Corporate Governance

Dallas -- Cypress Equities Real Estate Investment Management has announced the acquisition of Lloyd Center in Portland, Ore. The enclosed, three-level 1,478,000-sq.-ft. regional shopping center is located near downtown close to the Convention Center, Rose Garden Arena and Memorial Coliseum.

Glenview, Ill. -- Eco Gym will open an 8,300-sq.-ft. solar- and human-powered health club at Glenbrook Market Place in Glenview, Ill., a North Shore suburb of Chicago, according to Mid-America Asset Management Inc., the landlord’s representative.

The fitness center, Eco Gym’s second, will use a combination of human kinetic power and solar power to generate electricity for its equipment. As members use the equipment, they generate more power to the central power grid, which lowers monthly dues.

Plans to acquire at least 60 stores from bankrupt Orchard Supply Hardware give Lowe’s an increased presence in California and a new small format with expansion potential.

Lowe’s said early Monday that it had entered into an asset purchase agreement with Orchard, which had filed for Chapter 11 bankruptcy, to acquire the majority of Orchard’s assets for approximately $205 million in cash and assume payables owed to nearly all of Orchard’s supplier partners.

ROANOKE, Va. — Advance Auto Parts has promoted Jon Dehne to SVP of market availability, inventory management and merchandise operations. 

ATLANTA — Newell Rubbermaid has appointed Jeremy Liebowitz as the company’s VP of global e-commerce, a newly created position. The company will look to Liebowitz to lead the acceleration of its online revenue growth worldwide.

NEW YORK — Cosmetic brand Clinique has promoted Jean-Christophe Jourde to the newly created position of SVP and GM of North America. Jourde will be responsible for driving sales and market share growth for the brand in the region and will report to Ricardo Quintero, SVP and global GM of market development. 

WAYNE, N.J. — Lingering cold weather and soft sales in its electronics and entertainment categories caused Toys”R”Us’ net and comparable store sales for first quarter ended May 4 to dip. 

The company reported net sales of $2.4 billion, a decrease of nearly 8% from $2.6 billion for the quarter a year ago. The decline in net sales for the quarter was primarily attributable to a decrease in comparable store net sales, as well as a foreign currency translation impact of $67 million. 

NEW YORK — As part of its American Icons campaign, Macy’s will celebrate the 80th anniversary of the drive-in theater by providing customers with a free showing of “The Smurfs” in pop-up drive-ins at select Macy’s stores and existing drive-in theaters nationwide.

Home Depot has plans for a major hurricane preparedness initiative this year, but the program doesn’t begin until nearly two months after residents of storm prone areas should already have plans in place.

Hasbro will be developing toys and physical games based on the globally popular Angry Birds brand as part of its expanded licensing agreement with Rovio Entertainment. 

Hasbro will develop the upcoming game Angry Birds Go!, scheduled to release this year, and will continue to develop and expand the collaboration with Angry Birds Star Wars from Rovio Entertainment and LucasFilm.