Finance & Capital Management

New York City -- A retail real estate market report, issued by Savills US retail group, found that, even as recovery remains slow, a few formats are progressing at a faster clip than others.

According to Gerry Mason, head of Savills, the majority of recent and planned retail development is in the grocery-anchored and outlet center category. CBL & Associates and Tanger Outlets are among the most active developers scheduled to break ground in 2012.

Seattle -- Nordstrom reported Thursday that net earnings for the quarter ended Jan. 28 rose 1.7% to $236 million, compared with $232 million in the year-ago period.

Sales rose 12.5 % to $3.17 billion, and same-store sales increased 7.1%. Nordstrom Rack sales rose 17.7% in the quarter, to $85 million.

For the full year, total net sales were $10.5 billion, representing the highest in the company’s history. Net earnings were up 11.4% to $683 million, compared with $613 million a year earlier.

Ahead of Walmart's fourth-quarter sales and earnings report on Feb. 21, analysts have high expectations for the company. Reuters reported that nalysts on average expect to see the company's best U.S. sales performance in more than two years, and anticipate that Walmart's store traffic will improve.

To see more about what Reuters had to say, click here.

Chattanooga, Tenn. -- CBL & Associates Properties announced the promotion of Scott Word to VP – asset management.

Word began his career with CBL in 1993 as an accountant. In 1997, he moved into CBL’s Acquisitions Department as a financial analyst and, in 2008, he joined the Asset Management team as director - asset management.

Lancaster, Pa. -- One of the supermarket chains operated by Netherlands-based Royal Ahold has installed rooftop solar panels at two of its stores.

Carlisle, Pa.-based Giant Food Stores — also known as Giant-Carlisle to distinguish it from Landover, Md.-based Giant Food, also owned by Ahold — said it had installed solar photovoltaic systems at stores in Lancaster and Pottstown, Pa.

Hoffman Estates, Ill. -- A spokesman for Sears Holdings Corp. said that the owner of Sears and Kmart stores is cutting 100 jobs at its headquarters in Hoffman Estates, Ill.

According to Chris Brathwaite, Sears spokesman, the cuts cover a range of positions. The terminated employees were notified Thursday. 

The retailer has not said whether additional cuts are planned.
 

WASHINGTON — The monthly Global Port Tracker report, released Wednesday by the National Retail Federation and Hackett Associates, said that import cargo volume at the nation’s major retail container ports is expected to be down 6.8% in February from the same month a year ago. However, volumes should show year-over-year increases through most of the remaining first half of 2012.

Pittsburgh -- GNC Holdings reported Thursday that net income for the fourth quarter rose to $37.7 million, compared with $18.8 million a year earlier.

Revenue increased 17% to $509.6 million in the quarter; domestic same-store sales rose 12.1%.

In 2012, GNC plans to open approximately 125 net new domestic retail locations, 15 net new domestic franchise locations, 150 net new international franchise locations, and 50 net new GNC-Rite Aid store-within-a-store locations.