News

DDR buys Chicago center for $81 million
DDR has purchased a new Chicago center anchored by a Mariano’s supermarket for $81 million. The 137,618-sq.-ft. property is located on 3030 North Broadway in the Lakeview section of town. XSport Fitness, PNC Bank, and Starbucks are tenants in the center along with Mariano’s, a chain Chicagoland founded by former Dominick’s deli worker Bob Mariano, who grew it to nearly 48 stores. The chain is now owned by Kroger.
New chief human resources officer named at Rite Aid
Rite-Aid has named Ken Black senior VP and chief human resources officer, effective immediately. Black, who served as the drug chain’s group VP of compensation, benefits and shared services, will succeed Dedra Castle, who is leaving the company for personal health reasons. Black will report to CEO John Standley, and be responsible for all aspects of human resources, including training, recruitment, talent management, compensation and benefits, labor relations, leadership development and diversity.

Off-pricer announces senior management promotions

Burlington Stores is promoting three key executives, with the appointments all effective January 30, 2017. The appointments include the following: • Jennifer Vecchio, executive VP/chief merchandising officer since May 2015, will be promoted to the newly created role of chief merchandising officer/principal, and will assume responsibility for the merchandise planning, allocation and MIO functions.
Starbucks to expand parental leave

Starbucks Corp. is upgrading its U.S. paid parental leave plan as it seeks to hire and retain workers in an increasingly competitive labor market. Effective Oct. 1, eligible store associates who are birth mothers will be entitled to six weeks of paid leave at 100% up from 67% average pay previously, and 12 weeks of unpaid leave. Store associates who are non-birth parents (including fathers, spouses and foster and adoptive parents) can take up to 12 weeks of unpaid leave.
Home decor brand’s sales data reveals most enthusiastic NFL fans

Wayfair has tapped into analytics with an unusual goal: to rank its most enthusiastic football fans ahead of the Super Bowl. By using analytics to tap sales data of its NFL merchandise, Wayfair pinpointed its most enthusiastic team fan bases — and where they reside. The online retailer’s results are based on overall sales of licensed merchandise sold on its NFL Fan Shop during the 2016-2017 NFL season (Sept. 8, 2016-Jan. 15, 2017).
Report: China leads global e-commerce race

Despite global economic fluctuations, China is still a world leader in many markets — including global e-commerce. China’s online retail sales have grown by 33.3% to exceed $581 billion in 2015. Momentum is expected to continue, as sales in the country are expected to grow by 20% yearly through 2020, according to BizView, a B2B marketplace that enables users to connect with over seven million companies around the globe.
Alibaba makes a bold move to fight fake goods

Alibaba is championing the fight against counterfeit merchandise. In a new alliance with international brands including Louis Vuitton, Samsung and Mars, Alibaba has created an anti-counterfeiting group. Called the Alibaba Big Data Anti-Alliance, the 20-member consortium of industry and technical leaders is working to keep pirated goods off of Alibaba’s e-commerce platform, according to the company’s website.
Best Buy CEO says he’s not leaving

Hubert Joly, chairman and CEO of Best Buy, denied a report that has him taking the helm of a European retailing giant. A report by Reuters, which cited Brazilian newspaper Valor Economico, said that Carrefour, the world’s second largest retailer, had identified Joly as a replacement for its current CEO, Georges Plassat, whose term ends in May 2018.
RPAI acquires mixed-use property for $88 million

A mixed-use project with 103,000 sq. ft. of retail in the western suburbs of Chicago has been purchased by Retail Properties of America for $88 million. Main Street Promenade, a town center style development in Naperville, is 93% leased and includes tenants such as Ann Taylor, Sur la Table, White House | Black Market, and Anthropologie.
Target names new chief marketing officer

Target has made a key addition to its executive team. The discounter has promoted Rick Gomez to the position of executive VP and chief marketing officer, effective Jan. 29. Gomez, currently senior VP of brand and category marketing, has been with Target since 2013. He replaces Jeff Jones, who left Target last summer to become president of Uber.