FINANCE

Office Depot extends board nomination deadline

BY Katherine Boccaccio

Boca Raton, Fla. — Office Depot said Thursday it has extended its deadline for board nominations; the move comes after discussions with its largest shareholder Starboard Value were held.

The extension allows stockholders to nominate candidates until the close of business on Feb. 25.

Activist hedge fund Starboard has been pushing for changes at Office Depot, arguing that the company could improve profitability in part by reducing expense.

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OPERATIONS

Ann Taylor and Kate Hudson team for capsule collection, advocacy

BY Katherine Boccaccio

New York — Ann Inc. said Thursday that actress Kate Hudson will continue her role as the face of Ann Taylor for its spring and summer 2013 campaigns.

However, said the retailer, this year Hudson’s role will grow as both a design influence and charitable ambassador as well. For the summer collection, she will be developing a capsule collection for the brand. In addition, Hudson will join the Advisory Council for the company’s ANNpower Vital Voices Initiative, a program that supports the empowerment of young women.

Hudson will make her first foray into fashion design as she collaborates with creative director Lisa Axelson on the summer capsule, planned for a May debut. And Hudson’s broadened role as a member of the Annpower Advisory Council will allow the actress to continue her long-time work as an advocate for empowering young women.

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REAL ESTATE

Three major malls to be revamped

BY Katherine Boccaccio

Chattanooga, Tenn. — Mall owner CBL & Associates Properties said Thursday that, in 2013, it will complete multi-million dollar renovations at three major malls: Friendly Center in Greensboro, N.C.; Greenbrier Mall in Chesapeake, Va.; and The Mall of Acadiana in Lafayette, La.

The Mall of Acadiana – at one million-sq.-ft. and anchored by Dillard’s, Macy’s, J.C. Penney and Sears — will receive updated entrances, paint, new interior décor and graphics, upgraded restrooms, remodeled food court, new landscaping, as well as new amenities, including soft seating areas.

Friendly Center, a lifestyle and entertainment destination that features a 1.3 million-sq.-ft. complex, will receive updated walkway canopies and landscaping.

Greenbrier Mall will receive new upper-level carpet, paint, restroom upgrades, landscaping improvements, as well as a newly designed food court including new tables and chairs. The 900,000-sq.-ft. enclosed regional mall is anchored by Dillard’s, Macy’s, J.C. Penney and Sears.

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