REAL ESTATE

A&P teams with Esri for real estate solution

BY Katherine Boccaccio

Redlands, Calif. — Esri announced Wednesday that the Great Atlantic and Pacific Tea Co. has licensed Esri GIS technology and data to provide localized shopping trends data toward supporting the grocer’s commitment to growing its market presence across the Northeast.

"Partnering with Esri allows us to enhance our real estate strategy in the neighborhoods that we currently serve by enabling us to meet the specific needs of our customers," said Nrup Krishnamurthy, A&P chief information officer. "In addition, this technology will serve as an essential business tool to help us make well-informed decisions about where and how we go to market in the future."

Esri’s location analytics provide A&P staff with valuable data on store locations, including key demographics and shopping trends in local communities. By analyzing geodemographic data, part of the Business Analyst solution, A&P can continue to grow and develop its stores, according to the grocer.

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News

Dick’s joins the special dividend club

BY CSA STAFF

 

Dick’s Sporting goods will pay $2 special dividend before year end in a move to help investors avoid what are presumed to be higher dividend tax rates in 2013 and beyond.

The dividend payment will be made from cash on hand, according to the company.

"This additional return of approximately $254 million in cash to our shareholders demonstrates the strength of our balance sheet, the health of our business and a commitment to efficiently deploy our strong cash generation," said Dick’s chairman and CEO Ed Stack. "We also remain firmly committed to investing in the profitable growth of our business and we will have ample capacity to do so even after payment of this dividend."

The hefty dividend payout was announced in conjunction with news that CFO Tim Kullman plans to retire in April 2013. The company has begun a search for his replacement, but said Kullman has agreed to remain with the company until such time as a successor is located.

"Tim has been an invaluable member of our management team over the past five years. He has been instrumental in designing a financial framework rooted in discipline and supporting our mission to relentlessly improve everything we do. Tim’s contributions will be felt well into the future," Stack said.

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REAL ESTATE

CBRE names president and CEO

BY Katherine Boccaccio

Los Angeles — CBRE Group announced that Robert E. Sulentic assumed the position of president and CEO, effective Dec. 1.

Sulentic succeeds Brett White, who, as previously announced, retired on Nov. 30.

Sulentic, most recently the company’s president, also joined CBRE’s board of directors, which has expanded to 11 members. White also remains a member of the board.

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