Corporate Governance

Chattanooga, Tenn. — CBL & Associates Properties has announced future redevelopment and replacement plans for J.C. Penney anchor locations in the CBL portfolio that are expected to close this year.

J.C. Penney intends to close four locations in the CBL portfolio. They include stores at Hickory Point Mall in Forsyth, Ill., Janesville Mall in Janesville, Wis., Wausau Center in Wausau, Wis., and Northgate Mall in Chattanooga, Tenn. CBL anticipates the closures to occur in the second quarter of this year.

By Tom Stockham, [email protected]

Remember the days when stores differentiated themselves against the competition on service? When consumers sought out expert product recommendations from knowledgeable sales associates? And bought from the one who worked hardest to help them find just the right product for their needs?

Purchase, N.Y. — National Realty & Development Corp. (www.nrdc.com) has promoted Dovid M. Spector and Greg A. Oshins have been promoted to the executive team.

Spector has been promoted to senior VP, leasing. He began his career with NRDC in 2002 as a leasing representative and served as Director of Retail Leasing for the pat six years. Prior to joining NRDC, Spector worked in the Real Estate Business Development division of Morgan Stanley.

Matthews, N.C. – The board of directors has increased the amount of the regular quarterly dividend payment to $0.31 per share, an increase of 19.2% from the preceding quarterly cash dividend of $0.26 per share. The increase will be effective with the declaration of the next quarterly dividend.

The Container Store has kicked off a new purpose-driven marketing campaign focused on its values-based approach to business and conscious capitalism with full-page national newspaper ads as well as videos on the company’s new YouTube Channel.

St. Louis – Build-A-Bear Workshop, Inc. reported declining year-over-year revenues for the fourth quarter and fiscal year 2013 in a partial preliminary earnings release.

On a preliminary basis, Build-A-Bear reported total fourth quarter revenues of $107 million, down 9% from $118.2 million in the same period a year earlier. Preliminary fiscal year revenues were down slightly to $378 million from $380.2 million.

Seattle – The Starbucks mobile app reportedly stores customer passwords in a way that leaves them vulnerable to hackers. According to CNN, the app, which allows mobile payment, stores passwords in plain text, meaning a hacker could gain access to one without knowing a smartphone’s PIN code.

Coty has announced that Brian Falcone will serve as SVP sales, overseeing all sales activities for Coty Beauty U.S. mass brands.

Falcone will be responsible for field sales, customer marketing, category management, wall strategy and fixture planning.