Supply Chain & Merchandising

Los Angeles -- X Team International announced that Los Angeles-based partner Cypress Retail Group has been retained by Property Development Centers, a wholly owned subsidiary of Safeway Inc., to serve as the leasing agent for four shopping centers under development and redevelopment in the Los Angeles area.

The four shopping centers, located in La Canada, La Crescenta, Eagle Rock and Pasadena, are all being redeveloped, renovated or expanded, and are anchored by Vons, a Los Angeles-based, Safeway-owned grocery store.
 

BIRMINGHAM, Ala. — Books-A-Million announced that it has promoted Terrance Finley, formerly EVP/chief merchandising officer to president and COO of the company, effective immediately. Finley has served in his previous role since August 2009 and in various other capacities in the merchandising department since joining the company in 1992. Finley was appointed to the board of directors of Hibbett Sports Inc. in March 2008.

Phoenix -- Cole Real Estate Investments said Monday that it has acquired a portfolio of 11 PetSmart retail properties for $74 million.

The approximately 300,000-sq.-ft. triple-net leased portfolio is located in primary markets in California, Florida, Illinois, Maryland, Massachusetts, Michigan and Texas. The 11 individual retail properties are leased to PetSmart, under one master lease, with an original 20-year lease term and approximately 10 years remaining, plus three automatic renewals for up to a total of 20 additional years.

Target may want to rethink its space allocation for the sporting goods department in light of the success the company is having with its Fan Central initiative. Granted, Fan Central is a licensed apparel program within the sporting goods department, but EVP merchandising Kathee Tesija described the success the program is having as “remarkable” during a recap of key merchandising initiatives earlier this month in a meeting with financial analysts.

Washington, D.C. -- Applied Predictive Technologies (APT) announced that Chico’s FAS has signed an agreement to license APT’s Test & Learn Management System.

Chico’s chose the solution after a pilot project which examined a range of the retailer’s promotional strategies. Using the Test & Learn approach during the pilot, Chicos’ gained valuable insights that helped it better understand its customers’ behavior.

Lowe's has announced a restructuring in both in-store operations and merchandising organizations that will thin the ranks of its management and consolidate both its regions and divisions.

Lowe's merchants have been reorganized into two product divisions, each led by a senior VP/general merchandising manager. Both will report to executive VP merchandising Robert Gfeller Jr. 

Troy Dally, previously SVP/GMM hardlines/building products, will lead the new building and outdoor products division.

Tuscaloosa, Ala. -- Dallas-based Cypress Equities said that local fashion boutique Soca Clothing will open a new store at Midtown Village, located in Tuscaloosa, Ala.

The new 1,400-sq.-ft. store is slated to open in September.

Midtown Village is a 350,000-sq.-ft. mixed-use community in the heart of Tuscaloosa featuring retail and restaurant space, as well as office suites.
 

COLUMBUS, Ohio — DSW's model of bringing designer goods to a budget-conscious consumer continues to pay off, as the company posted sales and earnings growth for its second quarter. DSW Inc. reported that net sales for the second quarter increased 4.7% to $476.3 million from $415.1 million in the second quarter of 2010. Comparable sales for the second quarter increased 12.3%. 

Reported net income was $139.9 million, or $3.96 per diluted share. This compares with reported net income of $26.9 million, or $1.00 per diluted share.