Corporate Governance

Elgin, Ill. – Oak Brook, Ill.- based Inland Real Estate Acquisitions has announced the acquisition of South Elgin Commons, a 128,000-sq.-ft. shopping center in Elgin, Ill., for approximately $25 million.

The property was 100% leased at closing and is anchored by Ross Dress for Less, Toys “R” Us and LA Fitness.

ALBANY, N.Y. — Trans World Entertainment has named John Anderson acting CFO, effective immediately. Anderson has served in positions of increasing responsibility at Trans World for over 18 years, most recently serving as controller since September 2006. Anderson will be replacing Tom Seaver who will be leaving the company to pursue other opportunities after a short transition period.

ROCKFORD, Mich. — Wolverine Worldwide reported slight revenue growth as it looks to build its portfolio with the acquisition of the Performance and Lifestyle Group from Collective Brands.

Wolverine Worldwide reported quarterly revenue of $312.7 million, an increase of 0.8% compared with the prior year's second quarter when revenue grew over 20%. 

Reported diluted earnings per share in the quarter were 42 cents, compared with prior year's earnings per share of 48 cents.

MINNEAPOLIS and DALLAS — Target and Neiman Marcus have joined forces for a unique partnership that will bring a limited-edition holiday collection to both stores beginning Dec. 1. The collection will also be available online at Target.com and NeimanMarcus.com.

RALEIGH, N.C. — Kerr Drug has promoted Mark Gregory to SVP store operations, effectively immediately, the regional retail pharmacy chain said Monday.

Gregory, who was previously VP pharmacy and government affairs, will report directly to president and CEO Anthony Civello. He also is the company's privacy officer and chairman of its political action committee.

STRATHAM, N.H. — Premium Swiss chocolatier Lindt & Sprungli USA announces a partnership with The Culinary Institute of America (CIA). Through the partnership, Lindt will collaborate with the next generation of culinary experts in a student contest searching for innovative dark chocolate bar recipes, sponsor CIA Boot Camp sessions, including several lectures and demonstrations with a Lindt Master Chocolatier, and donate premium chocolate products for use in CIA classrooms. 

SEATTLE — Recreational Equipment Inc. is making its Kansas debut with its first store set to open in Overland Park in the fall of 2013.

PADUA, Italy — Hugo Boss Group and Safilo Group, premium eyewear manufacturer, hav agreed to an early renewal of their license deal with a term until 2020 for the design, production and worldwide distribution of Boss Black, Boss Orange and Hugo frames and sunglass collections.

BOCA RATON, Fla. — Office Depot has been named to the Environmental Protection Agency’s (EPA) list of 2012 Energy Star Leaders for Leadership in Reducing Greenhouse Gas Emissions.

In the baseline year of 2004, Office Depot facilities emitted 381,689 metric tons of carbon dioxide. By 2011, the carbon footprint of Office Depot’s facilities was 239,319 metric tons -- a reduction of over 140,000 metric tons, or 37 percent over the seven year period.

PLANO, Texas — JCPenney is cutting approximately 350 positions at its headquarters as part of its plan to restructure the company.