Retail Traffic


Atlanta - Public announcement of JDN Realty Corp.'s earnings for the year ended Dec. 31, 1999, will be delayed until March 2000. According to JDN, the company discovered certain transactions, including undisclosed compensation arrangements, that were inaccurately recorded or disclosed in JDN's audited financial statements for the years ended Dec. 31, 1994 through 1998.

A committee of non-management members of JDN's board of directors will investigate these transactions. CEO J. Donald Nichols has resigned his position, but will continue as a non-executive chairman of the board.

Retailer roundup Chicago -Target captured the best of show trophy at last month's Retail Advertising Conference (RAC) 2000. The Southfield, Mich.-based discount retailer's "Sign of the Times" campaign, which encompassed broadcast, print, point-of-purchase materials and in-store signage, was created by the Peterson Milla Hocks agency of Minneapolis. This is Target's sixth time to win the award.

Wellesley, Mass. - Value City Department Stores is the new owner of Filene's Basement Corp. The venerable yet bankrupt Boston discount goods retailer fits perfectly with Value City's "deal-driven" merchandise strategy, according to president Mike Tanner. The transaction was valued at approximately $89 million. Value City plans to focus on re-energizing the core Filene's Basement stores in Boston, New York, Washington and Chicago.

New York -Already a household name, Polo Ralph Lauren is forming a new and separate company called Ralph Lauren Media to promote the brand's lifestyle experience. The company is a joint venture with NBC and two of its affiliates, ValueVision International Inc. and NBC Internet Inc. Ralph Lauren Media will reach consumers via multiple media platforms such as the Internet, broadcast, cable and print. The company's first project will be, a website that tempers commerce with original content and a strong community component.

Mall matters Philadelphia - Franklin Mills is fighting the Internet with its new "Come Back to Your Senses" initiative. The Mills Corp., Arlington, Va., is offering certificates on the Franklin Mills website that can be redeemed at the mall's information booth for coupons and other goodies. The program targets e-commerce fans, reminding them of the sensory benefits of the brick-and-mortar side of shopping.

Facts & figures Washington, D.C. - Long-term incentives account for more than 40% of total compensation among senior executives at REITs and other publicly traded real estate companies, according to the 1999 NAREIT Executive Compensation Survey. The most significant change in long-term incentives is the use of restricted stock, which has increased significantly since 1997. Other compensation trends reported in the survey include:

* Approximately 90% of responding companies have some type of formal salary administration program in place for senior executives or intend to implement one within the next two years;

* Nearly eight out of 10 companies indicated that they have, or plan to provide, some type of performance management process;

* Three-quarters of those companies surveyed offer, or plan to offer, short-term incentives, bonuses or recognition programs;

* Funds from operations (FFO) per share continue to be a critical performance measure for 85% of companies' CEOs and senior management; and

* Technology is the most rapidly growing functional area among companies that have added, or plan to add, new positions.

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