Mass Merchant

Taramac, Fla. — Furniture retailer City Furniture is completing a $17.5 realignment of its South Florida retail network with the opening of a new 34,000-sq.-ft. Ashley Furniture HomeStore in Cutler Bay, Florida. This location is adjacent to a 56,000-sq.-ft. City Furniture showroom that opened in October 2013, creating a 90,000-sq.-ft. superstore.

A lot of change is taking place at Target these days, but one thing the company isn’t messing with is a generous dividend that has helped sustain the value of the stock price.

The Target board of directors declared a quarterly dividend of 52 cents a share this week, a 21% increase from the 43 cents paid last quarter. Target is among an elite group of companies that has paid a dividend for 188 consecutive quarters since it became publicly held in October 1967.

Montano Lucino, Italy — Italian hypermarket retailer Bennet has completed the rollout of electronic article surveillance (EAS) loss prevention solutions in its stores in Italy. The solution involves the installation of 1,000 P20 EAS antennas from Checkpoint’s Evolve solutions, as well as radio frequency (RF) tags, Alpha high-theft solutions and point-of-sale deactivators, in addition to the rollout of an RF source-tagging program aimed at increasing on-shelf availability, improving open merchandising while reducing labor costs and inventory shrink.

Minneapolis — Target Corp. has named Brad Maiorino as senior VP, chief information security officer, a new position added as the chain overhauls its security department in the wake of its data breach.  Maiorino comes to Target from General Motors,  where he was the company’s chief information security and information technology risk officer.  Prior to that, he was the chief information security officer at General Electric.

Target has bolstered its digital security efforts with the appointment of former General Motors and General Electric executive Brad Maiorino to the newly created role of SVP and chief information security officer.

Cleveland, Texas — Baker Katz has sold the 11,438-sq.-ft. Cleveland Shopping Center in Cleveland, Texas. Baker Katz facilitated the transaction with a local investor. Financial details remain private.

Bentonville, Ark. — In the wake of an accident involving a truck driver for Wal-Mart Stores on the New Jersey Turnpike on Saturday, June 7 that left comedian Tracy Morgan critically injured and killed one of Morgan’s associates, comedian James McNair, Wal-Mart Stores has released a fact sheet about its trucking safety guidelines, as well an official statement regarding the crash.

Burlington Stores president and CEO Tom Kingsbury has the operator of 523 stores headed in the right direction with an off-price model that is delivering results and poised for expansion.