Corporate Governance

Oak Brook, Ill. — Inland Real Estate Corporation has announced the acquisition of Mokena Marketplace in Mokena, Ill., an affluent suburb located within the Chicago metropolitan area for $13.7 million in cash.

By Mike Rozembajgier, VP, Stericycle

Hazardous waste management for retailers and retail pharmacies has entered a critical new phase that may change the rules governing what is considered waste and how to properly dispose of it.

Talk of nearshoring and a resurgent U.S. manufacturing sector weren’t enough to help the Stanley Furniture Company avoid shuttering a domestic manufacturing plant that employs 400 people.

Following steep losses last year, Stanley said it would close its 562,000-sq.-ft. facility in Robbinsville, NC., where ironically enough the company’s Young America line of Juvenile furniture was manufactured.

Robert M. Long, former president, CEO and chairman of Longs Drug Stores passed away March 27 due to complications, which occurred as a result of inclusion body myositis.  

Long was a well-known industry veteran having led Longs Drug Stores for more than 20 years. His retirement from the Walnut Creek, Calif.-based pharmacy retailer as CEO in 2000 marked the first time that a member of the founding family was not heading the company.

After a strong start to the holiday season, harsh weather took a toll on Jos. A. Bank which reported solid profit growth and a 1.8% same store sales increase during what is likely to be one of the company’s final earnings reports as a public company.

Premium denim brand True Religion named former top executives from Levi Strauss & Co., and Gap inc., to its board of directors.

The purveyor of premium products said John Anderson and Marka Hansen agreed to serve on its board. Anderson spent 32 years at Levi Strauss & Co, ultimately serving as president and CEO while Hansen previously spent 24 years at Gap and most recently served as president of Gap North America.

Labeed Diab has been named SVP and president of health and wellness at Walmart, filling a position previously held by Dr. John Agwunobi who left the company.

The Nordstrom’s Customer Experience Center is a replica of a store where the department store operator can bring together salespeople, suppliers and customers to share feedback on new concepts before they are introduced to stores.

Arysta LifeScience president and CEO Wayne Hewett will stand for election to The Home Depot’s board of directors when current director Bonnie Hill steps down.

New York -- Two U.S. banks have dropped their lawsuit against Target Corp. and its credit card security assessor, Trustwave Holdings Inc. The banks had accused Target and Trustwave of failing to properly secure customer data, leading to the retailer’s data breach during last year’s holiday season.