Corporate Governance

Naperville, Ill. -- OfficeMax said Friday that its executive VP and chief merchandising office Ryan Vero has resigned, effective Dec. 2.

Michael Lewis, executive VP and president of retail, will continue to provide oversight to the marketing and merchandising teams, according to OfficeMax.

OfficeMax said it is initiating a search for a chief merchandising officer immediately.
 

Columbus, Ohio -- Limited Brands, parent to Victoria's Secret, Pink, Bath & Body Works, La Senza and Henri Bendel, said Thursday it will buy back up to $250 million of its shares.

The new share repurchase program follows the completion of a $500 million share repurchase program. So far this year, Limited has repurchased $1.1 billion worth of its stock.
 

Indianapolis -- Shopping mall owner Simon Property Group said Friday it has filed a complaint against the State of Indiana in Marion County Circuit Court.

The suit is not for monetary damages but is a move to try and force the state to make Amazon.com collect sales tax in order to erase Amazon’s pricing advantage over brick-and-mortar retailers.
 

Addison, Texas -- Coyote Management announced the formation of a new marketing solutions company called Coyote Creative.

With the addition of the new company, the mall owner and manager has expanded its services to include marketing solutions to individual companies, regional malls, lifestyle projects and open-air shopping centers.

The new company will be headed by Kymberley Scalia, corporate director of marketing, and Lindsey Willis, marketing coordinator.
 

Boston -- Grossman Development Group said Friday that Mark Hebert has joined the company as VP development. 

Hebert was previously project development manager for WS Development. Prior to WS, Hebert spent nearly 10 years at BJ’s Wholesale Club, starting as a store planner and becoming a site development manager.
 

New York City -- Apple on Friday unveiled a new glass entrance for its store on New York City's Fifth Avenue.

The original 32-ft. glass cube previously used 90 panes of glass. The new design has a more sleeker, slimmed-down look and features 15 larger, seamless panes. Apple also updated the plaza outside the store.

The total project cost Apple a reported $6.7 million.
 

New York City -- Fresh & Easy Neighborhood Market, the U.S. division of Tesco, has opened its first Fresh & Easy Express store, at La Cienega Boulevard and 18th Street in Los Angeles.

The new format is approximately 3,000 sq. ft. versus the 10,000-sq.-ft. footprint of a standard Fresh & Easy. It features an edited selection of some 2,700 SKUs, including fresh foods, baked items, groceries, and health and beauty items.
 

Houston -- Cardtronics announced that its wholly owned subsidiary, Cardtronics Canada acquired Mr. Cash ATM Network, Lethbridge, Alberta.

The acquisition expands Cardtronics’ international presence into Canada. Financial terms of the acquisition were not disclosed.

Columbus, Ohio -- Big Lots reported that U.S. comparable-store sales for the fiscal third quarter ended Oct. 29 rose 1.7%. Total sales for the period rose 6% to $1.1 billion, from $1.04 billion.

Nashville, Tenn. -- Kirkland's Inc. raised its third-quarter earnings outlook Thursday after total revenue rose because of store expansion.

Total revenue rose 4.7% to $97.1 million in the August-to-October period. Same-store sales fell 3.6%.

The home-decor store said it now expects earnings of 3 cents to 5 cents per share, up from its previous prediction of a quarterly loss.