REAL ESTATE

Kroger Promotes Executive to Kwik Shop Top Job

BY CSA STAFF

Cincinnati, The Kroger Co. announced Tuesday it has named Jeff Parker president of its Kwik Shop convenience store division. Parker will oversee 131 Kwik Shop stores in Kansas, Nebraska and Iowa.

Kwik Shop is headquartered in Hutchinson, Kan.

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REAL ESTATE

Saks Names Senior VP, Real Estate

BY CSA STAFF

New York City Saks Inc. announced that Vince Corno joined the company on Monday as senior VP of real estate.

Since May 2006, he served as VP of development for real estate company Forest City Enterprises, Inc. From 1998 to April 2006, Corno served in several real estate positions of increasing responsibility with The May Department Stores Co. including the post of senior VP of May Realty, Inc.

Corno will be responsible for overseeing all real estate matters for Saks Fifth Avenue and Off 5th, including new store development, expansions and remodels.

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REAL ESTATE

Costco to Open in Australia

BY CSA STAFF

Bellevue, Wash. Costco plans to open its first store in Australia in 2009.

At its annual shareholders meeting in Bellevue, Wash., on Jan. 29, Costco chairman of the board Jeffrey Brotman said the company plans to “open in Australia sometime next year,” when asked about the chain’s plans for international expansion.

Costco executive VP and CFO Richard Galanti later confirmed that Costco is searching for sites in Sydney, Brisbane and Melbourne.

During his presentation, CEO Jim Sinegal said Costco increased the number of stores powered by solar energy to 13 and that the company is considering solar panels for 25 more locations.

Sinegal also confirmed the 531-store chain plans to open 29 new locations this year and estimates Costco could eventually open 1,025 stores worldwide with more than 700 warehouses in the United States.

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