. retail markets,” said RKF CEO Robert Futterman in announcing the move.  

The Wendy's Co. is offering an update on a cyberattack it first reported in February 2016, and it contains some decidedly unsurprising details.   Wendy’s believes the breach resulted from third-party service providers' remote access credentials being compromised. This allowed access, and the ability to deploy malware, to some franchisees' point-of-sale systems. To date, Wendy’s said there has been no indication that any Company-operated restaurants were impacted.  

Walmart grocery shoppers in North Carolina and Virginia may notice an improved assortment.   The discount giant is opening a 450,000-sq.-ft. distribution center in Mebane, North Carolina, on Wednesday, July 13. The facility, which cost nearly $100 million, will be dedicated to distributing perishables to stores in North Carolina and Virginia.  

Hhgregg is on the move.   The appliances, electronics and furniture retailer said it intends to open 25-30 Fine Lines appliance locations over the next two years. Hhgregg currently has 14 Fine Lines stores, including three new locations, with two in Ohio and one in Indianapolis.     

Brookfield Asset Management announced the completion of its deal to acquire Rouse Properties at a price of $18.25 per share.   Rouse will be merged with Brookfield’s BSREP II Retailing Pool LLC affiliate and the acquired company’s stock will be delisted from the New York Stock Exchange.  

The month of June brought a welcome bit of news for beleaguered Gap Inc.   The company reported that net sales for the five-week period ended July 2, 2016 increased 2% to $1.57 billion.   “We are pleased to see better performance across the portfolio this month, partly driven by an improvement in June traffic trends, particularly at Old Navy,” said Sabrina Simmons, CFO, Gap Inc.  

Target Corp. is tapping into its consumer base, including kids, to stay on an upward trajectory.

The Walmart Pay mobile digital payment service only began formal rollout in May 2016, but has already reached an impressive goal.   Initially announced in December 2015, Walmart Pay is now available of all of Walmart’s more than 4,600 U.S. stores. Available through the Walmart app for iOS and Android devices, Walmart Pay works at all checkout lanes, and with any credit, debit, pre-paid or Walmart gift card.