Events

Hilton Head Island, S.C. — SERG Restaurant Group has announced that it has signed a letter of intent to create of a new restaurant for Shelter Cove Town Center. The concept for the new restaurant has been in development for three years and will open in 2014. Details were not announced.

Gaithersburg, Md. — Lakeforest Mall in Gaithersburg, Md., today announced a $1.2 million renovation plan. Improvements will include a reconfiguration of the center court, a new and improved children’s play area and new furniture for the food court.

Work will level the 5,245-sq.-ft. center court to create a space that will host community events such as the Lunar New Year Celebration, Summer Camp Expo and holiday promotions. Center court renovations will finish up by early November.

BOCA RATON, Fla. — Office Depot is extending an olive branch to its largest shareholder, Starboard Value LLP, to settle a dispute about who should serve on the company’s board of directors. 

In a press release, Office Depot said that if CEO Selection Committee members Tom Colligan and Marsha Evans are re-elected, the company would immediately invite to its board of directors any of the three Starboard nominees recommended by proxy advisory firms Institutional Shareholder Services (ISS) and Glass Lewis who are not elected.

NEWARK, N.J. — Inergetics, a developer of nutraceuticals and nutritional supplements, introduced Martha Stewart at the National Association of Chain Drug Stores Total Store Expo at the Sands Expo and Convention Center in Las Vegas Monday, August 12. 

Stewart was there to support the partnership between Martha Stewart Living Omnimedia and Inergetics, Inc. as well as to promote the launch of Martha Stewart Essentials — a complete line of whole-food-based supplements created with Inergetics, specifically targeted for women.

MENOMONEE FALLS, Wis. — Kohl’s Department Stores has donated $2 million throughout a three-year period to the Milwaukee Art Museum to continue the Kohl’s Art Generation program, a youth art education initiative.

New York -- Activist investor Bill Ackman of Pershing Square Capital Management plans to abandon his push for a quick replacement to J. C. Penney CEO Mike Ullman, according to the New York Post. The report says that it now appears that Penney will proceed with a more deliberately paced search for a replacement for Myron Ullman, who assumed the role of interim CEO in April in the wake of Ron Johnson's firing.   

CHARLOTTE, N.C. — The Belk Bowl today announced that they have finalized a deal that will bring an SEC team to the Belk Bowl beginning in 2014. The agreement extends for six years.

"We are thrilled to have the SEC as a partner for the Belk Bowl. We look forward to bringing the best of college football to Charlotte," said Tim Belk, Belk's chairman and CEO.

New York City -- Scathing letters continued flying back and forth on Friday, between activist investor Bill Ackman and the J.C. Penney board of directors — each attacking the other’s handling of the CEO search process and timing.

Then, CNBC reported that Perry Capital, a 7% Penney stakeholder, has weighed in as well, and will file a 13-D urging the board to immediately remove Mike Ullman as CEO, and replace his leadership with Allen Questrom as chairman and Footlocker’s Ken Hicks as CEO.

CITY OF COMMERCE, Calif. — 99 Cents Only expects to increase its store count by approximately 10% exclusively in existing markets in fiscal 2014, following the company's first quarter results for the period ended June 29.

Greenwood Village, Colo. — Red Robin Gourmet Burgers will open a new restaurant at Palisades Center Mall in Nyack, N.Y., on Aug. 19.

To help celebrate the grand opening, Red Robin will donate all receipts from the first week of sales of its signature Freckled Lemonade to Alex’s Lemonade Stand Foundation, a non-profit organization that supports research into cures for children’s cancer.