Corporate Governance

Chicago -- Despite all of the hype surrounding mobile commerce, just 36% of chief marketing officers at retail companies have included mobile in their holiday marketing strategies this year, according to a recent BDO USA survey. And of the CMOs incorporating mobile, 84% say it accounts for less than 10% of their holiday marketing efforts. The findings are from the most recent edition of the BDO Retail Compass Survey of CMOs, which examined the opinions of 100 chief marketing officers at leading retailers located throughout the country.

New York City -- Lee Scott, the former CEO of Wal-Mart Stores, sold 100,000 shares in the company on Friday, reducing his direct stake in the company by about 14%, according to a filing released late on Tuesday, Barrons reported.

Scott sold the shares for $57.17 each on average. He still owns about 607,000 shares directly, not including any options he may still have, the report said. Scott had not sold shares since March 2010, when he also sold about $5.7 million worth, according to InsiderScore.com.
 

New York City -- Modell’s Sporting Goods announced it will open a 16,460 sq. ft. store in Oceanside, N.Y., on Dec. 2. It will be the retailer’s 61st location in New York.

Modell’s operates 148 stores located in New York, New Jersey, Pennsylvania, Connecticut, Rhode Island, Massachusetts, New Hampshire, Delaware, Maryland, Virginia and Washington, D.C.
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New York City -- Solid-state lighting figures prominently in Starbucks’ newly renovated Time Square flagship in New York City. The retailer utilized the services of Focus Lighting, a New York-based architectural lighting design firm, which called upon LED Source, an international supplier of LED lighting.

“LEDs are the most energy-efficient lighting solution on the market,” said Joe Zamore, VP of business development, LED Source, Wellington, Fla., which specializes specializes in full-scale evaluations and retrofits.

Washington, D.C. -- The National Retail Federation urged the House Judiciary Committee to support legislation that would require Internet retailers to collect sales tax the same as local merchants, saying online sellers have a price advantage that is “stifling” Main Street stores’ ability to compete.

Lewisville, Texas -- Parago, a leading provider of consumer and corporate incentives, announced the launch of a promotional fulfillment service offering designed to reward and communicate to clients’ Spanish-speaking customers in their language of preference.

Chestnut Hill, Mass. -- WS Development announced that chocolatier Lindt has increased its outlet presence by adding a seventh temporary store this holiday season at a WS shopping center. The Swiss chocolate manufacturer and retailer began its relationship with WS in the spring with temporary stores at six WS Development locations in Massachusetts, New Hampshire and Connecticut. Lindt opened its seventh Lindt Factory Outlet within the WS Development portfolio last month at The Crossing at Smithfield. All seven stores will remain in place through the holidays.

Las Vegas -- In the latest acquisition for its Primestor-Platinum Urban Opportunity Fund I, LP, Primestor Development has acquired 4G Plaza, a neighborhood shopping center in Las Vegas, for $8.8 million.

Purchased from 4G Properties LLC, the 78,849-sq.-ft. center is anchored by El Super and shadow-anchored by The Home Depot. It is 93% leased. Other tenants include Wells Fargo, Taco Bell, Big 5 Sporting Goods and Sprint.

Philadelphia -- Simon Property Group announced Tuesday plans to unify the two main shopping venues of King of Prussia Mall, in King of Prussia, Pa., expanding one of America's most productive and iconic retail destinations.

Irvine, Calif. -- Steadfast Cos. said that Richard Gann has been hired as chief marketing officer for Steadfast Capital Markets Group, the company’s securities and financial services division.

In the newly created role, Gann will oversee strategic marketing functions to assist in the overall positioning and growth of the Steadfast Income REIT, the company’s $1.65 billion public, non-traded real estate investment trust, as well as future alternative investment programs.