Corporate Governance

West Orange, N.J. — Paul V. Profeta and Associates, a real estate investment firm, has completed the sale of 12 Walgreens properties in nine states to Inland Real Estate Acquisitions. The purchase price was $60 million or more than $330 per square foot.

All of the properties are occupied under long-term 75-year triple-net leases with the Walgreens pharmacy chain. Walgreens has the right to cancel after 25 years.

DULUTH, Ga. — AGCO, a worldwide manufacturer and distributor of agricultural equipment and infrastructure, has appointed Roger Batkin as VP, general counsel. Batkin joined the company in 2000.

Fremont, Calif. -- The Men's Wearhouse Inc.'s fiscal second-quarter earnings fell 28% amid several one-time charges and a shift in quarterly tuxedo rental revenues. Citing macroeconomic challenges, the company lowered its fiscal 2013 guidance.

District of Columbia Mayor Vincent Gray this week vetoed one of the most wrong-headed regulations ever proposed and the nation’s two leading retail trade groups were quick to praise the action.

Framingham, Mass. -- Staples plans to open a dedicated to e-commerce and engineering center in Seattle that will house teams responsible for driving major initiatives to enhance areas, including next generation digital platforms, personalization, and big-data. It will be the chain’s first office on the West Coast.

Lululemon Athletica seems to be putting the recall of its see-through yoga pants earlier this year behind it. The company reported net revenue of $344.5 million for the second quarter ended Aug. 4, a 22% increase from $282.6 million in the prior-year quarter. Comparable stores sales for the quarter increased by 8%.

New York -- In separate announcements on Thursday, Bi-Lo Holdings and Harris Teeter on Thursday announced plans to acquire select Piggly Wiggly-branded stores.

Bi-Lo said it has entered into a definitive agreement with Piggly Wiggly Carolina Company to acquire 22 Piggly Wiggly stores in South Carolina and coastal Georgia.  

Financial terms of the transaction were not disclosed.

New York -- On their recent earnings (second quarter) call with analysts, Coldwater Creek CEO Jill Brown Dean and CFO/COO James Bell talked technology, specifically discussing the results of the company’s implementation of the new Oracle-based inventory planning system.

The implementation was competed in March 2013, Bell noted. He added that while the company had, in recent years, developed many inventory management disciplines, it was lacking adequate tools to fully maximize its inventory investment.