Finance & Capital Management

Rite Aid reported $2 billion in sales for the four weeks ended Sept. 27, representing a 4.5% increase over the comparable year-ago period.
 
Same-store sales increased 5.1% over the prior-year period, including a 2.3% lift in front-end same-store sales and growth of 6.3% in pharmacy comparable sales. Pharmacy same-store sales included an approximate 225 basis points negative impact from new generic introductions. Prescription count at comparable stores increased 4.4% over the prior-year period.
 

As part of its agenda to boost liquidity ahead of the highly contested holiday shopping season, Sears Holdings plans to sell most of its 51% stake in its struggling Sears Canada division to shareholders — a move that stands to raise as much as $380 million by November.

New York - Imports to the U.S. were up in August from July, and there was a measurable year-over-year increase. According to a new report from supply chain research firm Panjiva, imports in August 2014 were 4% higher than imports the same month the prior year.

Dublin, Calif. -- Ross Dress for Less will open a new store in Colorado on Oct. 11. The store is located in Prairie Center in the community of Brighton, eight miles northwest of Denver.

This new opening is part of the retailer’s 2014 expansion program, totaling approximately 75 new locations during the year.

Phoenix -- Molly Busch has joined the Capital Markets group of commercial real estate firm CBRE Group Inc. in Phoenix. A senior associate, Busch will partner with VP Andrew Fosberg.

The duo focuses on investment sales with an emphasis in retail properties. Busch comes to CBRE from Grand Canyon University, where she was the director of marketing for athletics and fan development.

Washington, D.C. -- Madison Marquette Retail Services (MMRS), a national real estate development, leasing and management firm specializing in infill, mixed-use, community and specialty retail properties, has named Lori Coleman VP, management services, California. In her new role, Coleman will oversee the company’s entire California portfolio, which includes 4.8 million sq. ft. across 18 properties.

New Orleans - Smoothie King Franchises Inc. has signed a five-store development agreement for Missouri with new franchisee Jackie Floyd. The smoothie chain currently has 21 locations in the state, including more than a dozen in the St. Louis area, with three additional stores planned to open in the market in 2014.

Houston - Mattress Firm Holding Corp. has completed its acquisition of the mattress specialty retail assets and operations of Back to Bed Inc., M World Mattress LLC, MCStores LLC and TBE Orlando LLC, which collectively operate Back to Bed and Bedding Experts retail stores in Illinois, Indiana and Wisconsin and Bedding Experts and Mattress Barn retail stores in Florida.

Beachwood, Ohio – During third quarter 2014, DDR Corp. closed on the acquisition of eight prime power centers and the sale of seven operating assets and two land parcels, totaling $699 million of executed transactions. Seven of the eight power centers that the company acquired were purchased for $377 million at DDR's share from a joint venture formed with Blackstone Real Estate Partners VII L.P. in August 2013.

Dublin, Calif. - Ross Dress for Less will open two new stores in North Florida on Oct. 11. The stores are located in the Lakeland Park Center in Lakeland and Forest Lakes Plaza in Oldsmar.  

These new openings are part of the retailer’s 2014 expansion program, totaling approximately 75 new locations during the year.