Corporate Governance

Covington, Louisiana - Stirling Properties has named Michael Bucher as Development Director, charged with leading new and on-going development projects, including ground-up development, redevelopment and joint ventures.     Based in the Covington office, Bucher will plan, coordinate and direct personnel relating to development and redevelopment.   

New York - Stonehenge Partners announced that Wells Fargo has officially opened its 1,375-sq.-ft. space at 120 Ninth Avenue. Wells Fargo is the first tenant to take occupancy at the retail property, which offers almost an entire block of frontage on 9th Avenue between 17th and 18th streets.  

New York - Wal-Mart Stores Inc. has reportedly discovered discrepancies in accounting practices its China business was using that made performance look better than it really was. According to Bloomberg, shifty accounting practices included making unauthorized bulk sales to other retailers and even booking non-existent sales. 

by Gina Acosta   Mooresville, N.C. - Lowe’s Companies’ CEO Robert Niblock cited the recovering U.S. economy as among the reasons why the company plans to focus more on market differentiation and omnichannel retailing. The company said it will outline these and other strategic priorities in a meeting with investors on Dec. 11 in North Carolina.  

New York - Olshan Properties announced that Matthew B. Winn will join the firm effective January 2015 as COO.  Reporting directly to CEO Andrea Olshan and working closely with her executive team on the overall management of the company, Winn will be responsible for leading the firm’s daily operations and refining its operating policies, procedures, and processes. He will also focus on ensuring growth of the company’s platform as well as work to enhance its operational efficiency.   

New York – Activist investor fund Starboard Value has reportedly purchased a 6% stake in Staples Inc. and upped its ownership of Office Depot from 8.6% to 10%. According to the Wall Street Journal, Starboard Value may be positioning itself to pressure the two office supply retailers to merge.  

Austin, Texas - Business software solution provider Epicor Software Corp. has agreed to acquire Atlanta-based ShopVisible LLC, a provider of cloud retail order management and digital commerce solutions. The acquisition of ShopVisible, expected to close by the end of the year, will expand Epicor’s position as a provider of extended omni-channel solutions for midsize and large retail chains.   

City of Commerce, Calif. - 99 Cents Only Stores reported a loss loss and a decline in same store sales in the third quarter.   The company reported a loss of $3.8 million in the third quarter, ended Oct. 31, compared to income of $1 million in the prior year quarter.   Net sales increased by 5.0% to $478.3 million.  Same store sales decreased 0.7% compared with the prior year quarter.   

CINCINNATI — David Dillon, who led Kroger's development of the company's successful Customer 1st Strategy, will retire as chairman of the board on Dec. 31 after 38 years of service.   As expected, the Kroger Board of Directors on Thursday elected Rodney McMullen, Kroger's CEO, to the additional post of chairman, commencing Jan. 1, 2015. McMullen has served on the board of directors since 2003.  

In the final installment of CSA Online’s PizzaRev series, we’ll explore the importance of choosing franchisees with a particularly discerning eye, and the process by which franchisors evaluate potential expansion markets.    FRANCHISEE FACTORS