Finance & Capital Management

 NEW YORK  — A sluggish economy, cool weather and high prices at the pump tempered retail sales in May, as retailers reported mixed results for the month. Retail Metrics projected an increase of 5.1% for the 25 chains tracked, which would mark the 21st straight monthly gain from September 2009.

Retailers who turned in strong performances in May included Macy’s, with a 7.4% rise in same-store sales when a 5.6% increase was expected. The company lifted its full-year same-stores sales estimate.

Atlanta -- LaVida Massage said Wednesday it has named Duane Goodwin and Terry Sharp as Master Developers in the state of Georgia.

Goodwin and Sharp, both former Home Depot senior executives based in Atlanta, will be charged with spearheading the regional growth and the development of several centers in Atlanta and throughout Georgia.

BENSALEM, Pa. — Charming Shoppes reported that consolidated net sales for the first quarter ended April 30 were $504.4 million, compared with $504.8 million for the three months ended May 1, 2010. Net sales results included a 2% increase in comparable-store sales and an increase in e-commerce sales, offset by the impact of operating 139 (or 7%) fewer stores than in the year-ago period. E-commerce sales increased to $36.6 million in the first quarter, compared with $31.6 million in the year-ago period.

Greensboro, N.C. -- The Fresh Market reported Thursday that net income for the quarter ended May 1 rose to $13.5 million, compared with $12.2 million in the year-ago quarter.

Sales increased 10% to $264.5 million and same-store sales increased 4.1%.

During the first quarter, the retailer opened one new store in Peachtree City, Ga., bringing the current store count to 101. Fresh Market said it expects to open 12 to 14 new stores during fiscal 2011.
 

New York City -- Private equity firm Gores Group is in talks to buy more than half of Borders Group's remaining stores, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

Borders, which filed for Chapter 11 bankruptcy protection in February, would be able to continue operating as a going concern, according to the report.

Other suitors are also talking with Borders, the Wall Street Journal reported.
 

Seattle -- Starbucks Corp. announced it has acquired full ownership of Starbucks stores in the China provinces of Guangdong, Hainan, Sichuan, Shaanxi and Hubei in an agreement with Maxim’s Caterers Ltd., the coffee company’s joint-venture partner. As a result, Starbucks said now has full control of more than half of the Starbucks retail stores in Mainland China as it looks to accelerate growth in the future.

CAMP HILL, Pa. — Same-store sales at Rite Aid increased by 1.3% in May, compared with the year-ago period, the retail pharmacy chain said Thursday.

Reporting sales for the five-week period that ended May 28, Rite Aid said front-end same-store sales increased 1.8%, while same-store sales in the pharmacy increased by 1%, including a 129-basis point offset due to introductions of new generic drugs. Prescription count increased 0.1%.

Total drug store sales during the period were nearly $2.5 billion, a 1% increase over $2.45 billion in May 2010.

New York City -- A report released Wednesday by CB Richard Ellis found that New York City remains the world’s most expensive retail destination as retailers focus on the major fashion capitals, pushing global rents in prime locations even higher.

According to the latest CBRE Global Retail MarketView, the improving economy has had a measurably positive impact.