Discount Store

Matthews, N.C. – Billionaire activist investor Carl Icahn, who recently engaged in a high-profile effort to force EBay to separate its PayPal business, is now demanding that Family Dollar sell itself. Icahn, who recently disclosed he has a 9.4% stake in the discount retailer, sent an open letter to Family Dollar chairman Howard Levine saying that it is imperative the company be put up for sale immediately.

Mark Phillips was elevated to the role of VP of pharmaceutical merchandising at Walmart after previously serving as the retailer’s senior director of merchandising for small formats.

Coppell, Texas – Alco Stores Inc. reported a net loss of $8.1 million in the first quarter of its fiscal year, up from a loss of $1.7 million in the year-ago period, amid an elimination of a tax benefit. The company also announced its CFO has left the company.

Net sales decreased 4.1% to $104.7 million, compared to $109.2 million in the first quarter of fiscal 2014. Same-store sales, excluding fuel centers, decreased 7.1%. Alco president and CEO Richard Wilson cited several ongoing initiatives as providing promise for future performance.

Chicago -- Englewood Construction announced its retail group has recently completed an interior build-out for Chicago Cruise Lines and begun work on two new projects, including an American Girl Store in Orlando, Florida.

Jeffrey Thomas was elevated to the role of SVP of merchandise operations at Family Dollar as the retailer looks to reignite sales under the leadership of chief merchandising officer Jason Reiser.

Thomas previously served as vp of merchant services and fill a position previously held by Scott Zucker who left the company. Thomas will report to Jason Reiser, Family Dollar’s EVP and chief merchandising officer.

Matthews, N.C. -- Family Dollar Stores, announced that it has named Jeffrey Thomas senior VP-merchandise operations. He replaces Scott Zucker, who left the company at the end of May.

Thomas joined Family Dollar in 2003 as a director of vendor performance. He went on to assume roles with increasing responsibilities, and in 2013, was named VP-merchant services.

The National Retail Federation (NRF) and the Retail Industry Leaders Association (RILA) have asked an appeals court to overturn a federal judge’s approval of a lawsuit settlement regarding Visa and MasterCard’s credit card swipe fees, saying it was negotiated by only a handful of merchants and would do nothing to bring the fees under control.

Commerce, Calif. — 99¢ Only Stores has signed a lease for the entire 615,000-sq.-ft. Garfield Corporate Center in Commerce, California, in Los Angeles County. It is the largest industrial infill lease ever signed in Los Angeles County. In addition, the building ranks as the largest freestanding building to be constructed in Greater Los Angeles in the past 10 years.

JLL represented the landlord, KTR Capital Partners, the property’s developer and landlord, in the transaction.