Corporate Governance

Beachwood, Ohio -- DDR Corp. announced an agreement to acquire a portfolio of prime power centers from its existing joint venture with Blackstone Real Estate Partners VII.  The acquisition is slated to close in fourth quarter 2013.
 
The joint venture between Blackstone and DDR currently owns 44 shopping centers, and DDR will acquire Blackstone's 95% common equity ownership interest in 30 of the shopping centers for $1.46 billion.

HOFFMAN ESTATES, Ill. — Kenmore, one of Sears Holding Company’s key proprietary brands, has turned 100. The brand made its debut on sewing machines in 1913. Since then it has expanded to refrigerators, washing machines, dryers and dish washers. 

Menomonee Falls, Wis. -- Kohl's Corp. reported a 5% drop in first-quarter profit on weak sales fell due to unseasonably cold weather in large parts of the United States.

Kohl's net income fell to $147 million in the quarter ended May 4, down from $154 million a year earlier.

Sales fell 1% to $4.2 billion. Comparable-store sales fell 1.9%.

ECRM compared retail circular advertising in April 2012 vs. April 2013 and noticed some common overall trends across top retail chains.  While looking at the data, the biggest change from April 2012 to April 2013 came from Lowe’s Home Improvement.

CINCINNATI — Kroger corporate officer and SVP for human resources Kathleen Barclay was among 10 women named a YWCA Career Woman of Achievement. 

"I am honored and humbled to receive this recognition from the YWCA, a truly exceptional organization in Cincinnati and across the country," said Barclay. "I am grateful to work in an industry that provides the incredible opportunity to touch the lives of a very large group of women inside and outside our company, each and every day."

HUDSON, Ohio — Jo-Ann Fabric and Craft Stores plans to honor past and present members of the armed forces with its Military Discount Days — a four-day, in-store-only event Memorial Day weekend.

Bentonville, Ark. -- Wal-Mart Stores on Thursday reported profit and sales that were just below Wall Street expectations as the giant retailer struggled with a number of issues that impacted its U.S. sales, from the payroll tax increase to an unseasonably cold spring to delayed tax returns. The discounter also scaled back its earnings expectations for the current three-month period.

Wal-Mart’s net income rose 1.1% to $3.8 billion. Revenue edged up 1%, to $113.4 billion.

SAN FRANCISCO, Calif. — American Giant, a California-based apparel brand for men which operates through a direct-to-consumer e-commerce model, has launched a womenswear line. 

The first women's offerings will consist of both heavyweight and mid-weight sweatshirts and a jersey knit line, all made in America and sold exclusively online. Women will be able to pick from seven styles, all made from 100% pre-washed cotton and shrunk to fit and priced from $19.50 to $89.