Corporate Governance

New York City -- A retail real estate market report, issued by Savills US retail group, found that, even as recovery remains slow, a few formats are progressing at a faster clip than others.

According to Gerry Mason, head of Savills, the majority of recent and planned retail development is in the grocery-anchored and outlet center category. CBL & Associates and Tanger Outlets are among the most active developers scheduled to break ground in 2012.

Lancaster, Pa. -- One of the supermarket chains operated by Netherlands-based Royal Ahold has installed rooftop solar panels at two of its stores.

Carlisle, Pa.-based Giant Food Stores — also known as Giant-Carlisle to distinguish it from Landover, Md.-based Giant Food, also owned by Ahold — said it had installed solar photovoltaic systems at stores in Lancaster and Pottstown, Pa.

Akron, Ohio -- Sterling Jewelers said Thursday it has named Ed Hrabak, senior VP merchandising, as COO to succeed Bill Montalto, who is retiring from the position in June.

Hrabak has been with Sterling for over 25 years, assuming increasingly greater management responsibility during his tenure.

Sterling also announced that Stuart Lee, VP merchandising, will be promoted to senior VP merchandising upon Hrabak’s promotion to COO.

Dallas -- Venture Commercial said that Party City Corp. has signed three leases in Texas and Oklahoma, with plans to open new stores in Dallas; Edinburg, Texas; and Tulsa, Okla., ranging in size from 12,000 sq. ft. to 12,635 sq. ft.

The Dallas store is in Wheatland Towne Crossing, a Target-anchored shopping center. The Edinburg store is located in The Shoppes at Rio Grande Valley, and the Tulsa store is in the Mingo Marketplace Shopping Center.
 

Tarrytown, N.Y. -- DLC Management Corp. announced that it has named Jonathan Wigser as chief investment officer, charged with leading all of the company’s acquisition and disposition activities.

Since joining DLC in 2002, Wigser has been involved in the acquisition and disposition of more than $1.1 billion of retail real estate, in addition to raising more than $250 million of equity from institutional and high net worth investors.

Pottsville, Pa. -- North Plainfield, N.J.-based Levin Management Corp. announced that Michaels Stores has leased 22,000 sq. ft. at Fairlane Village Mall in Pottsville, Pa.

Levin is the leasing and management agent for the property, which is owned by Ashok Mehra. Michaels’ commitment comes on the heels of a lease by Kohl’s Department Stores, reflecting momentum for the 405,000-sq.-ft. property.

Kohl’s will be opening its new 57,860-sq.-ft. store in early March.

Charleston, W.Va. -- Cleveland-based Forest City Enterprises announced that found new upscale women’s retailers have joined the company’s Charleston Town Center property, located in Charleston, W.Va.

White House | Black Market, Coach, Sephora and Francesca’s Collections will open spring 2012. The center will undergo an expansive renovation, incorporating aesthetic updates to both the interior and exterior of the property.

Chattanooga, Tenn. -- CBL & Associates Properties announced the promotion of Scott Word to VP – asset management.

Word began his career with CBL in 1993 as an accountant. In 1997, he moved into CBL’s Acquisitions Department as a financial analyst and, in 2008, he joined the Asset Management team as director - asset management.

Washington, D.C. -- POS solution-provider POSitive Technology said Thursday that It'Sugar has selected them as their POS partner to implement the Microsoft Dymanics RMS and OpSuite solutions to meet the company’s growth needs.

Candy retailer It'Sugar plans to open as many as 10 new stores in 2012, in addition to continuous updating and refreshing of inventory to keep pace with sales and customer preferences, said the company.

Pittsburgh -- GNC Holdings reported Thursday that net income for the fourth quarter rose to $37.7 million, compared with $18.8 million a year earlier.

Revenue increased 17% to $509.6 million in the quarter; domestic same-store sales rose 12.1%.

In 2012, GNC plans to open approximately 125 net new domestic retail locations, 15 net new domestic franchise locations, 150 net new international franchise locations, and 50 net new GNC-Rite Aid store-within-a-store locations.