News Briefs

Mall-man Greg Maloney, who spent 25 years at JLL and rose to be the president and CEO of JLL’s Americas Retail Business unit, has joined Second Horizon Capital as a senior advisor.

In his new role, Maloney will work closely with Second Horizon’s leadership team to support portfolio strategy, leasing execution, operational improvements, and future growth opportunities.

 "His leadership experience and industry perspective will be invaluable as we continue executing our business plan,” said Howard Levine, founder and managing partner of Second Horizon. “Greg's focus will be on helping us drive value creation through asset strategy, leasing execution, operational excellence, and portfolio growth."

Second Horizon Capital has focused on acquiring large-scale, underinvested retail properties and strengthening them with a combination of targeted capital investment, active operations, community engagement, and long-term stewardship. 

"Second Horizon Capital has assembled an exceptional team and built a strong platform with a clear vision for growth," said Maloney. "The company has established a reputation for thoughtful investment, disciplined execution, and long-term stewardship of its assets and communities.”

The firm is well known for bringing community stakeholders--including business owners, community groups, and tenants to the forefront in reinvigorating community hubs.

"Greg brings to us a unique combination of operational expertise, strategic vision, and industry relationships that will be tremendously valuable as we continue to grow our company," noted Second Horizon co-founder Camilo Varela.

The Kroger Co. exceeded analyst projections for sales with help from e-commerce, even as it came in slightly below expectations for profits.

The supermarket giant reported net earnings of $903 million for the first quarter of fiscal 2026 ended May 23, 2026, up 4% from $866 million during the first quarter of the prior fiscal year. On an adjusted basis, the company earned $1.58 per share, just missing consensus estimates of $1.59 per share but up from $1.49 in the previous period.

Total company sales were $46.1 billion, a 2% year over year increase from $45.1 billion. Adjusted e-commerce sales growth of 19% helped drive overall sales improvement. 

[READ MORE: Kroger to host weeklong omnichannel savings event]

In addition, Kroger Precision Marketing (KPM), the retail media business of Kroger running on its 84.51˚ data analytics subsidiary, reported profit growth of more than 20% from the prior year fiscal first quarter.

The company also reaffirmed its full year fiscal 2026 guidance for identical sales growth (without fuel) of 1-2% and earnings per share of $5.10 - $5.30.

"I joined Kroger because I believe it represents the best opportunity in retail.,” said Kroger CEO Greg Foran. “We have the right stores in the right places, unmatched customer insights, and the ability to win. Our focus is clear: to become America's best grocer. We will measure ourselves against that every day. We are pleased with our first quarter results, but we know there is more work to do.”

Based in Cincinnati, The Kroger Co. operates approximately 2,800 stores under a variety of banners across the U.S., including Kroger, Fred Meyer, Ralphs, Dillons, Smith's, King Soopers, Fry's, QFC, City Market, Owen's, Jay C, Pay Less, Baker's, Gerbes, Harris Teeter, Pick 'n Save, Metro Market and Mariano's.

New tenants are set to arrive at an expanding shopping center in Idaho’s second-largest city.

CenterCal Properties LLC has announced new retail and dining tenants coming to Phase II of The Village at Meridian, a 846,000-sq.-ft. mixed-use retail and lifestyle property in Meridian, Idaho. Fashion, lifestyle and wellness retail additions include Vuori, Alo, Kendra Scott, Tecovas, Gorjana and Tempur-Pedic, expanding the center's mix of leading national brands.

New dining offerings at the property will include Flower Child and Paris Baguette, bringing a fresh fast-casual concept and bakery café to the center. Solidcore, a high-intensity, low-impact strength training brand, will soon join the roster at The Village at Meridian as well.

Additional tenants will be announced as leasing activity continues. Initial openings are expected in September 2026, with full Phase II completion anticipated in February 2027. 

CenterCal says The Village at Meridian benefits from strong regional population growth, rising household incomes, and continued residential and commercial development.

[READ MORE: CenterCal Properties acquires San Diego’s Mira Mesa Market]

"The Village at Meridian continues to be one of the strongest retail environments in the country," said Jean Paul Wardy, CEO of CenterCal Properties. "This expansion allows us to introduce retail and dining options that align with how the market has evolved and what customers are looking for today.”

Founded in 2004, CenterCal Properties operates 18 centers in California, Idaho, Oregon, Utah and Washington.

Michaels seeks to provide studio-quality services for artists and photographers.

The specialty arts & crafts retailer is combining what it calls archival-quality fine art printing with its 10-minute custom framing service (which starts at $29) to offer what it says is the only fully integrated experience that goes from digital inspiration to finished piece in minutes.

As part of this new offering, Michaels is including larger standard formats in its same-day fine art printing. Customers can now print any digital photo on fine art paper in sizes ranging from 4x4 up to the newly added 16x20. These prints are ready in minutes while customers shop, with prices starting at $4.

Michaels is also launching more than 15 evergreen mat templates for occasions like Father's Day, graduations, and anniversaries. These can be used as an overlay for 10-minute custom framing or paired with any ready-made frame in-store. Some templates are interactive and can be colored in for gifts from children.

[READ MORE: Michaels doubles down on party supplies with in-store customization bars and more]

"At a time when people are looking for more meaningful and personalized ways to celebrate life's special moments, we're uniquely positioned to deliver a full-service experience for customers in-store, from inspiration to finished piece," said Nicholas Bertram, president & COO at Michaels. "Whether customers are printing their own art, a last-minute gift, or creating home decor, we're excited to introduce a level of quality they simply can't find anywhere else."

Headquartered in Irving, Tex., The Michaels Companies Inc. operates more than 1,300 stores in 49 states and Canada and online. The Michaels Companies Inc. also owns Artistree, a manufacturer of custom and specialty framing merchandise. 

The offices of Chain Store Age will be closed on Friday, June 19, in observance of Juneteenth. We will reopen on Monday, June 22.

We wish our readers a happy and safe holiday weekend!

Artificial intelligence continues growing as a source of visitors to e-commerce sites.

In data emailed to Chain Store Age, Adobe revealed that traffic from AI sources to U.S. retail sites rose a significant 138% year over year in May 2026 and has exploded 1,324% since October 2024, marking another record high. 

AI-driven online retail traffic reached a new peak in May 2026, surpassing every month in 2025 and signaling what Adobe calls a “sustained change in how consumers discover and engage with brands.”

Other findings

• AI online traffic converted 54% better than non-AI sources, a sharp reversal from 2025 when conversion rates were nearly half as high. Eight in 10 consumers who use AI for shopping surveyed by Adobe say they use it more than they used to, and 79% feel more confident in purchases made with AI assistance.
• Once on site, AI-referred shoppers are 15% more engaged, the strongest advantage recorded since Adobe began tracking AI online traffic in October 2024. These shoppers also spend more time on the website (53% longer per visit), browse more pages (23% more pages per visit, nearly double March 2026 levels), and are significantly less likely to leave immediately (-36% bounce rate, a record low).
• AI visits are now worth 53% more than non-AI visits, another record high (up from 37% in March 2026). This marks a turnaround from May 2025, when non-AI visits were worth 128% more than AI visits.

[READ MORE: Adobe: AI-driven shopping grows less than expected on Super Bowl Sunday]

“Overall, Adobe’s latest data shows that AI traffic to U.S. retail sites continues to grow, both in volume and value,” Adobe said in emailed commentary. “(But) even top-performing sectors have high-value pages where 30 to 40% of content is still overlooked or uncaptured by AI.”