Corporate Governance

Westboro, Mass. -- MICROS-Retail, a division of Micros Systems, announced BJ's Wholesale's successful launch of Micros-Retail's next generation loss prevention and business analytics solution, XBR Ingenium.
   
As an existing user of MICROS-Retail's XBR, BJ's launched a pilot of XBR Ingenium.  After a successful program, BJ's is now deploying Micros-Retail XBR Ingenium company-wide, seeking to increase the investigative capabilities and productivity of its asset protection team.

New York – In what could be bad news for retailers, “mass affluent” consumers (those with $50,000 to $250,000 in investable assets) and Gen Y (age 18-34) are cutting back on spending to save for retirement. According to the Spring 2013 Merrill Edge Report, the average mass affluent investor expects to save $860,000 for retirement but has only saved $150,000. If given an extra $1,000 per month, 50% of mass affluent consumers would put it toward savings or paying down debt.

Seattle -- Based on the success of its recent entries into the Indian and Vietnamese markets, Starbucks Coffee Company plans to enter the Southeast Asian nation of Myanmar within the next couple of years. Starbucks, which opened its first Vietnam outlet in February and started doing business in India last year, also plans to double its store count in Thailand to about 320 in the next five years.

Political and economic reforms in Myanmar have resulted in the European Union dropping sanctions against the country and the United States easing them.

Brisbane, Calif. -- Veteran entrepreneur and executive Narry Singh has been named to the board of directors of Bebe Stores.

Singh, who holds more than 20 years of business experience with a focus on digital entertainment, new media, software and e-commerce, was most recently chief executive of mobile entertainment provider Outfit7.
 

New York -- Toys "R" Us has appointed Antonio Urcelay, 61, the head of its European operations, as interim CEO, according to a filing the retailer made on Monday with the Securities and Exchange commission, The Record reported.

Urcelay replaces Gerald Storch, who announced in February that he would be stepping. At the time, Storch said he would remain as CEO during the transition. While his role as chief executive ended Sunday, he continues to serve as chairman of the board.

Washington, D.C. -- Total retail sales increased 0.1% in April from March, according to figures released Monday by the U.S. Commerce Department. The increase, an improvement from a 0.5% decline in March, beat the 0.3% drop economists had predicted in a Bloomberg survey.  

Excluding automobiles, gas stations and restaurants, sales  increased 0.6% seasonally adjusted from last month and increased 3.9% unadjusted year-over-year, according to the National Retail Federation.

Slidell, La. -- Dillard’s will anchor the fashion-oriented Phase II of Fremaux Town Center in Slidell, La., according to co-developers CBL & Associates Properties, based in Chattanooga, Tenn., and Stirling Properties out of Covington, La. Phase I of the project is currently under construction with approximately 330,000 sq. ft. anchored by Kohl’s, Dick’s Sporting Goods, Michael’s, T.J. Maxx, and Best Buy. Phase II will include up to 320,000 sq. ft. of additional retail space.

Boston -- A landmark project in Boston’s Downtown Crossing has launched leasing. Millennium Partners has appointed Cushman & Wakefield as the exclusive retail leasing agent for its Millennium Tower/Burnham Building project, which is the site of the former Filene’s Department Store and consists of the landmark 1912 Burnham Building and a contemporary, mixed-use tower that will rise 625 ft. into the Boston skyline.  

Beachwood, Ohio -- DDR Corp. announced a strategic agreement with MobileBits Holdings Corp., provider of SAMY, a mobile marketing and engagement platform, to acquire DDR's proprietary location-based mobile marketing solution ValuText.

MobileBits will integrate the ValuText product into the SAMY solution and will make the solution available to DDR tenants and shopping centers. SAMY is an innovative 'mobile mall' application that allows shoppers to gain instant access to the latest discounts, coupons and loyalty cards, via their mobile devices.

Foxborough, Mass. -- Charter Realty & Development said that it has signed a lease with consignment boutique Chic 2 Chic at the Foxborough Plaza, a 118,844-sq.-ft. shopping center in Foxborough, Mass.

The 22,000-sq.-ft. store is a relocation from downtown Foxborough and is the company’s only current store in the state.

The Foxborough Plaza, owned and managed by WP Realty, is almost 100% occupied, anchored by Ocean State Job Lot, and also featuring Dollar Tree, Dunkin Donuts and Xtreme Fitness.