Consumer Electronics

Philadelphia -- Jones Lang LaSalle announced Wednesday that it has closed the sale of Red Lion Plaza for Onyx Equities and Invesco Real Estate. A private buyer purchased the 229,204-sq.-ft. retail shopping center that is located in northeast Phildelphia, is 95% occupied, and anchored by Best Buy, Staples, American Signature and Planet Fitness.

FRAMINGHAM, Mass. — Staples reported that total company sales for the fourth quarter were $6.6 billion, an increase of 3% over the same period last year.

On a GAAP basis, the company reported fourth quarter 2012 net income of $90 million, or 14 cents per share, compared with net income of $284 million, or 41 cents per diluted share, achieved in the fourth quarter of 2011. 

I have to admit, the recent announcement of the merger between Office Depot and OfficeMax took me by surprise. It’s not as though it doesn’t make sense — it’s logical both logistically and financially — but, while there had been a few rumblings and rumors, this is a dramatic move that took place with relatively little forewarning.

I have to admit, the recent announcement of the merger between Office Depot and OfficeMax took me by surprise. It’s not as though it doesn’t make sense — it’s logical both logistically and financially — but, while there had been a few rumblings and rumors, this is a dramatic move that took place with relatively little forewarning.

New York -- Best Buy Co. named Ron Wilson as president and COO of its Canadian operations, effective immediately. Wilson will lead the business in Canada under the Future Shop and Best Buy online brands.

As SVP merchandising and e-commerce since 2008 for Best Buy Canada, Wilson led the strategic visions of Bestbuy.ca and Futureshop.ca. Wilson previously managed several other units within Best Buy Canada, including merchandising, operations and marketing.
 

New York -- Fashion Outlets of Chicago, a new mall due to open in August near O'Hare International Airport, on Tuesday announced its tenant list.

The two-level, 530,000-sq.-ft. center will be anchored by a Bloomingdale's outlet, Last Call by Neiman Marcus, Saks Fifth Avenue Off 5th and Forever 21.

Some are familiar; others not so. Fast Company’s annual list of “The World’s Top 10 Most Innovative Companies in Retail” covers a lot of ground in its diversity. Here’s a recap:

1. Nike: Cited for its revolutionary new products and culture of “true believers.”

Madison, Ala. -- Brentwood, Tenn.-based GBT Realty announced that several new tenants bring its Shoppes of Madison property to near 100% occupied.

Moe’s Southwest Grill will join the new shopping center, along with Buenavista Mexican Cantina, which will open a 7,220-sq.-ft. restaurant on a 1.55-acre outparcel.

The Target-anchored Shoppes of Madison also features Ross, Petco, Kinnucan’s, and numerous junior anchors and small shops. The 28-acre center, which opened in 2012, was developed and leased by GBT Realty Corp.