OPERATIONS

Former Sears interim CEO Johnson named CEO of spun-off unit

BY Katherine Boccaccio

Hoffman Estates, Ill. — Sears Holdings Corp. said that former interim CEO Bruce Johnson will serve as president and CEO of Sears Hometown and Outlet Stores once the unit is spun off from the retailer.

Johnson served as interim CEO of Sears Holdings from 2008 to early 2011.

Last February, Sears Holdings announced it would spin off its Sears Hometown and Outlet businesses in an effort to raise an expected $400 million to $500 million.

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STORE SPACES

Target remodeling 30 stores to expand fresh-food items

BY Katherine Boccaccio

Minneapolis — Target Corp. said Monday it has begun remodeling 30 stores to expand their fresh-food offerings; construction on all 30 stores is slated for an October 2012 completion.

The current remodels are part of the last of three cycles of remodels this year and span markets from Cincinnati, to Jacksonville, Fla., and Nashville, Tenn.

Nearly 1,100 Target stores currently offer an expanded food layout. At these Target stores, approximately 10,000 sq. ft. is dedicated to a vast array of fresh food choices. Most of Target’s new and remodeled general merchandise stores also feature updates in other areas, including the beauty departments, home, shoes and the baby departments.

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REAL ESTATE

Dunkin’ Donuts to expand presence in Germany

BY Katherine Boccaccio

Canton, Mass. — Dunkin’ Donuts announced Monday that it has signed a franchisee agreement to expand the brand’s presence in Germany.

The new franchisee group, consisting of local businessmen Sadi Sanlav and Mo Rahimi, plans to develop at least 15 new Dunkin’ Donuts restaurants in the Frankfurt, Rhine-Main area of Germany over the next five years.

Dunkin’ Donuts currently has more than 30 locations across Germany, concentrated in the Berlin and Nordrhein-Westfalen metropolitan areas. With the new franchisee agreement, the total number of Dunkin’ Donuts restaurants in Germany will rise to nearly 50 locations in the coming years.

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