OPERATIONS

Stage Stores names veteran retail exec to board

BY Dan Berthiaume

Houston – Elaine D. Crowley, 55, was appointed to the Stage Stores Inc. board of directors. Her appointment brings the board’s membership to 10 directors.

Crowley, an independent director, has been named to serve on the board’s Audit Committee and on its Corporate Governance and Nominating Committee. Crowley, who spent nine years at Price Waterhouse, ultimately attaining the position of senior audit manager, has held various senior executive level financial positions at a number of retail companies. Most recently, she served as executive VP and CFO for Mattress Giant Corp., executive VP and CFO for Michaels Stores Inc. and CFO for The Bombay Company Inc.

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FINANCE

Retail Opportunity Investment Corp. buys Fallbrook Shopping Center

BY Dan Berthiaume

San Diego – Retail Opportunity Investments Corp. has completed the acquisition of Fallbrook Shopping Center, located in West Hills, California. ROIC acquired the property for $210 million in cash funded by a borrowing under its unsecured credit facility.

Fallbrook Shopping Center totals approximately 1.12 million sq. ft. of gross leasable area (762,000 sq. ft. of owned GLA). Fallbrook is currently 98% leased, featuring three supermarkets (Ralph’s, Trader Joe’s and Sprouts) along with a diverse mix of major retailers including WalMart, Home Depot, Target, and Kohl’s.

"We are very pleased to acquire this exceptional property,” said Stuart A. Tanz, president and CEO of ROIC. “Given our market knowledge and relationship with the seller, we successfully sourced, underwrote and closed this off-market transaction in less than 30 days. We look forward to integrating Fallbrook into our portfolio and already have a number of initiatives planned that we believe will enhance value over time."

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INVENTORY

Raymark releases mobile inventory management tool

BY Dan Berthiaume

Montreal – Raymark is releasing a new mobile retail store operations solution called Mosaic Inventory Management. The new solution complements the suite of Raymark Mosaic retail enterprise applications with tools for end-to-end management and optimization of inventory from a handheld device, including support for iPhone and iPod Touch.

Mosaic Inventory Management provides an omnichannel, real-time, centralized database and a toolset supporting transfers, receiving, physical counts and inventory lookup all from a handheld mobile device, with bar-code scanning from the device’s camera.

“Today’s consumers demand attentive service,” said Marc Chriqui, president of Raymark. “So associates need tools and technology to limit the amount of time they spend on non-selling activities, and maximize the time they have for customer service and selling.”

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