-
Outlet Center: Moving Dirt
After nearly a decade of stalled growth in the shopping center industry, 2014 finally saw progress being made on the new development front. While it’s true that much of the ground-up construction was of the outlet center ilk, the value sector wasn’t the only new-build push. Mixed-use properties and open-air destinations continue to come out of the ground, albeit stingily, as do hybrid centers that defy current standard definitions.
-
Fred’s turns red in Q3, will close 47 stores
Memphis, Tenn. – Fred’s Inc. swung to a net loss of $10.4 million in the third quarter of fiscal 2014, compared to net income of $7.3 million in the same quarter a year earlier. Costs associated with closing five underperforming stores in the third quarter, and an anticipated 47 stores in the fourth quarter, contributed to the loss, which exceeded Wall Street projections. However Fred’s beat the Street with third quarter sales of$476.2 million, up 3% from $460.5 million. Same-store sales rose 0.3%.
