Corporate Governance

Boca Raton, Fla. -- Indianapolis-based Simon Property Group said that Brian Nelson has been named general manager of Town Center at Boca Raton, located in Boca Raton, Fla.

Nelson will be responsible for mall operations, tenant relations, leasing, marketing, business development, security and customer service.

Nelson was previously the Indianapolis-based area manager for Greenwood Park Mall, Washington Square Mall and four community centers operated by Simon Property Group.

He has been with Simon Property Group since 2000.

Hoffman Estates, Ill. -- Sears Holdings Corp. said Tuesday that it will close between 100 and 120 underperforming Sears and Kmart stores, following dismal holiday sales results for the brands.

The company said it has not yet identified which stores will be shuttered, but said that the closures are part of an overall plan to shift its focus from shoring up underperformers to concentrating its efforts on stronger stores.

Bellport, N.Y. -- Perfume and fragrance retailer Perfumania Holdings Inc. announced Friday that it will acquire Parlux Fragrances Inc. in a deal valued at $170 million.

Parlux, based in Ft. Lauderdale, Fla., manufactures and distributes fragrances and beauty products, and is one of Perfumania's largest trading partners.

"Parlux brings a wealth of products and expertise as a licensee, manufacturer and international distributor," said Mike Katz, CEO, Perfumania. 

In cultural commentary about the American economy, one company at a time always seems to be the goat. Everything it does is interpreted as evil, according to a recent column by Bloomberg’s Michael Kinsley.

Walmart’s online business may have gained ground this holiday season, but Amazon.com doesn’t plan to cede its leadership position, and this week announced plans for two new distribution facilities.

There were no new surprises during November regarding prices at Walmart, but then that is to be expected. The everyday low price strategy to which Walmart has a newfound adherence is boring and that’s the way the company and presumably its customers like it.

Enfamil Newborn baby formula was quickly pulled from shelves at 3,000 Walmart stores earlier this week following the death of an infant in Missouri, the Associated Press reported.

Walmart and the Walmart Foundation give away so much money it is hard to keep track of it all and this was certainly evident during the holiday season.

On Thursday, the company announced another round of grants totaling $200,000 to 10 nonprofits groups as part of its “12 Days of Giving” Facebook campaign. Those grants mark the culmination of an innovating corporate giving campaign that integrated social media and resulted in a total of $1.5 million being awarded to 145 organizations in all 50 states, Washington, D.C. and Puerto Rico.

Stein Mart released restated third-quarter results Friday that showed an upwardly revised loss that wasn’t quite as bad as originally feared.

Kate Berg has been name president of Collective Bias, the rapidly growing social shopper marketing firm based in Bentonville, Ark. Berg will focus on organizational development at the firm which has grown to more than 30 employees in the roughly two years since it was founded and split her time between Bentonville and New York where an expanding roster of clients include Meredith Corp. and the Duane Reade drug chain.