Corporate Governance

Target Corp.’s partnership with MIT Media Lab and global design firm IDEO is bearing fruit — literally.

In January, Target announced the launch of the Food + Future coLab, a multi-year collaboration with MIT and IDEO to explore the future of food. Although it’s only been a couple of months, Target is already testing two ideas from the coli.

Ross Dress for Less opened a new store in Jenkintown, Pennsylvania, on March 5.

The 26,000-sq.-ft. store is located in the Noble Town Center, 15 miles north of downtown Philadelphia, at the northeast corner of Old York Road and The Fairway.

The opening is part of the retailer’s 2016 expansion program, totaling about 70 new locations during the year.

Starbucks Corp. announced a major initiative to help the nation’s neediest citizens.

The coffee giant is launching FoodShare, a program to donate all leftover ready-to-eat meals from its 7,600 U.S. company-operated stores to food banks. In the first year alone, the program will be able to provide nearly 5 million meals, according to company estimates.

Brick-and-mortar retailers are on notice – shifting customer demographics will require far-reaching redesign of the physical store by 2025.

According to a new study from technology market intelligence firm ABI Research, millennials are driving a revolution in how stores use technology to provide a shopping experience.

Los Angeles -- CBRE Group for the fifth consecutive year was the top-ranked firm for commercial real estate investment sales throughout the world during 2015, according to Real Capital Analytics (RCA). CBRE has achieved the number one position in each of the five years that RCA has published global rankings.

Real Capital Analytics credited CBRE with 21.9% of market share across all property types, office, industrial, retail, apartment and development sites, in 2015 on a global basis.

Apparel chains focused on tweens and teens are increasingly at risk of filing for bankruptcy protection.

At least that’s the view of Michael McGrail, COO of Tiger Capital Group and a veteran retail liquidation and asset appraisal executive.

Modell’s Sporting Goods continues to grow its brick-and-mortar footprint. The New York-based company has added two more stores to its portfolio, one in Boston and the other in Philadelphia. Both stores are in prime locations formerly occupied by City Sports. (City Sports filed for bankruptcy in October 2016, and subsequently announced it would close all locations.)

In Boston, Modell’s opened an 11,000-sq.-ft. store on Boylston Street, in the city’s Back Bay area. It’s the retailer’s first outpost in downtown Boston.

Tommy Hilfiger will be inducted into the World Retail Hall of Fame at the 10th Annual World Retail Congress, to be held at the Madinat Jumeirah in Dubai on April 12-14.

Hilfiger introduced his signature collection in 1985. Since then, the business has grown from a single menswear collection to a global lifestyle brand achieving over $6.7 billion in retail sales in 2014. There are over 1,400 Tommy Hilfiger stores in over 115 countries.