Corporate Governance

New York -- Winick Realty Group said Tuesday it has been appointed the exclusive broker for Desi Shack, a fast-casual South Asian restaurant concept with one current location in Midtown East.

Desi Shack plans to open two more locations within the next 12 months, seeking sites measuring 600 sq. ft. to 1,500 sq. ft. in the Financial District, Midtown East, Midtown West, Flatiron, Union Square, the Upper East Side and the Upper West Side of Manhattan.

Fort Worth, Texas -- Trademark Property Co. said Tuesday that Dick’s Sporting Goods and Corner Bakery Café will open this year at The Shops at La Palmera in Corpus Christi, Texas. The 61,233-sq.-ft. Dick’s store will anchor the 200,000-sq.-ft. redeveloped and rebranded center, located across from La Palmera mall. Construction on Dick’s is set to begin in February with opening slated for fall 2013.

Scheduled to open in May is a 4,166-sq.-ft. Corner Bakery Café, adding to its 140 locations across the country.

By Jeff Weidauer, [email protected]

Roseville, Calif. -- Family Dollar Stores is renewing its software contract with Revionics, which provides end-to-end merchandise optimization solutions, the supplier announced. The multi-year agreement will extend the retailer’s services with Revionics’ price optimization solutions, with Family Dollar leveraging Revionics’ solutions in each of its more than 7,600 stores in 45 states.

New York -- Fidelity, the Boston-based investment firm, has bought a 10% stake in C. Wonder, according to Women’s Wear Daily. Founded by Christopher Burch in 2011, the company has since expanded to 10 locations and also operates pop-up stores.

Burch has big plans for C.Wonder, which sells a mix of apparel, accessories and home goods, all under its own label. According to previous reports, he plans to expand it to 50 to 100 stores by the end of 2014, including locations abroad.

Arlington, Va. -- The passage of comprehensive tax reform and a more level playing field between online retailers and Main Street retailers for sales tax collection top the Retail Industry Leaders Association’s public policy priorities for 2013.

According to RILA, the retail industry pays among the highest domestic effective tax rates at 36.4% more than 10 percentage points higher than the average for all other industries.

Canton, Mass. -- Dunkin’ Donuts announced the signing of multi-unit store development agreements with two franchise groups to develop 11 restaurants throughout New Orleans.

The two franchise groups and their development plans include:

New York -- J.C. Penney Co. filed a lawsuit on Monday asking a Delaware judge to declare that it is not in a default of its bond agreements, protecting nearly $3 billion of debt from being due in the coming months, Reuters reported.

According to the report, J.C. Penney received a letter earlier on Monday from the Brown Rudnick law firm that said J.C. Penney had breached a covenant of a bond indenture agreement by granting a lien on its inventory. J.C. Penney filed the lawsuit after receiving the letter.     

EL SEGUNDO, Calif. — Mattel reported a fourth-quarter net sales increase of 5% to $2.26 billion from $2.15 billion for the same period last year.

For the fourth quarter, the company reported net income of $306.5 million, or 87 cents per share, compared with last year's fourth quarter net income of $370.6 million, or $1.07 per share. 

ATLANTA — Newell Rubbermaid reported that net sales in the fourth quarter were $1.52 billion, an increase of 1.6% compared with the prior year. Sales growth was largely attributable to the tools, baby and parenting and writing segments and to robust growth in Latin America, the company said.