News

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.
Toys ‘R’ Us promotes chief merchant to president

Toys "R" Us announced the appointment of Melanie Teed-Murch as president, Toys "R" Us, Canada, effective Sept. 1. Teed-Murch joined the retailer in 1996 as a store manager for Toys "R" Us in Kitchener, Ontario. She went on to hold a variety of senior leadership, merchandising and operational roles with increasing responsibility, including her most recent position as Canada's chief merchant.
Tanger hits the NASCAR track with car sponsorship

Tanger Outlets is putting its pedal to the metal marketing-wise, signing on as lead sponsor of Martin Truex Jr.’s No. 78 NASCAR racer and his Furniture Row Racing Team. The striking red-and-black Tanger Toyota will debut at the Federated Auto Parts 400 on September 10 at Richmond International Raceway in Virginia before motoring on through the 10-race Chase playoff series.
Amazon to test 30-hour workweek

Amazon.com is going to give select employees the chance to work a shorter week for reduced pay — but with full benefits.
C-store chain in money-saving lighting retrofit

Quik Mart Stores has made the move to LED lighting. The Tucson, Arizona-based convenience store/gas station chain replaced the existing fluorescent and HID interior and exterior lighting with solid state LED lighting at 25 locations in the Tucson market. The retrofit was completed by SCS Energy Solutions Corp.’s SCS Lighting Division, which also developed a solution for beverage and freezer cooler lighting, as well as enhancing existing merchandise displays.
Unlikely allies: Obama and Walmart

In a scenario that few could have predicted, Walmart has emerged as one of President Obama’s most reliable corporate allies, a partner that has backed the White House on more than a dozen initiatives, including Obamacare and climate change, bloomberg.com reported.
Canadian c-store giant buying up more U.S. stores

On the heels of the biggest deal in its history, Canada’s Alimentation Couche-Tard Inc. has entered into yet another deal to expand its U.S. footprint. The retailer has signed an agreement to buy 53 stores in Louisiana, primarily in the Baton Rouge market, from American General Investments and North American Financial Group for an undisclosed price.
Can Sears be saved?

On Thursday, Aug. 25, Sears Holdings Corp., on the heels of another dismal quarter, announced it had accepted a capital infusion in the way of a $300 million loan by CEO Eddie Lampert’s hedge fund.