FINANCE

Kohl’s completes credit-card portfolio transfer to Capital One

BY CSA STAFF

Menomonee Falls, Wis. — Kohl’s Department Stores said Tuesday it has completed the transfer of its private-label credit-card portfolio to Capital One Financial Corp., effective April 1.

Capital One has acquired the more than 20 million existing Kohl’s Charge accounts and through the seven-year agreement will offer private-label credit cards to new and existing Kohl’s customers. According to the department store retailer, the credit-card business accounted for more than 50% of Kohl’s sales in 2010.

“Capital One’s strategic, analytical approach and commitment to profitable growth make them a strong fit for Kohl’s from both a cultural and financial perspective,” said Kohl’s senior executive VP and CFO Wes McDonald.

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OPERATIONS

DSW names exec appointments to support strategic growth

BY CSA STAFF

Columbus, Ohio — DSW announced Tuesday that it has named Roger Rawlins senior VP and general manager of DSW.com, and has named Jennie Wilson to the position of senior VP of finance and controller of the company.

According to the shoe retailer, both appointments are designed to support long-term strategic growth initiatives for the company.

Roger Rawlins has been with DSW since 2006, and most recently served as senior VP of finance and controller. Wilson is new to the company, and has held executive financial positions with Limited Brands, Victoria’s Secret and Dunkin’ Brands.

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REAL ESTATE

Simon launches installation of electric vehicle charging stations

BY CSA STAFF

Indianapolis — Mall owner Simon Property Group announced Tuesday that it has completed its first installation of an electric vehicle charging station at one of its shopping centers.

The initial installation has been completed at Simon’s Florida Mall in Orlando and will be complete at Stanford Shopping Center in Palo Alto, Calif., later in April.

One ‘Level 2’ charger, which has the capability to "top off" or partially charge a customer’s electric vehicle in a 60- to 120-minute time frame, is now operational near the food court entrance at Florida Mall. One dual unit, with two ‘Level 2’ chargers, will be installed in the parking deck between Macy’s and Bloomingdale’s at Stanford Shopping Center.

According to Simon, the EV charging stations will be self-service and easy to operate. Shoppers will be able to "pull up and plug in" and leave their vehicles at the charging station while they are shopping at the mall. Charging will be free during an introductory time period and then a nominal fee will be assessed.

Production numbers from EV automakers project approximately a million EVs on U.S. roads by 2015, and possibly 27 million (or 10% of all vehicles in the U.S.) by 2020.

"We believe that a well-developed EV charging infrastructure is going to be key to the success of EVs," said George Caraghiaur, Simon Property Group’s senior VP of energy and procurement. "Meeting the needs of the first-to-market drivers of electric vehicles in the communities we serve is yet another example of our commitment to sustainability."

Simon is working with two companies during this initial rollout. Car Charging installed the unit at Florida Mall and 350Green will install the charging units at Stanford Shopping Center.

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