Retail

HUDSON, Ohio — Jo-Ann Fabric and Craft Stores plans to honor past and present members of the armed forces with its Military Discount Days — a four-day, in-store-only event Memorial Day weekend.

Beachwood, Ohio -- DDR Corp. announced an agreement to acquire a portfolio of prime power centers from its existing joint venture with Blackstone Real Estate Partners VII.  The acquisition is slated to close in fourth quarter 2013.
 
The joint venture between Blackstone and DDR currently owns 44 shopping centers, and DDR will acquire Blackstone's 95% common equity ownership interest in 30 of the shopping centers for $1.46 billion.

Stockholm, Sweden -- Starcounter announced that its high performance in-memory NoSQL database powers the supply chain management application utilized by Gekas, a superstore in Sweden visited by 4.5 million customers each year. With 100,000 different products in stock and all items in its warehouse sold out more than three times per week, Gekas uses the low-cost system from Heads, a real-time retail application vendor, to integrate and streamline its entire supply chain, from procurement and its central warehouse to customer sales.
 

Among the many albums released by legendary rock band The Kinks, “Think Visual” stands as a forgettable collection of generic hard rock songs released in the mid-1980s, when the British Invasion pioneers were long past their creative prime and worn down from years of infighting. However, while the music of “Think Visual” may hold little importance, retailers would be wise to pay close attention to the admonishment of the album’s title.

HOFFMAN ESTATES, Ill. — Kenmore, one of Sears Holding Company’s key proprietary brands, has turned 100. The brand made its debut on sewing machines in 1913. Since then it has expanded to refrigerators, washing machines, dryers and dish washers. 

CINCINNATI — Kroger corporate officer and SVP for human resources Kathleen Barclay was among 10 women named a YWCA Career Woman of Achievement. 

"I am honored and humbled to receive this recognition from the YWCA, a truly exceptional organization in Cincinnati and across the country," said Barclay. "I am grateful to work in an industry that provides the incredible opportunity to touch the lives of a very large group of women inside and outside our company, each and every day."

Kohl's Corp. reported a 5% drop in first-quarter profit on weak sales due to unseasonably cold weather in large parts of the United States.

Kohl's net income fell to $147 million in the quarter ended May 4, down from $154 million a year earlier.

Sales fell 1% to $4.2 billion. Comparable-store sales fell 1.9%.

FRAMINGHAM, Mass. — Staples is not necessarily a name synonymous with home décor and specifically wall art, but the office products company is looking to change that with the launch of its Sports & Art Photo Gallery.