Corporate Governance

Houston – The Mansour Group has arranged the sale of the 99% leased, 223,223-sq.-ft. Almeda Crossing Power Center located in Houston, for more than $30 million. The seller was a Texas-based developer and The Mansour Group was able to deliver the property to a national REIT.

The center is leased to an array of national tenants including Ross, Marshall’s, Staples, PetSmart, Conn’s, Party City, Show Carnival, Dollar Tree, Anna’s Linens, Aaron’s and many others and is shadow anchored by a Walmart supercenter.

Atlanta - Overall retail spending growth in August 2014 was the strongest in more than a year. According to the First Data SpendTrend report, retail dollar volume growth reached 2.8% in August (compared to 2.6% in July), as back-to-school shopping propelled spending growth in several retail categories. (SpendTrend tracks same-store point-of-sale data by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks from nearly 4 million merchants locations serviced by First Data in the United States.)

IBM and Apple announced a strategic partnership earlier this year that promises to transform enterprise mobility through a new class of business apps. The companies plan to leverage their respective strengths in technology, business intelligence and user experience to create solutions that address some of the retail industry’s most pressing challenges. To better understand what that means, Retailing Today spoke with Jill Puleri, VP and global retail industry leader for IBM Global Business Services.

New York -- Fitch Ratings on Friday downgraded RadioShack's credit rating. On Thursday, the struggling retailer warned it may need to file for Chapter 11 bankruptcy protection.

Fitch cut RadioShack's issuer default rating from "C'' from "CC," which puts the chain’s credit rating one level above default.

Global luxury lifestyle brand Michael Kors has named Pascale Meyran as SVP, chief human resources officer, a newly created position. She will report to John D. Idol, the company’s chairman and CEO.

Meyran will oversee the creation of a best in class global human resources department, with a focus on a robust learning and talent development program.

The Hain Celestial Group, a leading organic and natural products company, and NBA center for the Dallas Mavericks Tyson Chandler have teamed up to digitally publish Tyson's Pro Tips, an insider's guide to improve athletic performance.

Written for young athletes, their coaches, parents and caregivers, the 21 pro tips in Tyson's Pro Tips offer nutrition, fitness and personal care advice designed to help established players and emerging stars achieve their goals in a healthy and positive way, the brand said.

Bolingbrook, Ill. – Ulta Beauty on Friday posted second-quarter net income that jumped 35%, easily beating Wall Street's expectations. The company also raised its full-year outlook, and announced a five-year strategic plan that includes opening some 100 stores annually.

Ulta’s net income for the quarter ended Aug. 2 increased to $60.8 million, from $44.9 million a year earlier. Net sales increased 22.2% to $734.2 million from $601 million last year, also topping expectations.

Beachwood, Ohio -- DDR Corp. announced that CEO Daniel B. Hurwitz will be leaving the company next year, as he and the board agreed not to renew his employment agreement, which expires December 31, 2015.

According to DDR, Hurwitz is expected to remain CEO through 2015 to facilitate a smooth leadership transition.

Hurwitz was named CEO on January 1, 2010, after serving as the company’s president and COO for two years prior. He has worked for DDR in various senior executive capacities since June 1999.