Corporate Governance

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As Target moves to reimagine the shopping experience for customers who visit its stores, the retailer has applied for two liquor licenses for a future store in Chicago.

USA Today reports that the company has applied for packaged goods and consumption on premises licenses.

The retailer may be trying to follow the lead of Kroger, Duane Reade and other retailers looking to expand their alcoholic offerings, which could pose operational challenges at these stores.

Washington, D.C. -- Edens announced that Mike Isabella, of Bravo TV’s “Top Chef” fame, will open his Kapnos Kouzina restaurant concept at Mosaic, Edens’ mixed-use development located in Fairfax County, Virginia. The restaurant is slated to open in early 2016.

Newcastle, Wash. -- Retail Properties of America announced that it has closed on the off-market acquisition of Coal Creek Marketplace, a 56,000 sq. ft. grocery-anchored center located in Newcastle, Washington for approximately $17.6 million. The center is currently 95% occupied and anchored by Quality Food Centers, a subsidiary of Kroger.

Toronto – Real estate transactions helped Sears Canada swing to a profit in the second quarter even as revenue and same-store sales decreased.

The retailer on Wednesday reported net earnings of $13.5 million, compared to a net loss of $21.3 million the same quarter a year earlier. The company, which has been working to turn around its business, also announced additional cost-cutting plans and real-estate sales.

Louisville, Ky. -- A new off-price outlet concept that opened its first store in November 2014 is expanding.

Retail4LESS announced the opening of two new locations in Kentucky — one in Madisonville, and the second in Franklin — with both due to open in the late fall.

The opening of the two new stores will mark the first new stores for the off-price retailer since the launch of its inaugural location last year, in its home base of Louisville.

Staples is injecting more starpower into its latest promotion aimed at supporting education.

The retailer is building on its decades-long support of teachers, students and education by funding 176 local classroom projects in New York City, as part of its recent $10 million pledge to Think It Up, a new national initiative of the Entertainment Industry Foundation that seeks to inaugurate a new movement in support of students, teachers and schools, helping to create a culture of excitement about learning everywhere in America.

After a monthslong search for a new president and chief executive, the Fresh Market Inc. has turned to a retail veteran to provide leadership at a time when the company's growth has been stagnant. 

The Fresh Market announced that its board of directors has named veteran food retail executive Richard Anicetti as the company’s president and CEO, effective immediately. Anicetti has also been elected to the company’s board of directors.