Sales & Marketing

Greenwich, Conn. -- Private investment firm Starwood Capital Group announced that an affiliate of Starwood has completed its acquisition of a 90% majority interest in seven U.S. shopping centers from the Westfield Group.

Westfield retained a 10% minority interest in the portfolio.

Starwood also announced that it has formed a new subsidiary, Starwood Retail Partners, to be based in Chicago, to oversee the management of the newly acquired assets and has named Scott Wolstein, co-founder of DDR, as its CEO. 

MINNEAPOLIS — Target reported a 2.1% same-store sales increase that was toward the low end of the company’s expectations.

Despite June sales that were softer than expected, Target left its second quarter profit forecast intact as the weaker-than-expected result offset a better-than-expected performance the previous month.

Aliso Viejo, Calif. -- Johnny Rockets said Tuesday it has finalized a franchise agreement with restaurant entrepreneur Antonio Augusto Ribeiro de Souza to open 30 restaurants in Brazil. 

This news follows recent announcements of the chain's new franchise agreements in Peru and Ecuador, as well as the opening of its second restaurant in Chile and its first in the Dominican Republic.

FORT WORTH, Texas — Kroger has opened a Signature store in the Fort Worth, Texas, market.

The 100,000-sq.-ft. store, which includes a fuel center, places more emphasis on an interactive customer experience and offers more natural and organic foods, chef-prepared meal solutions and ethnic and gourmet food choices. Along with the fuel center, the new store features a pharmacy and offers a vast wine and beer selection. Kroger currently has 30 Signature stores in the Dallas-Fort Worth market.

North Plainfield, N.J. -- Business appears to be improving, according to a survey by Levin Management Corp. The firm conducted the study among its retail tenants in 90 properties.

The mid-year survey, which polled 250 retailers, indicated positive changes year-over-year. At mid-year 2012, 64.2% of respondents reported the same or higher sales volume compared with this time last year; 35.7% reported lower sales. At mid-year 2011, 50.1% of respondents reported the same or higher sales; 49.8% reported lower sales.

Dennis Cohen was named VP and general manager of the responsible sourcing unit of global product safety company Underwriters Laboratories.

Cohen spent the past 14 years at Office Depot, most recently serving as senior director of private brand operations and global sourcing. In that capacity, Cohen directed five departments and was responsible for the strategy development and operational execution of Office Depot’s $3.5 billion private brand business. He also served as director of supply chain transportation and logistics at Office Depot.

Westbrook, Maine -- Olympia Sports announced it has recently surpassed its 200th location and has begun a march south and west from its home state of Maine.

The company plans to open 25 stores during its current fiscal year, including its first store in West Virginia and others in states south of New York. A similar pace of expansion is expected for the following fiscal year beginning in October, said Olympia.

Walmart observed its 50th anniversary in fine fashion this week as its share price hit an all-time high, even as the company faced familiar charges from vocal critics.

Walmart shares closed Tuesday at an all time high of $70.75, nearly 18% above the $59.97 level where they began the year and more than 46% above the 52-week low price of $48.31 seen late last summer. The move is nothing short of remarkable considering an investment in Walmart was dead money for the past dozen years as shares traded for a little more than $69 back in December 1999.