Corporate Governance

Sweetwater, Fla. -- Ikea will open its first store in the Miami-Dade region of Florida on Aug. 27.

Ikea Miami is the home furnishings company’s fourth store in Florida, 39th in the United States, and 361st worldwide. The 416,000-sq.-ft. Ikea Miami features the largest rooftop solar array in South Florida.

New York -- Chain Store Age is conducting its 10th annual survey of the Top Redevelopers in the United States. Survey results, which measure renovated and redeveloped projects completed within the last 12 months (June 30, 2013 to June 30, 2014), will appear in the November 2014 issue of Chain Store Age.

Deadline for submission is September 15, 2014. To enter, click here.

Salisbury, N.C. -- Delhaize America banner Food Lion has unveiled a new shopping experience for customers in 31 stores in the greater Wilmington, North Carolina, market, and has announced plans to remodel 45 stores in Greenville as part of the grocery’s "Easy, Fresh and Affordable…You Can Count on Food Lion Every Day" strategy.

New York -- Seiko Corporation of America, a subsidiary of Seiko Watch Corporation, announced the grand opening of its first Seiko boutique to enter the United States at 510 Madison Avenue in New York City.  

The New York Seiko boutique is primarily dedicated to Seiko's collections, but also features boutique exclusives.

Philadelphia — Pennsylvania Real Estate Investment Trust has entered into an agreement to sell an anchor pad underlying a Bon-Ton store in Bethlehem, Pennsylvania, contiguous to Westgate Mall.

The transaction is expected to close prior to the end of 2014.

Birmingham, Alabama — Charles McNamee has joined Bayer Properties as senior VP of development and construction. McNamee most recently served as senior VP of commercial development and construction with Colonial Properties Trust.

In his position with Bayer, McNamee will be responsible for all aspects of development and construction, including oversight of both the Development and Tenant Coordination and Construction Departments.

Tampa, Florida — RMC Property Group has been awarded the exclusive leasing and management assignment for The Promenade, located at 10330 North Dale Mabry Highway in Tampa.

The Promenade is a 29,984-sq.-ft. mixed-use property with 19,549 sq. ft. of ground floor retail and 10,435 sq. ft. of professional and office space on the second floor. Anchor tenants include International Diamond Center and Phoenix Home Care.

Los Angeles — Juanita Tate Marketplace is now open, bringing 77,096 sq. ft. of outdoor retail space with a full-service grocery to the highly underserved surrounding community. Located at 944 East Slauson Avenue in South Los Angeles, the $21-million development is situated on a 6.5-acre site, which was formerly used as a scrap-metal plant.

Construction began in May 2013 and completed in April 2014. The center is owned by Regency Centers and was designed by Nadel.

Pittsburgh -- American Eagle's second-quarter net income was down 70% amid weak sales. But its results were better than analysts estimates.

For the period ended Aug. 2, American Eagle Outfitters Inc. earned $5.8 million, down from $19.6 million a year earlier.

Revenue decreased 2% to $710.6 million from $727.3 million, topping estimates of $689.5 million. Same-store sales fell 7%.

New York -- Macy's Inc. has agreed to pay $650,000 to settle allegations of racial profiling at its flagship store in Manhattan.

Under the agreement with New York's attorney general, the company will initiate enhanced training and education for its loss prevention and sales associates.

“We also will be adopting an expanded role for our security monitor to help ensure that we have the right policies and procedures in place, and that we are constantly reviewing our compliance with them,” the retailer said in a statement.