Supply Chain & Merchandising

Phoenix -- Cole Real Estate Investments announced that it signed leases totaling nearly 640,000 sq. ft. at Cole-related retail properties during 2011.

Cole secured approximately 308,000 sq. ft. of new leases, along with 330,000 sq. ft. of renewals, bringing the occupancy rate for its portfolio of properties to 97.8%.

SAN FRANCISCO — Gap Inc. has named Jill Stanton to the newly-created role as creative advisor for Old Navy and Liz Meltzer as SVP Gap international merchandising.

“Boosting our already-strong creative talent is a key focus in 2012,” said Glenn Murphy, chairman and CEO of Gap Inc. “On the heels of Tracy Gardner coming back to Gap, we are thrilled that Jill Stanton will bring her talent and proven business experience as creative advisor to Old Navy to help us deliver consistently great product.”

Menomonee Falls, Wis. -- Kohl’s Corp. reported Thursday that profit for the fourth quarter dropped 7.9% to $455 million, from $494 million a year earlier, as the retailer experienced unexpected revenue declines during the holiday selling period.

Kohl's reported that total sales dipped 0.3% to $6.02 billion in the period, and same-store sales dropped 2.1%. It was the chain’s first revenue decline in three years

Columbus, Ohio -- Limited Brands reported Wednesday that fourth quarter profit dropped 21% to $359.4 million, from $452.3 million in the year-ago period.

The parent to Victoria’s Secret, Bath & Body Works and Henri Bendel was negatively impacted by a large restructuring charge for an asset write-down and closures of some of its La Senza lingerie stores. Last quarter’s profit decrease breaks a streak of four consecutive quarters of year-over-year profit increases.

Pleasanton, Calif. -- Safeway Inc. posted a drop in quarterly net income amid higher commodity costs.

The chain said fourth-quarter net income fell to $215.6 million from $229.6 million a year earlier.

Total sales increased 6.2% to $13.6 billion. Same-store sales rose 1.5%, excluding fuel.
 

News this week that Walmart acquired a majority stake in one of China’s fastest growing e-commerce companies positions Walmart to become a dominant multichannel player in China far faster than it ever would have on its own.

Dallas -- Fort Worth, Texas-based Trademark Property Co. announced the opening of Central Market’s first small prototype store at its Preston Oaks center. Located in the Preston Hollow neighborhood in Dallas, the 30,000 sq.-ft. store is the ninth location -- the fifth in Dallas-Fort Worth -- for the specialty grocer.

The agreement with H-E-B Central Market was originally announced by Trademark in May 2011 following strong interest from several potential tenants looking to move into the former Borders bookstore location.

Mooresville, N.C. -- Lowe’s Cos. announced the promotion of Kevin S. Measel to senior VP store operations for the company’s West division. Measel replaces Jim Frasso, who retired from Lowe’s following a 17-year career with the company.

Measel has more than 28 years of retail experience in both store operations and merchandising, having served most recently as merchandising VP nursery.