Corporate Governance

Northbrook, Ill. — Pine Tree Commercial Realty has acquired two shopping centers, one in Nevada and the other in Missouri. The developer has also broken ground on four properties, two in Illinois, one in Idaho, and one in California.

The activity brings Pine Tree’s current portfolio to 3.2 million sq. ft. in 24 properties.

Sunnyvale, Calif. – Yahoo recently identified a coordinated effort to gain unauthorized access to Yahoo Mail accounts. In a Tumblr blog post signed by Jay Rossiter, senior VP, Platforms and Personalization Products of Yahoo, the company said that upon discovery, it took immediate action to protect users, prompting them to reset passwords on impacted accounts.

Dallas – Tuesday Morning reported net income for the second quarter of fiscal 2014 of $17.7 million, compared to a net loss of $21.5 million in the same period last year. The company's net sales were $285.8 million, essentially flat with $285.3 million for the second quarter of fiscal 2013.

Boston – Wayfair reported $915 million in revenue to close the year 2013, with an annual revenue growth rate of 55% and order intake exceeding $1 billion. The company said its portfolio of home brands experienced steady growth throughout 2013 capped off by strong holiday sales in the fourth quarter.

New Albany, Ohio – Abercrombie & Fitch is launching a spring 2014 marketing campaign that includes omni-channel features such as live Twitter Q&A sessions with celebrities. The campaign, “The Making of a Star,” spotlights a select group of rising actors and musicians.

New Albany, Ohio -- Abercrombie & Fitch Co. has promoted Jonathan E. Ramsden, currently the company's executive VP and CFO, to the position of COO, a new role at the company. Ramsden will continue to serve as CFO, in addition to his COO role, until a new CFO is appointed.

Canton, Mass. -- Dennis Hernreich, executive VP, COO and CFO of Destination XL Group Inc., has resigned to pursue new challenges and board member John E. Kyees has been named interim CFO. In addition, the company has elected Will Mesdag, 60, to its board of directors.

Kyees, who has served on the Destination XL board of directors since 2010, was CFO of Urban Outfitters from 2003 until his retirement in 2010, and has served as a senior financial executive at several other prominent retailers. The company is conducting a search for a permanent CFO.

Chicago – Mercury Payment Systems plans to have its day in court against Heartland Payment Systems. Mercury has indicated it will contest the federal lawsuit Heartland Payment Systems filed, charging the company with false advertising, unfair competition, intentional interference with contractual relations, and intentional interference with prospective economic advantage. The suit, filed in U.S.

Costa Mesa, Calif. – Anna’s Linens has named company president Scott Gladstone CEO. Founder and former CEO Alan Gladstone will remain as chairman of the board.

Gladstone, 44, joined Anna’s Linens in 2005 and was named president of the company in 2012. Prior to joining Anna’s, Gladstone spent 10 years as president of the U.S. division of Sparco, a global manufacturer of automotive performance products and safety equipment.

Minneapolis – A Target representative reportedly offered few new details during a phone briefing with members of Congress about its holiday data breach. According to Reuters, Target official Isaac Reyes spent about an hour on the phone with members of the House of Representatives Oversight Committee on the evening of Jan. 30.