Corporate Governance

Los Angeles -- CBRE Group Inc. has made two research appointments.

First, Nick Axford, Ph.D., will move up to Global Head of Research, a new position, from CBRE’s Asia Pacific business unit. He will manage global research efforts, establish strategies that support CBRE objectives and serve as a resource for clients on global commercial real estate trends.

In addition, Raymond Torto, Ph.D. will become global chairman of CBRE Research. He will analyze market trends for clients.

Evansville, Ind. -- Value-priced footwear retailer Shoe Carnival will grand-open 12 stores in 11 different cities in July, bringing its store count to 367 stores in 32 states and Puerto Rico.

“We are excited to be growing rapidly across the country,” said Todd Beurman, senior VP marketing. New stores will open in: Cedar Rapids, Iowa; Charlotte, N.C.; Chicago; Lansing, Mich.; St. Louis; Greenville, N.C.; Cincinnati; Atlanta; Phoenix; Louisville, Ky.; and Grand Rapids, Mich.
 

WASHINGTON, D.C. — The Grocery Manufacturers Association has appointed Jim Flannery as the company’s senior EVP, operations and industry affairs.

“I am pleased that Jim Flannery is joining the GMA team,” said Pamela G. Bailey, GMA president and CEO. “Given his life-long experience and success in the consumer packaged goods industry, and his in-depth knowledge of so many of the important issues GMA manages on behalf of its members, no one is better positioned than him to advance GMA’s member-driven agenda.”

San Diego -- Warehouse club operator PriceSmart reported Thursday that profit for the quarter ended May 31 rose 18% to $18.5 million, compared with $15.7 million in the year-ago period but missing Wall Street estimates.

Revenue rose 13% to $571.7 million, beating analysts’ expected $568.6 million in sales. Same-store sales rose 9.7%.

New York -- U.S. retailers' June sales suggest overall consumer spending is improving, even though lower-end shoppers are holding back on nonessential purchases. Same-store sales increased 3.9% in June compared to the year-ago period, according to a preliminary tally of 12 retailers by the International Council of Shopping Centers. The association had expected a 3% to 3.5% increase.

SAN FRANCISCO, Calif. — Specialty beauty retailer Sephora is turning to Duncan/Channon to design the website for its new Marc Jacobs Beauty collection. The site goes live Aug. 9, following the launch of a teaser site, likewise designed by Duncan/Channon.

New York -- Bloomberg reported that Best Buy Co. has increased the size of its first bond offering since 2011 from $350 million to $500 million as it prepares to repay an equal amount of notes due July 15.

According to the report, who cited an unidentified source, the five-year securities may yield 5%; proceeds may be used to refinance debt, fund working capital or repurchase stock.

MEMPHIS, Tenn. — Fred's Super Dollar reported $187.7 million in sales for the five weeks ended July 6, up 3% as compared to the same period a year ago. Comparable store sales for the month increased 4.5%.