Finance & Capital Management

Redmond, Washington - Retail Properties of America, Inc. announced the purchase of Avondale Plaza, a 39,000-sq.-ft. neighborhood shopping center in Redmond, Washington (Seattle MSA). The center is located on Avondale Road, and is anchored by PCC Natural Markets.   The purchase price was approximately $15 million.  

Boston - X Team International, an international alliance of retail real estate advisors with expertise in more than 45 major markets throughout the U.S. and Canada, released third quarter transactional volumes totaling $746 million, bringing its year-to-date transactional volume to more than $2.24 billion.   

Increased digital integration at GameStop is driving engagement with customers, but the delayed launch of a popular video game negatively impacted third quarter sales and made it hard for management to accurately forecast holiday sales.

The launch of Assassins Creed Unity got pushed back from a planned October launch and that proved a huge headwind for GamesStop which reported a 2.3% decline in same store sales for the quarter ended Nov. 1. Total sales for the company declined 0.7% to $2.11 billion.

Alco Stores is offering retailers a cautionary holiday tale this Christmas as going-out-of-business sales have begun at the regional discounter’s 198 locations.

Ann Inc. President and CEO Kay Krill cited a number of factors that caused the company to report its first decline in same-store sales in 10 quarters.

Lisa Evans has joined Gordmans Stores as EVP and chief merchandising officer as the apparel and home décor retailer looks to restore growth following another disappointing quarter.

Evans appointment to the head merchant role at the 98 store chain was announced in conjunction with third quarter results that saw same store sales decline 7.8% on top of a prior year decline of 6.1%. Net sales declined 3.1% to $146.7 million. The company reported a net loss of $1.9 million, or 10 cents a share, compared to a prior year profit of $1.1 million, or 6 cents a share.

Enhanced onmichannel capabilities were among the factors that incoming Foot Locker CEO Dick Johnson cited as contributing to the company’s increase in third quarter profits and same store sales.

Profits for the third quarter climbed to $120 million, or 82 cents per share, compared with profits of $104 million, or 70 cents per share, in the prior-year quarter. Third quarter same store sales increased 6.9% to $1.7 billion this year, compared with sales of $1.6 billion for the prior-year period.

Hibbett Sports reported relatively flat third quarter same store sales, but the company achieved record new expansion and is prepared to surpass 1,000 units in 2015.

For the third quarter, Hibbett posted profits of $16.9 million, down from $17.3 million in the prior-year quarter. The decline was mainly due to markdowns related to slow selling and aged inventory, the company said.

Clothes aren’t the only thing big at Destination XL as evidenced by a double digit third quarter comp increase aided by omnichannel integration.  

Sales at Destination XL increased 5% to $93.6 million, compared with $88.7 million in the prior-year quarter. Same store sales increased 5.5%.  

Walmart is fulfilling its promise earlier this year to make a big investment in solar energy: The retailer has accepted bids from SunEdison and SolarCity to install as many as 400 new solar systems on its facilities over the next four years.