News

Wendy’s honored for energy efficiency
The U.S. Department of Energy recognized The Wendy's Company, and one of its franchisees, Wendco Group, for its energy-saving efforts. Wendy’s Company and Wendco Group, which operates 43 Wendy's restaurants in Alabama and Florida, are participants in the DOE’s Better Buildings Challenge. The program aims to make commercial, public, industrial and residential buildings 20% more energy efficient over the next decade.
Branch buys its first Alabama centers
Branch Properties, which owns 24 retail centers and restaurant parks in the Southeast, made its first foray into Alabama with the purchase of two Birmingham properties from Bayer and a silent partner. The Atlanta-based Branch gets Inverness Corners, a 236,444-sq.-ft. center anchored by Winn-Dixie and Kohl’s, and Inverness Plaza a 74,818-sq.-ft property that houses Alabama’s only PGA Super Store. The deal was brokered by JLL.

Fred’s names retail veteran as CEO

Photo: Michael K. Bloom Fred’s announced it has promoted COO Michael K. Bloom to chief executive, effective Aug. 29. Bloom succeeds CEO Jerry A. Shore, who became chief executive in October 2014 and intends to retire in February.
Report: Fraud attacks spike over past four quarters

Cyber-criminals have been wreaking so much havoc among retailers that there has been a 137% jump in fraud attacks over the past four quarters, an issue affecting $7 out of every $100 of retail sales, according to the latest PYMNTS.com Global Fraud Attack Index.
Fred's creates new COO position

Fred’s Inc. named Craig Barnes, executive VP of supply chain, global and domestic logistics, to the newly created role of COO — front store. In his new role, Barnes will be responsible for merchandising, marketing, supply chain, store operations and real estate, and will report directly to CEO Michael K. Bloom.
Howard Hughes Corp. tops out Hawaiian tower

Howard Hughes Corporation this week topped out the second of three residential towers destined for Ward Village, a 60-acre, master-planned community in Honolulu that will deliver 4,000 new residences when completed. The finished Anaha tower, set to welcome residents in 2017, will house a Merriman’s restaurant and Oahu’s flagship Whole Foods Market.
Target’s top marketing exec heading off to Uber

Target Corp. is losing its top marketing honcho just months before it enters its most important selling season. Jeff Jones, executive VP, chief marketing officer at Target, will depart the discounter effective Sept. 9. Jones will be joining Uber as president, ridesharing. He will responsible for Uber’s operations, marketing and customer support globally. Target is conducting an external and internal search for Jones' replacement.
Abercrombie & Fitch has changed. But do consumers realize it?

From new store prototypes to merchandise changes, Abercrombie & Fitch has been investing in efforts to transform and update its namesake and Hollister brands. Unfortunately, getting consumers to change their ideas regarding the brands is not proving all that easy, according to Columbus Business First.
Footwear retailer beats Street in Q2; identifies cost savings

DSW Inc. on Tuesday posted better-than-expected results for its second quarter and reaffirmed its full-year outlook. The company also said it expects to see $25 million of annualized savings in 2017 as a result of a restructuring program it launched earlier this year, with about $7 million of the total to be realized this year. The retailer said the savings would result “from organization realignment and improvements in procurement and other business processes.”
Dismal Q2 puts Abercrombie turnaround in question; to close more stores

Abercrombie & Fitch Co.’s turnaround was called in to question on Tuesday as the chain posted a wider loss in its second quarter, hurt by a decline in tourist traffic at its flagship locations. The teen apparel retailer also revealed that it expects to close up to 60 U.S. stores as their leases expire this fiscal year. On its quarterly conference call, company executives said the chain has flexibility to close even more stores, with about half of its U.S. leases expiring by the end of 2017, the Wall Street Journal reported.