Mass Merchant

Midwestern discounter Meijer is looking to a former store pharmacist who worked his way up in the company to take over the reins as president.

The company announced that Rick Keyes has been appointed as president of the Grand Rapids, Mich.-based retailer. Keyes, who joined the company 26 years ago as a pharmacist in Columbus, Ohio, takes the reigns of the multi-state Midwestern retailer after this week's announcement that J.K. Symancyk is leaving the company to join a Texas-based retailer.

GameStop has joined a growing list of retailers offering a new incentive for a vast segment of consumers to start thinking about holiday shopping: a comprehensive layaway program.

The company has joined Kmart, Walmart and other retailers in launching an enhanced layaway program in the past few weeks designed to help shoppers access the hottest gifts of the season.

British retailer John Lewis has opened one of its largest department stores ever, in the just-opened Grand Central shopping center in Birmingham.

The four-level, 250,000-sq.-ft. department store has a strikingly contemporary design and features several new services and concepts, including a new fashion and lifestyle department, loved&found, and the first John Lewis-branded spa, &Beauty. There is also a market stall-styled food offering, The Place to Eat.

Rincon, Ga. -- Wheeler Real Estate Investment Trust, Inc. announced the acquisition of Fort Howard Square in Rincon, Georgia, for a purchase price of approximately $11.5 million, using a combination of cash and debt to pay for the property.

The center is 95% leased and anchored by Lowe’s and Walmart Supercenter.

Citing favorable market conditions and a desire to “de-risk” its pension plan, nearly 14,000 participants in J.C. Penney’s retirement plan opted to receive lump sum payments.

The importance of expense control at Walmart became evident on Friday when the retailer confirmed it planned to eliminate 450 positions as part of a broader restructuring effort.

St. Petersburg, Fla. -- The Sembler Company and Forge Capital Partners announced the purchase of Disston Plaza in St. Petersburg, Florida, which will be added to Forge Real Estate Partners III investment fund. The 123,000 sq. ft. shopping center is currently 98% occupied and is anchored by Publix and also includes Bealls Outlet and Dollar Tree.

The importance of expense control at Walmart became evident on Friday when the retailer confirmed it planned to eliminate 450 positions as part of a broader restructuring effort.