La-Z-Boy, Inc.

MONROE, Mich. — La-Z-Boy has nominated Michael T. Lawton to serve a one-year term on the company's board of directors. La-Z-Boy shareholders will get to vote at the annual meeting, Aug. 21.

HOFFMAN ESTATES, Ill. — Sears is headed to the Food Network South Beach Wine & Food Festival this month to showcase its new lines of outdoor living furniture, patio sets and Kenmore grills.

Goldsboro, N.C. -- Casto announced that Harris Teeter will open a 53,000-sq.-ft. store at Memorial Commons, located in Goldsboro, N.C. It is the grocer’s first store in the market.

Harris Teeter is slated to open late 2013, and will join Office Depot, Subway, Starbucks and T-Mobile.

Memorial Commons, a joint venture of Casto and 1st Carolina Properties, is a new neighborhood center located at the gateway to Wayne Memorial Hospital and Wayne County Community College.
 

Cincinnati -- Mid-America Real Estate Corp.’s Investments Sales Group announced the recent sale of Stone Creek Towne Center located in Cincinnati.

The property was purchased by Oakbrook, Ill.-based Inland Real Estate for $36 million from a joint venture between Brandicorp and Trinity Development Co.

MONROE, Mich. -- La-Z-Boy reported that sales for the third quarter declined 4.3%, partly due to ongoing challenges related to housing and consumer confidence. Net income for the fiscal 2011 third quarter was 19 cents per share, which includes a 6-cent tax benefit, versus 21 cents per share in last year's third quarter.

The retail segment's sales increased 9.2%, and it experienced its eighth consecutive quarterly improvement of operating margin performance compared with the prior year, the company reported.