Retail

Indianapolis — Simon Property Group has received zoning approval from the Montgomery County Council in Maryland by unanimous vote for the development of Clarksburg Premium Outlets at Cabin Branch.

Simon Property Group, New England Development and Streetscape Partners make up the development team for the project, which will add 1,500 jobs and more than $150 million in private investment to the local economy. The development team is planning to open Clarksburg Premium Outlets by late 2015.

Mount Laurel, N.J. -- Agilence, a provider of cloud-based exception reporting solutions, announced that Redner's Markets has deployed Agilence’s Retail 20/20 to reduce shrink and improve in-store operations. The solution will also be utilized to provide visibility into daily store processes to increase efficiency and reduce fraud. Based in Reading, Redner's Markets is an employee-owned, regional supermarket chain with 44 warehouse markets and 18 quick shops throughout Pennsylvania, Maryland and Delaware.

Salt Lake City – Overstock.com has promoted one executive to the position of senior VP, general counsel and also promoted four other executives to VP positions. The company named VP and general counsel Mark Griffin to the position of senior VP and general counsel, and promoted four other executives to VP.

Toronto -- Michael Culhane, CFO of Hudson’s Bay Company, has resigned following a leave of absence from the company.  

Culhane went on personal leave on January 22, at which time COO and president Donald Watros was appointed acting CFO. He will continue in that role until a permanent replacement is named.

“This is the ideal time for me to leave HBC as the company is well positioned for the future,” said Culhane. “I wish all of HBC’s associates and business partners continued success.”

Green Mountain Coffee Roasters, the company behind Keurig brewing technology, and retailer Krispy Kreme announced that the companies have reached an agreement to bring Krispy Kreme signature coffee to K-Cup packs for the Keurig brewing system.

The companies are set to launch Krispy Kreme coffee K-Cups in both Smooth and Decaf by the end of 2014. The packs will be available at Keurig.com and KrispyKreme.com, as well as select Krispy Kreme shops, grocery, retail and away-from-home channels across the United States.

Charlotte, N.C. - Belk has partnered with HelloWorld, Inc. (formerly ePrize) to create a campaign that allows consumers to submit a photo and brief description of a couple's love story for a chance to win a $20,000 event, like a wedding, and a private concert with singer Edwin McCain.

Indianapolis  — Kite Realty Group Trust has announced a definitive agreement with Inland Diversified Real Estate Trust. Under the agreement, Inland Diversified will merge with and into a wholly owned subsidiary of Kite Realty through a stock-for-stock merger. The transaction value is approximately $2.1 billion; the equity value is approximately $1.2 billion; and the enterprise value is approximately $3.9 billion — this based on the closing trading price of Kite realty’s common shares on February 7, 2014.

Hudson’s Bay CFO Michael Culhane has resigned his spot following a leave of absence from the company. The news comes two weeks after the company brought in Douglas Scovanner as EVP of finance and accounting on an interim basis to support company president Donald Watros, who assumed the role of acting CFO.