Corporate Governance

New York -- Saks Fifth Avenue announced that it plans to close its Saks Fifth Avenue store in the Shops at Riverside in Hackensack, N.J. The store is expected to close in late 2014.   “Closing a location is never an easy business decision. At this time, we are committed to offering support and assistance to our team affected by the closing,” commented Marigay McKee, President of Saks Fifth Avenue.

Chicago –- True Value Company has selected 360pi to provide competitive pricing intelligence spanning 50,000 branded and unbranded products over hundreds of regional zones. This improved visibility into the competitive landscape will help True Value keep and increase its competitive edge within local markets and drive conversions and revenue.  

New York –- Online lingerie retailer Adore Me has achieved 300% year-over-year growth in revenue while using Dotcom Distribution fulfillment and logistics solutions. Adore Me has leveraged Dotcom’s capabilities to adjust to increasing order volume to promote rapid growth and customer satisfaction.  

Bethesda, Md. -- Washington Property Company (WPC) is bringing the True Food Kitchen restaurant to its latest upscale apartment development, Solaire Bethesda. Upon opening in 2016, Solaire Bethesda’s street-level retail space will be occupied by True Food Kitchen.  

Louisville, Ky. -- GBT Realty Corp., a national real estate development company based in Brentwood, Tenn., is expanding tenant lineups at two Louisville-based regional shopping centers totaling nearly 500,000-sq.-ft. to over 90% leased. Only a combined 23,500-sq.-ft. of retail space remains at Jefferson Commons and at Middletown Commons with the first tenants scheduled to be open in November. Construction is currently underway.  

New York -- Newmark Grubb Knight Frank’s retail team has been retained by the New York Metropolitan Transportation Authority to lead the leasing of Grand Central Terminal.   

Beachwood, Ohio --DDR Corp. and an affiliate of Blackstone Real Estate Partners VII announced that a joint venture formed by the pair has closed on the acquisition of 71 shopping centers previously owned by American Realty Capital Properties for $1.93 billion.

By Chris Donnelly, managing director for retail, Accenture Strategy   What do supermarkets have to gain from a price war? Judging from the battles that have been raging around the world of late, the answer is--nothing. Experience shows that they are truly a “race to the bottom”--aside from the consumer, the only possible winner is the lowest cost provider. Food retailers, however, have options for how to avoid getting drawn into a costly price war.   

Austin, Texas -- Whole Food Market on Monday launched its first national brand campaign, a multichannel advertising initiative. The effort is spearheaded by seasoned marketing veteran Jeannine D’Addario, Whole Foods’ new global VP of communications.