Real Estate

Kapolei, Hawaii -- Wal-Mart Stores Inc. announced Wednesday that, together with SunEdison, it has completed new solar power installations at three Walmart stores in Kahului, Kailua-Kona and Kapolei, Hawaii, doubling the total number of stores in Hawaii powered by renewable solar energy.

The installations contribute to Wal-Mart’s objective of being supplied 100% by renewable energy. Similar installations are already in operation atop the Honolulu Sam's Club and Mililani Walmart on Oahu, and the Lihue Walmart on Kauai.

Boca Raton, Fla. -- Office Depot largest shareholder Starboard Value said Wednesday it sent a letter to the office supply retailer’s board, urging it to sell its 50% joint-venture interest in the Office Depot de Mexico business as soon as possible.

Starboard, which owns a 14.8% stake in Office Depot, said it believes the value of the JV interest is not fully reflected in the retailer's stock price.

Columbus, Ohio -- A Wednesday report by Bloomberg said that Limited Brands’ Victoria’s Secret banner would open its first stores in Hong Kong this year.

On the boards are two 1,500-sq.-ft. Victoria’s Secret shops at the International Finance Centre in the Central business district and at New Town Plaza. Bloomberg cited an emailed statement by Limited spokesperson Robin Hoffman.

Minneapolis -- Target Corp. reported Wednesday a profit of $961 million for the fourth quarter, down from $981 million in the year-ago period. The profit slip reflected expenses related to its Canadian market entry along with a spending slowdown during the holiday sales period. It was Target's weakest holiday season performance since 2008. But its adjusted results beat analysts' estimates and it forecast first-quarter earnings above Wall Street's view.

Davenport, Iowa -- Von Maur Department Stores announced Wednesday it has signed a contract to open a 150,000-sq.-ft. store at the GGP-owned Quail Springs Mall in Oklahoma City in fall 2014.

The store will be the company's first location in Oklahoma.

North Bergen, N.J. -- Vitamin Shoppe Inc. said Tuesday its fourth-quarter net income rose 3% to $9.7 million, up from $9.4 million in the year-ago period.
   

NEW YORK — Barnes & Noble founder and chairman, Leonard Riggio, has notified the company's board of directors of his intentions to purchase the company's retail business. 

New Albany, Ohio -- Abercrombie & Fitch Co.’s net income rose to $157.2 million for the fourth quarter, compared with $45.8 million a year earlier for a 13-week period. The chain said its net income was calculated using a new system for valuing inventory
 
Sales rose 11% to $1.47 billion for the 14 weeks ended Feb. 2, led by a 34% rise in international sales. (The period, however, includes an extra week compared to year earlier.)