Supply Chain & Merchandising

Aguora Hills, Calif. -- Jacksonville, Fla.-based Regency Centers said it has leased restaurant space at Twin Oaks Shopping Center, located in Aguora Hills, Calif., to Subway.

Subway has leased 1,175 sq. ft., bringing the center to 94% leased. The tenant is slated to open in April.

New York City -- Coach reported Tuesday that net income for the quarter ended Jan. 1 rose a better-than-expected 26% to $303.4 million on strong sales, compared with $240.1 million in the year-ago period.

The company credited a rebound in U.S. luxury spending, as well as soaring holiday sales in China for the strong performance.

Sales leaped 18.7% to $1.26 billion, boosted by a same-store sales increase of 12.6% in North America.

On average, Wall Street expected revenue of $1.21 billion.

New York City -- TF Cornerstone said it has signed a 10-year, approximately 3,500-sq.-ft. lease with Bakehouse at 113 Horatio Street, in the Meatpacking District of New York City.

In addition to the ground floor, the bakery will occupy approximately 3,500 sq. ft. of the building’s basement and will primarily be wholesaling cakes and pastries to the hotel and restaurant industry. The space will also be built out to accommodate a café/bakery and a French bistro-style restaurant which is anticipated to open this spring.

YORK, Pa. -- The Bon-Ton Stores announced its board of directors unanimously approved an amendment to Bud Bergren’s employment agreement, which states Bergren will continue to serve as president and CEO through Feb. 5, 2012. His term as president and CEO will automatically renew for successive periods of one year unless either the company or Bergren elects not to renew his term as president and CEO.

WOONSOCKET, R.I. – The next chapter for CVS Caremark officially is under way as the company announced on Monday the next stage of its previously announced transition plan and officially named Larry Merlo, president and COO, as CEO, effective March. 1.

Tom Ryan, chairman, president and CEO, will remain nonexecutive chairman until his retirement at the company’s annual meeting of shareholders in May.

New York City -- Winick Realty Group LLC said that jewelry and accessory retailer Laila Rowe has leased its first downtown Manhattan location at 99 Wall Street, between Front Street and Water Street.

Laila Rowe currently has 17 retail stores on the East Coast.

The 520-sq.-ft. space is on the ground floor and includes a partial basement.

Boynton Beach, Fla. -- Indianapolis-based Simon Property Group said that Darren Shepherd has been named general manager of its Boynton Beach Mall property.

In his new position, Shepherd will be responsible for overseeing operations, customer relations, retail development and security for the mall.

Oakbrook, Ill. -- McDonald’s Corp. said net income for the fourth quarter, ended Dec. 31, 2010, rose 2.1% to $1.24 billion from $1.22 billion a year earlier.

Revenue increased 4% to $6.21 billion in the fourth quarter from $5.97 billion a year earlier. Global same-store sales rose 5% in the quarter, reflecting increases of 4.4% in the United States, 3.4% in Europe and 5.5% in the Asia/Pacific, Middle East and Africa division.