Corporate Governance

Rio de Janeiro, Brazil -- Indianapolis-based Simon Property Group and Latin American retail real estate company BR Malls Participacoes S.A. announced Tuesday that they signed a 50/50 joint venture agreement to develop and own outlet centers in Brazil.

The first outlet center of the joint venture is slated to open in Sao Paulo in 2013.
 

Minneapolis -- Supervalu Inc. reported Tuesday that it swung to a loss of $424 million in the quarter ended Feb. 25, compared with a $95 million gain a year earlier. Results were negatively impacted by charges related to store closures and employee layoffs, but still beat Wall Street expectations.

FRAMINGHAM, Mass. — Staples has awarded five small businesses $50,000 in free advertising and cash as part of the “Give Your Small Business the Push It Needs” contest. 

Selected from hundreds of video entries submitted on Staples’ Facebook page (facebook.com/staples), each of the five small businesses will receive a total of $50,000 in local cable television advertising and cash in their home markets.

The winners include:

CONSHOHOCKEN, Pa. — Ikea, in partnership with American Forests, has planted 2 million trees across America through its Plant A Tree program.

Ikea launced the national in-store ‘Plant A Tree’ program in 1998 and since that time has raised $2 million through customer contributions and its own donations to plant the trees. During the month of April, Ikea Family ‘loyalty’ card member usage will also support Ikea in its donations to plant more trees through American Forests.

CONSHOHOCKEN, Pa. — Ikea, in partnership with American Forests, has planted 2 million trees across America through its Plant A Tree program.

Ikea launced the national in-store ‘Plant A Tree’ program in 1998 and since that time has raised $2 million through customer contributions and its own donations to plant the trees. During the month of April, Ikea Family ‘loyalty’ card member usage will also support Ikea in its donations to plant more trees through American Forests.

ATLANTA — An organized retail theft ring that targeted 70 Home Depot stores in six states has been taken down by multi-agency task force after the arrest of three men in New Jersey, New York, and Pennsylvania. Two other suspects are still be sought. 

WOONSOCKET, R.I. — CVS Caremark has confirmed that Stuart McGuigan, SVP and CIO, will be leaving the company April 13.

CVS Caremark has initiated a search for his replacement, according to a company spokesperson.

McGuigan has served as SVP and CIO since December 2008. Before that, McGuigan was SVP and CIO of Liberty Mutual Group from September 2004 to December 2008, and was deputy CIO and SVP of Liberty Mutual from February 2004 to September 2004. From 2000 to February 2004, he was SVP information technology at Medco Health Solutions.

GREENVILLE, S.C. — Bi-Lo noted last week that three of its locations along the South Carolina coastline had been refreshed in March.

“Bi-Lo believes in offering our customers the highest possible standards and this remodel program speaks directly to that,” stated Bi-Lo president Michael Byars.

The enhanced departments in the updated stores feature improved freshness, variety and quality, including:

NASHVILLE, Tenn. — The Walmart Foundation has joined with The Band Perry, Kimberly Williams-Paisley and four of the nation's largest food companies — General Mills, ConAgra Foods, Kraft Foods and Kellogg Company — to fight hunger this spring. At an event in Nashville, leaders of this effort launched a campaign that will enable millions of Americans the opportunity to get involved by shopping at Walmart or visiting the company's Facebook page today through April 30.

MATTHEWS, N.C. — Family Dollar Stores has named Jon Broz to the position of VP and assistant general counsel, litigation. Broz will report to James Snyder, Jr., SVP general counsel and secretary.

“We are excited to have someone with Jon’s breadth of retail litigation experience join our team,” said Snyder. “Jon has a strong reputation for working closely with his clients and seeking creative solutions to resolve disputes quickly and cost effectively.”