Corporate Governance

Peoria, Ill. — Cullinan Properties has announced the appointment of Masood Aini as VP investments in the company’s Chicago office.

With eight years of commercial real estate experience, Aini comes to the firm from Trevi Retail in New York, where he served as director of acquisitions and Leasing responsible for internal leasing efforts and the sourcing, underwriting and valuing of Manhattan retail condominiums and mixed-use assets.

Fort Worth — Market Street – The Woodlands, a mixed-use project north of Houston is welcoming four new tenants. Kate Spade will open a 1,907-sq.-ft. designer fashion store this fall. Also coming this fall are two more clothing stores: a 2,500-sq.-ft. Lucky Brand and a 3,719-sq.-ft. Vineyard Vines.

Just two weeks ago, Tumi opened a travel, business and lifestyle accessories shop.

New York -- Morris-Floyd Capital Partners has acquired the 159,861-sq.-ft. Wolflin Village shopping center in Amarillo, Texas. Anchored by Talbot’s, Office Depot and Shepler’s Boots’n Jeans, the center ranks as Morris-Floyd’s ninth acquisition. CBRE represented the seller, Dunhill Partners, which acquired the property in 2009 from Weingarten Realty Investors www.weingarten.com.

The center is 97% leased

Philadelphia — Distrito, a Garces Group restaurant, has leased a 7,500-sq.-ft. space at the Moorestown Mall in Moorestown, N.J., according to the mall’s owner Pennsylvania Real Estate Investment Trust.

James Beard Award-winning chef and one of only a few chefs in the country designated an Iron Chef, Jose Garces owns and operates more than a dozen restaurants in five states.

By John Rossman, a managing director with Alvarez & Marsal

Pittsburgh – American Eagle Outfitters is lowering its earnings outlook for the second quarter of fiscal 2013 due to what the retailer characterizes as weak sales and margins. The company now forecasts earnings per share (EPS) for the quarter of about $0.10, down significantly from $0.21 in the second quarter of last year.

Mississauga, Ontario – Rexall is launching MyRexall, a new service providing its customers with the ability to view and print their personal medication records online. In addition to viewing their medication record, MyRexall will allow customers the ability to request a refill at their local Rexall, print their medication record for review with a physician or other health care professional and easily transfer prescriptions to their local Rexall pharmacy.

Seattle – Amazon.com founder and CEO Jeff Bezos is purchasing The Washington Post from media holdings firm The Washington Post. Co. for $250 million in cash. He is making the purchase privately and Amazon.com is not involved in the transaction. Bezos will reportedly take the currently public Washington Post private.

Naperville, Ill. – OfficeMax had a generally difficult second quarter of 2013, with declining total and same-store sales and a net loss. The retailer is also predicting more disappointing results for the upcoming two fiscal quarters.

Waban, Mass. – Amazon.com was the top-ranked company across 19 industries in the 2013 Web Experience Ratings from Temkin Group. Amazon.com had a score of 77%, almost 21 percentage points higher than the retail industry average.

Other retailers in the top 10 included eBay, tied for fifth place at 70%, and QVC, tied for eighth place at 69%. Taco Bell and Kmart earned ratings that were at least 15 points below the retail industry average. Old Navy was the only retailer to have a double-digit score increase from last year.