Sales & Marketing

Bentonville, Ark. -- Wal-Mart Stores, in a presentation at a Bank of America Merrill Lynch conference on Thursday, announced that it would open “hundreds” of smaller-format stores over the next three years.

According to Bill Simon, president and CEO of Wal-Mart U.S., the ramped-up development could be augmented by some acquisition activity, although he didn’t elaborate on specifics.

There have been dozens of books written about Walmart, but none from the perspective of Ron Loveless. He is an Arkansas native from a small town who was hired by Walmart founder Sam Walton in 1964. His first job was that of stock boy, but he would go on to hold positions of increased responsibility in operations and merchandising and was the executive charged with opening the first Sam’s Clubs in the early 80’s. Loveless retired in 1986.

Arlington, Va. -- The Retail Industry Leaders Association on Thursday praised Illinois Governor Pat Quinn for signing the e-Fairness legislation, which addresses the long-standing inequity in the retail sales industry between brick-and-mortar retailers and their online-only counterparts.

Jacksonville, Fla. -- Stein Mart reported Thursday that fourth quarter profit surged to $18.8 million from $2.7 million in the year-ago period. Results included an income tax benefit in fourth quarter 2010.

Revenue for the quarter ended Jan. 29 decreased 1.5% to $336.7 million, compared with $341.8 a year earlier. Same-store sales dipped 1.2%.

Miami Beach, Fla. -- Terranova Corp. announced that healthy fast-food chain Energy Kitchen will open a new 2,500-sq.-ft. restaurant at Suniland Shopping Center, located in Miami Beach, Fla.

The new store will be Energy Kitchen’s first in south Florida. The New York City-based chain operates 10 stores in the New York City area, with, according to Energy Kitchen, approximately 55 stores in development in Florida, Washington D.C., Boston, White Plains, Long Island and Maryland.

NEW YORK -- Phillips-Van Heusen and Comfort Revolution announced that they have entered into a licensing agreement under which Comfort Revolution will market and distribute memory foam bedding and stadium seat cushions under PVH’s IZOD brand. The licensing agreement has an initial term of just over two years and provides for a three-year renewal at PVH’s option.

Chicago -- Urban Retail Properties LLC said it has been awarded the contract by Five Mile Capital Partners LLC to provide management and leasing services for Shawnee Mall located in Shawnee, Okla., and Brazos Mall in Lake Jackson, Texas, effective immediately.

Shawnee Mall is a one-level enclosed regional shopping center anchored by Dillard’s, Sears and J.C. Penney. The tenant line-up includes a newly remodeled Jones Theatres Movies Six, Old Navy, Ross Dress For Less, Buffalo Wild Wings and over 70 specialty stores.